23rd May 2011 10:54
For Immediate Release 23 May 2011
Leed Petroleum PLC
("Leed" or the "Company")
Update of Sale of Oil and Gas Assets
Leed Petroleum PLC (AIM: LDP), the oil and gas exploration and production company, today announces that, further to the announcement on 6 May 2011, Leed Petroleum LLC ("Leed LLC") sold all of its oil and gas assets to a private company for US$16,000,000. This sale constitutes a sale of substantially all of the assets of Company. All of the proceeds from the sale will be used to satisfy debt owed to Unicredit Bank AG.
Leed Petroleum PLC Ian Gibbs
Tel: (+65) 6372 3575
Libertas Capital Corporate Finance Limited Sandy Jamieson
Tel: 020 7569 9650
Related Shares:
Leed Resources