Urals Energy Public Co. Ltd., an independent exploration and production company with operations in Russia, reports the sale of certain of its non-core assets in the Komi Republic. The company is in the process of streamlining its portfolio to focus on its major assets in East Siberia.

The assets in the Komi Republic of Russia are set to be sold to a private third party buyer for a gross price of $93.5 million payable in cash, adjusted for current working capital. The net proceeds of the sale will be used to support the continued development of the company's assets and for general corporate needs.

The company continues to evaluate possible disposals of other non-core assets. Additionally, Bob Maguire has resigned his position as non-executive director.

Petroflow to sell CBM operation for $29

Petroflow Energy Ltd. has entered into a definitive purchase and sale agreement to sell its San Juan Basin coal bed methane property. The sale, which is still subject to due diligence on the part of the purchaser, is scheduled to close in May, 2008 for gross cash proceeds of $29 million.