EASTERN AMERICAN NATURAL GAS TRUST NGT announced today that the time
by which the Trust is required to either sell its interest in the Royalty NPI
it holds or engage an appraiser to appraise the Royalty NPI has been extended
from September 30, 2012 to October 31, 2012.
The sponsor of the Trust, Energy Corporation of America (“ECA”), granted the
waiver in order to allow the Trust additional time in which to market the
Royalty NPI. ECA will have the right to purchase the Royalty NPI at the
appraised value if the Royalty NPI has not been sold by October 31, 2012.
Under the terms of the Trust Agreement, ECA also has a right of first refusal
to purchase the Royalty NPI on the terms offered by any prospective third
party purchaser prior to the October 31, 2012 deadline.
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