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| Home : Emerge Announces Closing of Asset Divestiture and Reaffirmed Borrowing Base |
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Sep 30
2011 |
Emerge Announces Closing of Asset Divestiture and Reaffirmed Borrowing Base |
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CALGARY, ALBERTA--(Marketwire - Sept. 30, 2011) - Emerge Oil & Gas Inc. ("Emerge" or the "Company") (TSX:EME) is pleased to announce that today it successfully closed the divestiture of its crude oil and emulsion processing facility near Lloydminster, Saskatchewan to Secure Energy Services Inc., as detailed in the Company's September 12, 2011 news release. The cash proceeds of $18.0 million ($17.7 million net after estimated closing expenses) have been applied to reduce to the Company's outstanding bank indebtedness. |
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| Source:http://www.marketwire.com/mw/release.do?id=1567691&sourceType=3 |
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