Sahara Energy Ltd.

Sahara Energy Ltd.

April 25, 2008 14:44 ET

Sahara Energy Ltd. Announces Sale of Properties

CALGARY, ALBERTA--(Marketwire - April 25, 2008) - Sahara Energy Ltd. ("Sahara") (TSX VENTURE:SAH) (PINK SHEETS:SAHRF), announces that it has closed the sale of two working interest properties. At Pembina, Sahara has sold its operated working interest in a marginal oil well for $187,699.95. Sahara also closed the sale of a non-operated heavy oil property in Western Saskatchewan for consideration of $1,387,141.55 in amounts owed by Sahara to the operator. These property sales will reduce Sahara's debt by $1,574,841.50 and strengthen its balance sheet. Sahara will continue to focus on its core area of Lloydminster, Alberta.


Statements in this press release may contain forward-looking statements including expectations with respect to future events and the actions of third parties. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: the underlying risks of the oil and gas industry (i.e. operational risks in development, exploration and production; potential delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserves estimates; the uncertainty of estimates and projections relating to production, costs and expenses, adequate available financing and health, safety and environmental factors), commodity price and exchange rate fluctuation and uncertainties.

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Contact Information

  • Sahara Energy Ltd.
    Peter J. Boswell
    (403) 232-1359
    Sahara Energy Ltd.
    800, 510 - 5th Street S.W.
    Calgary, Alberta T2P 3S2