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EMERALD RESOURCES NL — Capital/Financing Update 2013
Jul 28, 2013
64849_rns_2013-07-28_5721b829-c561-4e25-a388-24862383101d.pdf
Capital/Financing Update
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Ground Floor, 20 Kings Park Rd West Perth WA 6005 Ph: +618 9389 2111 Fax: +618 9389 2999 Email: [email protected] www.emeraldoilandgas.com
29 July 2013
Company Announcements Platform Australian Securities Exchange
ASX Announcement
Attached is an announcement in relation to a sale agreement entered into between the Company and Key Petroleum Ltd.
This announcement is not related to the request for the trading halt made by the Company on Friday 26 July 2013.
The Company will be making a separate announcement in relation to this on Tuesday 30 July and requests that the trading halt remain in force until that time.
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Graeme Smith SECRETARY
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Ground Floor, 20 Kings Park Rd West Perth WA 6005 Ph: +618 9389 2111 Fax: +618 9389 2999 Email: [email protected] www.emeraldoilandgas.com
29 July 2013
Company Announcements Platform Australian Securities Exchange
SALE OF PARTICIPATING INTERESTS – EP104 & R1
Emerald Oil & Gas NL (“Emerald” or “Company”) (ASX:EMR) is pleased to advise that the Company has executed a Sale Agreement over all its Canning Basin interests with Key Petroleum Ltd (“Key”).
Emerald’s Canning Basin interests included in the Sale Agreement consist of a 24.98% beneficial interest in Exploration Permit 104 and a 14.17% beneficial interest in Retention Lease 1.
The consideration to be paid for these interests by Key Petroleum consists of –
(i) $50,000 cash, and (ii) the issue of 4 million ordinary fully paid shares in Key Petroleum Limited to Emerald (or its nominee) at an issue price based on the 5 day VWAP of Key shares over the 5 days preceding the completion date, which is expected to be the 15 August 2013.
The transfer of the above registered interests is conditional upon standard approval by the Department of Mines and Petroleum. Both companies do not see any reason why the transfer of registered interests should not be approved.
For more information please contact:
Emerald Oil & Gas NL
Tel: +618 9389 2111
MIKE KRZUS Director [email protected]
About Emerald Oil & Gas NL
Emerald Oil & Gas NL (ASX: EMR) was listed on the ASX in June 2006. Emerald Oil & Gas NL is a petroleum exploration and production company based in Perth, Australia. The Company's major asset consists of approximately 1.66 million common shares in Emerald Oil Inc (NYSE MKT:EOX), an active Williston Basin operating company listed on the New York Stock Exchange. In addition, Emerald holds exploration and production interests in Kentucky, USA and Canning Basin, Western Australia.