News and Announcements
Reacquisition of Padre Island Leases Underway
- Published June 21, 2012 2:34AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Sprint Energy Ltd (“Sprint”) (ASX Code: SPS) is pleased to announce that the process to require some of the lapsed leases on Padre Island has commenced by engaging Producers Energy in Houston.
Post a recent trip to the US by your Managing Director; Brad Boyle, the Board of Sprint is pleased to update shareholders that application forms are being completed and lodged with the Texas General Land Office (“GLO”) to start the process of reacquiring the leases, by nominating for South Sprint 1, 2 and 3 leases in advance of the October 2012 lease auctions. Subject to being the successful bidder in the public auction, Sprint can then evaluate the most appropriate action to move these assets forward.
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