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Altai Announces Sale of Cessford Oil Wells Property
Globenewswireยท 2025-09-29 22:32
Group 1 - Altai Resources Inc. has sold its 50% working interest in the Cessford Oil Wells Property in Alberta to Canadian Natural Resources Limited for a net liability settlement of $50,674 [1] - The net liability settlement includes both the sale of the asset and the settlement of the liability portion, resulting in a gain of $111,728, which is approximately 69% over the company's decommissioning liability [1] - The transaction was completed through an inter-bank cash transfer from Altai to CNRL [1] Group 2 - Altai Resources Inc. is based in Toronto, Ontario, and has a Canadian investment portfolio primarily consisting of cash and cash equivalents [2] - Additional information about the company can be found on SEDAR+ and its official website [2]