03:49 PM EST - Mobius Resources Inc. : announced that it has entered into a purchase and sale agreement related to a portion of its California acreage with a multi-national oil and gas producer. The agreement involves the sale of approximately 4,285 net acres of land in the San Joaquin Basin for gross proceeds of approximately $1.4 million U.S. (US$325/acre). Mobius will retain overriding royalty interests in the land of up to 2%. The transaction, representing approximately 6% of the Company’s land holdings in California, is expected to close by June 5, and is subject to customary closing conditions and regulatory approvals. Mobius Resources Inc.
shares V.MB are trading up $0.03 at $0.52.
