|
|
Article: Canada : Bronco Signs Letter of Intent to Sell Drilling Rigs.
- Article from:
- TendersInfo
- Article date:
- November 6, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. 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)
|
Byline: pinto03
Bronco Energy Ltd. ("Bronco" or the "Company") (TSX:BCF) is pleased to announce that Bronco Drilling Services Ltd., a wholly owned subsidiary, has signed a Letter of Intent with CanElson Drilling Inc., for the sale of a telescopic double rig, a single rig, and related contracts and equipment for cash proceeds of $6.5 million.
"This sale is very positive to Bronco as the drilling business has been considered non core to the Company for quite some time. As well, the proceeds will strengthen an already solid balance sheet." commented Mr. Peter Pelensky, Bronco's President and CEO.
...