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Quotes & Info
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| EESV.PK > SEC Filings for EESV.PK > Form 8-K on 4-Sep-2009 | All Recent SEC Filings |
4-Sep-2009
Completion of Acquisition or Disposition of Assets, Financial S
On August 24, 2009, EESV Fayetteville, Inc. ("EESVF") entered into a Purchase and Sale Agreement (the "Sale Agreement") with Petrohawk Properties, L.P. ("Petrohawk") to sell its interest in the Fayetteville Shale Field for $3,800,000. EESVF is a wholly-owned subsidiary of Blaze Energy Corp. ("Blaze"), which is a majority owned subsidiary of Environmental Energy Services, Inc. ("EES"). Closing under the Sale Agreement occurred on September 3, 2009. The sales proceeds were substantially less than the book value of EESVF's interest in the Fayetteville
Shale Field. All net sales proceeds were used to satisfy a mortgage loan in the original principal amount of $500,000, and substantially all accounts payable and accrued expenses of EESVF and Blaze.
Exhibit No. Description
10.1 Purchase and Sale Agreement between EESV Fayetteville, Inc. and
Petrohawk Properties, LP
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