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Alta Mesa Announces Termination of Eagle Ford PSA

Source: www.gulfoilandgas.com 1/30/2015, Location: North America

Alta Mesa Holdings, LP announced the termination of the previously announced Purchase and Sale Agreement related to the divestiture of its Eagle Ford Shale assets. On January 29, 2015, Alta Mesa notified ReOil Eagle I, LLC that it was terminating the Purchase and Sale Agreement due to ReOil's failure to deposit initial negotiated funds into an escrow account and for non-fulfillment of certain other obligations in the agreement.

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