GREENWOOD RESOURCES <GRRL> SELLS COMPANY STAKE
Greenwood Resources Inc said it has sold
its 4,300,000 common share majority holding in <New London Oil
Ltd> of London to an affiliate of <Guinness Peat Group PLC> of
London and an affiliate of <Sidro SA> of Belgium for a total of
1,700,0000 dlrs in cash.
    The company said it will apply the proceeds of the sale to
support its line of credit and as part of a proposed debt
restructuring with Colorado National Bancshares <COLC> and
Greenwood shareholders.
    It said it will retain a seat on the New London board.
 Reuter
