tuscaloosa | east slope | project h | north shuteston | gilbertown | krotz springs | saxet | other projects
On January 22, 2008, Daybreak Oil and Gas, Inc. announced that the Company signed a
Purchase and Sale Agreement (“PSA”) to sell its Tuscaloosa Project properties located in Tensas and Franklin Parishes, Louisiana. The transaction will close in two tranches, the first closing for
$2 million, representing 25% of Daybreak's working interest closed on January 18, 2008. The second closing in the amount of $6 million is scheduled for March 31, 2008, for the remaining
75% of the Company's working interest. The sale includes Daybreak's interests in the Tensas
Farms A-1, B-1, F-1, F-2 and F-3 wells; and all of its remaining acreage and infrastructure in the project area. Under terms of the PSA, the effective dates for the respective closings will be
January 1, 2008 and March 1, 2008, and are subject to customary closing conditions.

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