Daybreak Oil and Gas Sells Louisiana Properties
June 17, 2008
Daybreak Oil and Gas has sold its Tuscaloosa Project properties located in the Tensas and Franklin parishes of Louisiana, US.
At this closing, Daybreak Oil and Gas received $5.5 million in exchange for the balance of its interests, having previously received a total of $2.5 million from partial closings in January and April 2008.
Tim Lindsey, president and CEO of Daybreak Oil and Gas, said: “This completes a significant step forward for Daybreak as we move to re-focus the company’s activities. The Louisiana transaction has been a very rewarding process as we worked closely with the purchaser, Lasso Partners, to provide a smooth transfer of operating responsibilities and ownership.”