Market Overview

Escalera Resources Co. Extends Letter Of Intent Agreement To Explore Feasibility Of Developing GTL Plant

Share:

Escalera Resources Co. today announced the extension of its initial letter agreement (the "Letter Agreement') with Wyoming GTL, LLC ("WYGTL") to jointly explore the feasibility of developing a gas-to-liquids ("GTL") plant to be located in Wyoming (the "GTL Plant"). This extension allows for Escalera and WYGTL to continue to perform the detailed engineering, operations, construction, supply and related due diligence required to reach a definitive agreement.

The Letter Agreement will terminate on January 31, 2015 if a definitive agreement between Escalera and WYGTL has not been executed. Pursuant to the original agreement executed on May 30, 2014, none of the terms or conditions has changed. In the event a definitive agreement is not executed within the required period, WYGTL will reimburse the Company for any portion of the initial study capital previously funded to WYGTL.

 

Related Articles (ESCR)

View Comments and Join the Discussion!

Posted-In: News Press Releases

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com