April 16 (Reuters) - Pinnacle Gas Resources Inc:
* Divests assets, chairman of the board resigns
* Says sold undeveloped acreage and certain gas gathering assets
* Says used a portion of proceeds to reduce amount under existing credit
facility borrowed to $9 million
* Says net proceeds of approximately $3.2 million
* Says Steven Webster, chairman, announced resignation from board
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* Divests assets, chairman of the board resigns
* Says sold undeveloped acreage and certain gas gathering assets
* Says used a portion of proceeds to reduce amount under existing credit
facility borrowed to $9 million
* Says net proceeds of approximately $3.2 million
* Says Steven Webster, chairman, announced resignation from board
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.