Xtract Energy sells stake in Equus Mining

15th Feb 2013 12:08

Natural resources investor Xtract Energy has sold its stake in Equus Mining for 980,000 Australian dollars. The company's 14m shares in the Australian copper and gold explorer were sold for AU$0.07 per share.The oil and gas focused investor originally purchased 140m shares in Caspian Oil & Gas, an Australian listed company which has since changed its name to Equus Mining following a 10-to-1 share consolidation. The shares were acquired last May when an agreement was signed with Santos International Holdings releasing Santos from certain funding obligations. It formed part of the original farm-in subscription agreements between Santos and Xtract.Shares in Xtract soared 13.79% to 0.16p at 12:16 Friday.RD