Storm Cat Energy agrees to sell Arkansas assets for $4 million

By Lisa Kerner

Charlotte, N.C., Nov. 17 - Storm Cat Energy (USA) Corp. and its affiliated debtors asked the court to approve the sale of certain assets to Chesapeake Exploration LLC for $4 million, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Colorado.

The assets include certain oil and gas leases and natural gas producing properties in Arkansas.

Storm Cat, with headquarters in Denver and Calgary, Alta., filed for bankruptcy on Nov. 10, 2008. The Chapter 11 case number is 08-27887.

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