| Home : September 2011 : September 30, 2011 News : Emerge Announces Closing of Asset Divestiture and Reaffirmed Borrowing Base |
Emerge Announces Closing of Asset Divestiture and Reaffirmed Borrowing Base |
September 30, 2011
CALGARY, ALBERTA--(Marketwire - Sept. 30, 2011) - Emerge Oil & Gas Inc. ("Emerge" or the "Company") (TSX:EME) is pleased to announce that today it successfully closed the divestiture of its crude oil and emulsion processing facility near Lloydminster, Saskatchewan to Secure Energy Services Inc., as detailed in the Company's September 12, 2011 news release. The cash proceeds of $18.0 million ($17.7 million net after estimated closing expenses) have been applied to reduce to the Company's outstanding bank indebtedness.
http://www.marketwire.com/mw/release.do?id=1567691&sourceType=3
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