12:58 PM EST - Stylus Energy Inc. : reported Monday that it has agreed to sell "certain non-producing, non-core assets" for $12 million in cash. The Alberta-focused junior company, with current production of 1,900 barrels of oil equivalent per day, said the assets being sold represent five per cent of its undeveloped land and total proven and probable reserves. The proceeds of the sale will be used to reduce bank debt. Stylus Energy Inc.
shares STY:CA are trading down six cents at $2.20.
