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
HSBC, the largest bank in the UK, has announced that it will not will relocate its headquarters out of London despite the shocking decision by the UK to leave the European Union. HSBC Chairman Douglas Flint, chairman, speaking at a conference in London, said that HSBC would stick to its plan to keep... Samsung Electronics has launched network unlocked versions of the Galaxy S7 and S7 Edge in the U.S., giving customers the freedom to choose their plans, switch carriers and avoid pre-installed carrier apps. Starting today, the unlocked phones will work on most U.S. GSM and CDMA networks. Online retail giant Amazon.com Inc.'s second annual Prime Day shopping event will take place on Tuesday, July 12, and will become the biggest Amazon sales event ever. It will feature more than 100,000 deals worldwide exclusively for Prime members this year.
comments powered by Disqus
Follow RTT