Leed Petroleum PLC , the oil and gas exploration and production company, today announces that, further to the announcement on 6 May 2011, Leed Petroleum 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 is a public limited company registered on 20 December 2006 in England and Wales under company number 06034226. The Company’s principal business activity is oil and gas exploration and production focussed wholly on the Gulf of Mexico region in the USA. Through its wholly owned subsidiaries, Leed Petroleum Inc. and Leed Petroleum LLC, the Group has working interests in 17 leases on the Outer Continental Shelf (OCS), in the Gulf of Mexico and one onshore field located in South Louisiana, USA.
Source:Leed Petroleum , May 23, 2011;