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Stocks in play: Condor Petroleum Inc

Baystreet.ca

Said its wholly-owned subsidiary, Falcon Oil & Gas, has entered into a binding agreement to sell Falcon’s 100% interests in the Shoba and Taskuduk production contracts and associated field equipment for $24.6 million U.S. which, at the current exchange rate of 1.33 is equivalent to approximately $32.7 million Canadian. The Sales Agreement provides for the buyer, a non-listed international oil and gas group (to pay an initial deposit of $3.8 million U.S. within 10 business days of signing the Sales Agreement and the remaining amount is due upon closing the transaction. Condor Petroleum Inc shares T.CPI are trading up $0.13 at $0.26.