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Gastar Closes East Texas Property Sale of Eaglebine

Source: www.gulfoilandgas.com 7/11/2013, Location: North America

Gastar Exploration Ltd. announced that it has agreed to provide Cubic Energy an additional extension on the closing of the previously announced sale of Gastar's East Texas properties. The closing of the transaction has been extended to July 31, 2013 with a termination date also of July 31, 2013 in order to allow Cubic Energy additional time to finalize financing. As compensation for the additional extension of the closing date, the parties have agreed to reduce certain identified due diligence negative adjustments to the purchase price by an additional $350,000.

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