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BRIEF-Cuda Oil And Gas To Sell All Of Its Quebec Assets

Published 2019-07-24, 03:33 p/m
Updated 2019-07-24, 03:40 p/m
© Reuters.  BRIEF-Cuda Oil And Gas To Sell All Of Its Quebec Assets

July 24 (Reuters) - Cuda Oil and Gas Inc CUDA.V :

* CUDA OIL AND GAS INC. ANNOUNCES AGREEMENTS TO SELL ALL OF ITS QUEBEC ASSETS FOR A TOTAL TRANSACTION VALUE OF $10.59 MILLION

* DEAL INCLUDES CASH CONSIDERATION AT CLOSING OF CAD $4.29 MILLION

* LIGHT OIL CHARGED UNCONVENTIONAL RESERVOIRS WITHIN CRETACEOUS STACK "HIGHLY PROSPECTIVE"

* MOVING FORWARD, WILL FOCUS ON DEVELOPING HIGH NETBACK CONVENTIONAL LIGHT OIL ASSETS & SECONDARY RECOVERY MISCIBLE GAS FLOOD IN CONVERSE COUNTY

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