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Connacher sells Latornell property and shares in Gran Tierra Energy (Connacher)
CALGARY _ Connacher Oil and Gas Ltd. (TSX:CLL) said Monday it has increased its cash holding to $120.3 million, thanks to the sale of its Latornell properties and its shares of Gran Tierra Energy Inc. (TSX:GTE).The diversified oil and gas producer had previously announced its intentions to sell the assets as it works to pay down its debt. It did not specify how much it received for the individual sales, but its stake in Gran Tierra had been valued at about $20 million. The company`s cash balance stood at $81.7...
Published By: Oilweek Magazine - Today
