PXX Pearl Exploration And Production LT Com Npv

Pearl Exploration and Production Ltd. ("Pearl" or the "Company") (TSX
VENTURE:PXX)(FIRST NORTH:PXXS) is pleased to report that it has closed the sale
of certain of Pearl's non-core heavy oil assets to a large integrated energy
company as previously announced on April 25, 2008. In consideration, the Company
received $75 million, net of typical purchase price adjustments.


Pearl President and CEO stated, "We are pleased that this asset deal has been
completed. The proceeds give us a very strong balance sheet and we will now be
able to better focus our technical and financial resources on our core large
scale heavy oil properties."


Pearl Exploration and Production Ltd. is a public company focused on delivering
disciplined growth by establishing a North American portfolio of heavy oil
projects with an emphasis on large resource opportunities. Additional
information on Pearl is available on the Company's website at
www.pearleandp.com.


Pearl's Certified Advisor on First North is E. Ohman J:or Fondkommission AB.

Forward-looking statements: This document contains statements about expected or
anticipated future events and financial results that are forward-looking in
nature and as a result, are subject to certain risks and uncertainties, such as
general economic, market and business conditions, the regulatory process and
actions, technical issues, new legislation, competitive and general economic
factors and conditions, the uncertainties resulting from potential delays or
changes in plans, the occurrence of unexpected events, and the Company's
capability to execute and implement its future plans. Actual results may differ
materially from those projected by management. For such statements, we claim the
safe harbour for forward-looking statements within the meaning of the Private
Securities Legislation Reform Act of 1995.

Pearl Exploration And Production LT Com Npv (TSXV:PXX)
Historical Stock Chart
From May 2024 to Jun 2024

Pearl Exploration And Production LT Com Npv (TSXV:PXX)
Historical Stock Chart
From Jun 2023 to Jun 2024