Fairborne Energy Ltd.
TSX : FEL

Fairborne Energy Ltd.

July 05, 2011 17:45 ET

Fairborne Announces Closing of Partial Divestiture in Marlboro Gas Plant

CALGARY, ALBERTA--(Marketwire - July 5, 2011) - Fairborne Energy Ltd. ("Fairborne" or the "Company") (TSX:FEL) is pleased to announce that it has closed the previously announced divestiture of a partial interest in the Marlboro Gas Plant. The Marlboro Gas Plant is a 40 million cubic feet per day sweet natural gas processing facility that also includes natural gas liquids recovery and a sales line that delivers to the TCPL Meter Station at Nose Hill. Fairborne sold a forty percent (40%) working interest in the Marlboro Gas Plant to a third party midstream company for proceeds of $18 million while retaining a forty-two percent (42%) working interest and priority access to the divested working interest capacity.

Fairborne is a crude oil and natural gas exploration, development and production company headquartered in Calgary, Alberta, Canada. Fairborne's common shares trade on the Toronto Stock Exchange under the symbol "FEL".

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