Loma Oil & Gas Ltd.

February 05, 2014 16:02 ET

Loma Oil & Gas Completes Sale of Assets in the Wainwright Area of Alberta

CALGARY, ALBERTA--(Marketwired - Feb. 5, 2014) - Loma Oil & Gas Ltd. ("Loma" or the "Company") (TSX VENTURE:LOG.H) is pleased to announce that it has completed the sale of its right, title and interest in Wainwright Unit No. 18 (the "Wainwright Unit") and certain other lands, leases and wells in the Wainwright area of Alberta (the "Non-Unit Assets") to an arm's length Alberta private company (the "Purchaser").

The disposition was completed in accordance with the terms of a definitive purchase and sale agreement entered into with the Purchaser. At closing, in consideration for a cash payment of CDN$272,058 (exclusive of GST and subject to adjustments), the Purchaser purchased Loma's 1.7798894% interest in and to the Wainwright Unit and Loma's 1.701194% interest in and to the Non-Unit Assets. Further details regarding the terms of the transaction are set out in the definitive purchase and sale agreement which will be filed on Loma's profile on SEDAR at www.sedar.com.

Cautionary Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Loma Oil & Gas Ltd.
    Ken Hughes
    President, Chief Executive Officer and Director
    (403) 971-1874