Bullboard - Stock Discussion Forum Spyglass Resources Corp SGLRF

Spyglass Resources Corp is an oil and gas exploration and production company that conducts its operations in the Western Canadian Sedimentary Basin. The Company is a dividend paying, intermediate oil & gas company that trades on the TSX under the symbol 'SGL'. It operates oil and natural gas properties in Alberta, Saskatchewan and British Columbia.

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Spyglass Resources Corp > More Info Please

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Post by darkstream on Dec 01, 2014 10:04am

More Info Please

What the hell is a purchase sale agreement and why wont SGL disclose the purchaser?

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Comment by benmax on Dec 01, 2014 2:27pm

What don't you understand? They are selling the property for $12.3 mil.

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Comment by darkstream on Dec 01, 2014 3:35pm

who bought it? -also no one puts the word purchase in a sale of property - first time ever where the purchaser has not been disclosed?

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Comment by benmax on Dec 01, 2014 5:35pm

Not sure who bought it. I am sure that will come out in future reports. I do know the transaction closed with proceeds to the Company of $12.3 mil less closing adjustments

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Comment by power_auditor on Dec 01, 2014 4:34pm

BenMax.....do not forget to add that SGL has "thrown in" some very valuable seismic data for the area which must have been worth something to either the buyer and/or Spyglass. This data must have helped swung the deal for the buyer.....and looking at the area....no reason to believe SGL can not continue this same non-core asset sale process through-out the winter....just in time ...more

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Spyglass Resources Corp