RE: OFF SHORE SALESNEWS RELEASE TRANSMITTED BY MarketwireFOR:Bridge Resources Corp.TSX VENTURE SYMBOL:BUK
Bridge Resources Corp. Announces Strategic Re-FocusMAR 25, 2010 - 16:10 ET
CALGARY, ALBERTA--(Marketwire - March 25, 2010) - Bridge Resources Corp. ("Bridge") (TSX VENTURE:BUK)announces that it has retained Stellar Energy Advisors Ltd. ("Stellar")to market for sale its UK Southern North Sea Gas Area portfoliocomprising 100% working interests in the Durango Field, the Aspenextension prospect, and the Wherry development project. Bridge willpursue a corporate sale of its wholly-owned Bridge North Sea Limitedsubsidiary which includes all these assets and unused tax credits.
Theproceeds from the sale, which is expected to be finalized in June, willbe used to retire the remaining debt and to provide additional capitalfor the accelerated development of the high potential USA Onshore BoiseBasin Project and other related new ventures. Bridge's debt comprisesPounds Sterling 28,715,244 payable to a banking syndicate and aC$20,000,000 convertible loan facility.
Let's see, July, August, September, October .......... four months ago !!!