Manitok Energy Inc. has entered into a definitive agreement to sell certain oil and gas assets in the Central Alberta Foothills (the "Asset Disposition") for gross proceeds to Manitok of $22.85 million, less closing adjustments of approximately $0.85 million.

The Asset Disposition includes approximately 777 boe/d (34% sweet natural gas, 60% sour natural gas and 6% liquids) of current production, based on February field estimates up to February 21, 2014, and 36,000 net acres of undeveloped land in the Antler, Banshee, Basing, Brown Creek, Cabin Creek, Gregg Lake, Lovett River, Smoky, Solomon, Sundance and Tower Creek areas. The assets were considered non-core and not forecast to receive any capital in 2014 or 2015.

Tags: Manitok Energy Inc.