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Gastar Extends the Closing on East Texas Property Sale

Source: www.gulfoilandgas.com 9/20/2013, Location: North America

Gastar Exploration Ltd. announced that it has granted Cubic Energy an additional extension to the closing deadline of the previously announced sale of Gastar's East Texas properties to September 30. Under the terms of the extension agreement, Cubic Energy has paid an additional deposit of $100,000 and has agreed to pay Gastar an additional $250,000 at closing as compensation for the extension, bringing the total transaction value to $47.25 million before closing adjustments.

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