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Craft Oil Ltd. Announces Closing of Disposition of Oil and Gas Assets

Mar 01, 2017 - Marketwired

Craft Oil Ltd. ("Craft" or the "Company") is pleased to announce that it has closed the previously announced sale of non-core assets (the "Disposition"), comprised of approximately 410 boe per day (weighted 95% natural gas), in the Judy Creek / Thornbury and Portage area, to Point Loma Resources Ltd. ("Point Loma"). Pursuant to the Disposition, Craft received 3.35 million common shares of Point Loma (the "Shares"), at a deemed price of $0.40 per Share. The consideration received by the Company w...