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Syntroleum Announces Final Payment for Sale of Nigerian Assets

Source: www.gulfoilandgas.com 3/4/2008, Location: Africa

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Syntroleum Corporation has received a payment of $5,765,894 from African Energy Equity Resources Limited ("AEER") representing full and final payment of their debt obligation which arose from the Share Sale and Purchase Agreement between Syntroleum International, Syntroleum, AEER, and Energy Equity Resources (Norway) Limited ("EERNL") dated January 19, 2007 for the sale of Syntroleum International's Nigerian business.

Syntroleum Corporation has agreed to immediately withdraw all winding up proceedings against AEER and EERNL.

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