logo
Share SHARE
FONT-SIZE Plus   Neg

Oilsands Quest Gets Court Approval Of C$7 Mln Sale Of Eagles Nest Asset

Oilsands Quest Inc. (BQI) said that it has received approval from the Alberta Court of Queen's Bench for the sale of the Company's non-core Eagles Nest asset to Cavalier Energy Inc., an unrelated third party, for C$7.005 million.

As previously announced, Oilsands Quest reopened the sale process for its Eagles Nest asset as FAMA Capital Ltd. defaulted on an earlier Purchase and Sale Agreement. The Company said that it signed a new Purchase and Sale Agreement with Cavalier and the transaction, subject to normal closing conditions, is expected to close on or before March 23, 2012.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A California man has filed a lawsuit against McDonald's alleging that the fast food giant is defrauding customers by cramming its mozzarella sticks with filler instead of real cheese. Chris Howe is seeking at least $5 million in damages on behalf of consumers in 42 states and the District of Columbia. The... Jeep, the 4x4 vehicles, which has developed a strong bond with its masters, is aggressively on an expansion mode in its 75th anniversary year. Its fans have always been in love with the famous tag "Go Anywhere, Do Anything." Meat products maker Tyson Foods Inc. (TSN) reported a profit for the first-quarter that increased 49% from last year. It raised its profit outlook for fiscal year 2016 ,but it cut its annual sales guidance.
comments powered by Disqus
Follow RTT