The difference between the $38.1 million and the $41.5 million original sale price reflects post-closing adjustments. These funds will be used to eliminate the $28.1 million outstanding on Dune’s $40 million revolving credit facility, and for general corporate purposes.
James Watt, president and CEO of Dune Energy, said: This disposition allows Dune to focus its activity on high rate of return projects in the Gulf Coast and develop significant new deeper pool exploratory projects across our high quality property base.
