![](https://investorshub.advfn.com/uicon/7492.png?cb=1535647788)
Friday, January 18, 2008 11:48:27 AM
Tidelands Oil & Gas Corporation Announces Sale of Sonterra
Jan 17, 2008 17:08:00 (ET)
SAN ANTONIO, Jan 17, 2008 /PRNewswire-FirstCall via COMTEX/ -- Tidelands Oil & Gas Corporation (TIDE, Trade ) today announced the sale of the Company's wholly-owned subsidiary, Sonterra Energy Corporation (Sonterra) to Bentley Energy Corporation. Sonterra is a propane distribution company operating in central Texas.
The sales price for Sonterra is $3 million, of which $2,925,000 was paid in cash on the January 9, 2008 closing date and the remaining $75,000 is due on or before January 9, 2009.
The bulk of the net proceeds from closing was used to repay all of the outstanding principal balances on the Company's convertible debentures and repurchase warrants to purchase 2,071,407 shares of the Company's common stock. The remaining 474,521 Series A warrants are the only remaining outstanding warrants issued by the Company.
Tidelands Oil & Gas Corporation, San Antonio, Texas, focuses on development of mid-stream natural gas projects including natural gas pipeline infrastructure, retail NGL sales, and natural gas receiving and storage facilities. Through its subsidiaries, Tidelands offers a full suite of services and has the capability to satisfy a wide variety of customer needs, both domestically and internationally.
SOURCE Tidelands Oil & Gas Corporation
Rome did not create a great empire by having meetings, they did it by killing all those who opposed them.
Panther Minerals Inc. Launches Investor Connect AI Chatbot for Enhanced Investor Engagement and Lead Generation • PURR • Jul 9, 2024 9:00 AM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM