News and Announcements
Sprint Declines Louisiana Option
- Published April 10, 2012 2:22AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Sprint Energy Ltd (“Sprint”) (ASX Code: SPS) wishes to advise that it has elected not to exercise its option to acquire Eternal Resources Ltd (“Eternal”) and its Louisiana based assets. This decision was reached following some 2 months of due diligence studies and negotiations in which agreement could not be reached with Eternal regarding the final structure of the deal.
Sprint’s Board of Directors remain focused on rebuilding the Company via the identification of potential for value generation through its Padre Island and Sullivan City leases and through potential additions to its oil and gas portfolio in the North American region.
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