From Earlier: Carrizo Oil & Gas, Inc.
CRZO today announced that it has entered into a definitive
agreement to sell its wholly owned subsidiary Carrizo UK Huntington
Limited, and all of its interest in the Huntington Field in the UK
North Sea to a subsidiary of Iona Energy Inc. (TSX VENTURE: INA) for
a cash consideration of $184 million. Carrizo expects to net
approximately $116 million, after payment of approximately $70
million to retire and close our UK credit facility, working capital
adjustments and transaction related costs. This transaction is
expected to close on or before the end of January, and is subject to
customary closing conditions and purchase price adjustments.
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