1. The 10K; page #41 shows a PV-10 Valuation of $12,786,000 for the Hilltop; East Texas properties.
The estimated Selling price is $46,000,000.
GST uses a Full Cost Method Accounting on the Properties.
Under Full Cost, there isn't any Profit or Loss.
The $46 Million will just reduce the Valuation on the Balance Sheet.
The Positive effect from this "Reduction" is that Future DD&A Expense per BOE is reduced.
2. According to the Press Release, GST will Net $25 Million in Cash after paying down the Credit Facility borrowing. The payment of Debt is due to the reduction on properties under Lien.