LONDON (Thomson Financial) - Ultra Petroleum Corp has announced the
execution of a stock purchase agreement for the sale of Sino-American Energy
Company, which represents all of Ultra's interests in Bohai Bay, China for 223
mln usd.
The company said the reserve volumes sold represent all of Ultra's
international assets and comprise approximately 1 pct of Ultra's year-end 2006
proved reserves.
Ultra said the sale is expected to close during the fourth quarter of 2007
and is subject to normal closing conditions.
The purchaser is SPC E&P (China) Pte Ltd, a wholly-owned subsidiary of
Singapore Petroleum Company Limited.
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