Richards Oil & Gas Limited closes sale of Thorsby assets

CALGARY , Nov. 4 /CNW/ - Richards Oil & Gas Limited (the "Company"), (TSX Venture: RIX) Further to the Company's press releases dated October 6, 2009 and October 16, 2009 , the Company announced today that it has closed the previously announced sale of its Thorsby property. The Thorsby property disposition was made to a private oil and gas company for proceeds of $1.4 million , reduced by normal course purchase and sale adjustments and approximately $45,000 in transaction fees.

    
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For further information: Dr. Brian Moss, Chairman of the Board, Richards Oil & Gas Limited, Tel: [phone]; Lonn Bate, CFO and Interim CEO, Richards Oil & Gas Limited, Tel: [phone]; Corporate website address: http://www.richardsoilandgas.com