Anderson Energy Ltd. (AXL.TO) continues to focus on its light oil development prospects. The Company has reached an agreement in principle to terminate its commitment to drill 74 Edmonton Sands natural gas wells.
In consideration for the termination of the commitment, the company will convey to the farmor a 25% carried interest in four Cardium horizontal light oil wells that have been drilled or will be drilled in the fourth quarter of 2012 and first quarter of 2013.
AXL went down by 2% to $0.235, almost hitting year low 21 cents. About 238,000 AXL shares have changed hands.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
