Kansas: Statesman sells Reichel gas field assets

Statesman Resources Ltd., Vancouver, BC, as part of a rationalization of noncore assets, has sold Reichel gas field and related leases in Rush County, Kan., to an undisclosed buyer for $302,500.

With continued low gas prices being realized in Kansas together with the low gas quality, the field required a large further investment to generate an income stream material to the company, Statesman said.

The board continues to pursue its Africa-focused exploration strategy and has made good progress with respect to starting geological and geophysical work on Block 14 in Sudan which was awarded in July 2012. Statesman has a 50.1% shareholding in Statesman Africa Ltd., which holds a 75% working interest in Block 14.

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