Saturday, October 20, 2007

Natural Gas Asset Sold for $180 Million

Denbury Resources Incorporated reported today that has agreed to sell its Louisiana natural gas assets for about $180 million plus any amounts received from a net profits interest, to a privately held company. The sale is expected to close in 30 to 45 days.

Denbury Resources Incorporated reported today that it expected that the ultimate sales price might be increased by up to 10%, depending on certain profit sharing deal.

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