09:47 AM EST - Madison Energy Corp. : announced that it has entered into a letter of intent to sell its oil and gas holdings in the Garrington area of Alberta to a third party, for gross proceeds of $4.5 million. The sale will be effective October 1, 2009 and is expected to close on or before December 30, 2009. The sale of Garrington is subject to the approval of the TSX Venture Exchange and normal industry due diligence. Madison Energy Corp.
shares V.MDC are trading up $0.015 at $0.15.
