Pardee Resources Company Divests Pennsylvania Oil and Gas Interests

Live

Stocks are rallying as Trump eased fears over China tariffs and Powell. See the latest.

PR Newswire

Wed, Apr 16, 2025, 5:21 PM

RADNOR, Pa., April 16, 2025 /PRNewswire/ -- Pardee Resources Company (OTC: PDER) (the "Company") announced today that it closed on the sale of approximately 8,800 acres of oil & gas interests located in Elk and Cameron Counties, Pennsylvania for $10 million dollars. "These interests, which were acquired over 100 years ago, were non-revenue producing and deemed non-strategic to the Company," said Carleton P. Erdman, President and CEO.

In addition to historical statements, this press release contains statements relating to future events and our future results. These statements are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our judgments and future expectations concerning our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, difficult economic conditions and other risks and uncertainties. As a result, these forward-looking statements may turn out to be incorrect. We are under no obligation to (and expressly disclaim any obligation to) update or alter these forward-looking statements whether as a result of new information, future events or otherwise.