Vanguard Energy Corporation has entered into an agreement with an unrelated third party to sell all of Vanguard's working interests and related equipment at its only operating field, the Batson Dome Field in southeast Texas, for a gross price of $5,500,000.

The transaction is subject to approvals of Vanguard's shareholders and the holders of its secured convertible notes in the principle amount of $8,254,500 and is expected to close by the end of May 2014 and be effective as of April 1, 2014.

Tags: Vanguard Energy Corporation