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Contango Sells Interest in Freeport LNG Project

Yesterday, Contango Oil & Gas Company announced that it has sold its 10% interest in Freeport LNG to a major Asian utility company. Contango’s press release (carried via Reuters) states that the sale was for approximately $68 million and that part of the
January 8, 2008

Yesterday, Contango Oil & Gas Company announced that it has sold its 10% interest in Freeport LNG to a major Asian utility company. Contango’s press release (carried via Reuters) states that the sale was for approximately $68 million and that part of the proceeds will be used to prepay an outstanding loan, with the remaining funds to be used for Contango’s working capital.

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