Resaca Exploitation Inc Corporate Update (8536T)
December 19 2012 - 1:00AM
UK Regulatory
TIDMRSOX
RNS Number : 8536T
Resaca Exploitation Inc
19 December 2012
Embargoed for release at 7.00 am 19 DECEMBER 2012
Resaca Exploitation, Inc.
("Resaca" or "the Company")
Corporate Update
Resaca (AIM:RSOX), the oil and natural gas production,
exploitation, and development company focused on the Permian Basin
in the USA, announces an update on certain corporate matters.
On 8 October 2012, the Company announced that it had engaged
Albrecht & Associates, Inc. to market the sale the Company's
Cooper Jal Unit and Langlie Jal Unit and that the Company
anticipated closing on the sale of these properties by 31 December
2012. The Company now anticipates the closing would occur in early
2013. The Company will provide a further update on the sales
process when more definitive information is available.
The Company also announces that Will Gray II, Executive Vice
President and Head of Capital Markets and Business Development, has
resigned his position with Resaca to pursue other interests. The
sales process will now be handled by Resaca's existing
management.
For further information please contact:
Resaca Exploitation, Inc.
J.P. Bryan, Chairman and Chief Executive
Officer +1 713-753-1300
John J. ("Jay") Lendrum, III, Vice Chairman +1 713-753-1400
Dennis Hammond, President and Chief
Operating Officer +1 713-753-1281
Chris Work, Chief Financial Officer +1 713-753-1406
Buchanan (Investor Relations) +44 (0)20 7466 5000
Tim Thompson
Helen Chan
Ben Romney
finnCap Limited (Nomad and Broker) + 44 (0) 20 7220 0500
Matt Goode, Corporate Finance
Christopher Raggett, Corporate Finance
Victoria Bates, Corporate Broking
About Resaca
Resaca is an independent oil and gas development and production
company based in Houston, Texas. Resaca is focused on the
acquisition and exploitation of long-life oil and gas properties,
utilizing a variety of primary, secondary and tertiary recovery
techniques. Resaca's current properties are located in the Permian
Basin of West Texas and Southeast New Mexico. Additional
information is available at www.resacaexploitation.com.
In accordance with the AIM Rules, the information in this
announcement has been reviewed and approved by Dennis Hammond,
President. Mr. Hammond has a Bachelor of Science degree in
Petroleum Engineering, is a registered professional engineer in the
State of Texas, and has over 30 years relevant experience within
the sector.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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