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Article: Bankers Petroleum closes transaction to acquire United States unconventional assets.
- Article from:
- PR Newswire
- Article date:
- May 22, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Annual General Meeting to be Webcast May 26, 2006
CALGARY, May 22 /PRNewswire-FirstCall/ -- Bankers Petroleum Ltd. (TSX: BNK, AIM: BNK) is pleased to announce that its wholly owned subsidiary, Bankers Petroleum (US) Inc., has successfully closed its previously announced acquisition from Vintage Petroleum, LLC of four unconventional shale gas prospects in the Northern and Central regions of the United States.
The total consideration for the transaction was US$30 million of which US$10 million was paid in cash and the remainder in 25,971,715 Bankers' common shares at an ascribed price of $0.88 per share. As part of the transaction, approximately 30,000 ...