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Share Name Share Symbol Market Type
TSXV:LVL TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Lynden to Sell US$19.3 Million of Oil and Gas Properties to Breitburn Energy Partners L.P.

23/12/2013 12:00pm

Marketwired Canada


Lynden Energy Corp. (TSX VENTURE:LVL) reports that the Company's wholly owned
subsidiary, Lynden USA Inc., has entered into a definitive agreement with
BreitBurn Energy Partners L.P. of Los Angeles, California, for the sale of the
subsidiary's interest in 12 gross (4.7 net) Wolfberry Project wells and
underlying leases covering approximately 1,000 gross acres (403 acres net to
Lynden USA) for proceeds of US$19.3 million.


The sale is expected to close on, and have an effective date of, December 30,
2013. The purchase price will be subject to customary closing adjustments for a
transaction of this type.


The Company's working interest in the wells to be sold ranges from approximately
22% to 44%. The Company's working interest partner in the assets has also
recently entered into an agreement to sell its interest.


The sale is in line with the Company's stated objective to sell portions of its
proven acreage in order to manage its working capital position and to redeploy
funds to its less developed and unproven acreage, where the Company believes it
can achieve the best returns for shareholders.


Prior to this sale, the Wolfberry Project currently covers approximately 17,978
gross (15,825 net) acres, equivalent to approximately 6,466 acres net to
Lynden's working interest, on which the Company has 79 gross (33.0 net) wells
tied-in and producing. 


The Company's current plans call for 28 gross (11.6 net) Wolfberry Project wells
to spud in calendar 2014. The Company does not anticipate any change in the
number of wells to be spud in calendar 2014 as a result of this sale. 


About Lynden 

Lynden Energy Corp. is in the business of acquiring, exploring and developing
petroleum and natural gas rights and properties. The Company has various working
interests in the Wolfberry Project and Mitchell Ranch Project, located in the
Permian Basin in West Texas, USA.




                     ON BEHALF OF THE BOARD OF DIRECTORS                    
                             LYNDEN ENERGY CORP.                            
                                                                            
                                "Colin Watt"                                
                              President and CEO                             



FORWARD-LOOKING STATEMENTS DISCLAIMER: This news release contains
forward-looking statements. The reader is cautioned that assumptions used in the
preparation of such statements, although considered accurate at the time of
preparation, may prove incorrect, and the actual results may vary materially
from the statements made herein. Expectations of spudding 28 gross (11.6 net)
Wolfberry Project wells in calendar 2014 is subject to the customary risks of
the oil and gas industry. For a more detailed description of these risks, and
others, see http://lyndenenergy.com/risk-factors/.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Lynden Energy Corp.
Colin Watt
President and CEO
(604) 629-2991
(604) 602-9311 (FAX)
www.lyndenenergy.com

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