Perth based Eden Energy Ltd (“Eden”) (ASX Code: EDE) has executed a conditional Heads of Terms to sell its entire UK coal seam methane and shale gas portfolio for £10.061million to be satisfied by a cash payment of £750,000 and with the balance to be paid in fully paid ordinary shares in presently unlisted UK public company Shale Energy PLC (“Shale Energy”). The sale assets comprise Eden’s 50% joint venture interests in 17 Petroleum and Development Licences (PEDLs) in England and South Wales and its 100% interest in a further 3 PEDLs in South Wales (“Eden’s UK Licence Interests”)
