Deals - Acquisition, Mergers, Divestitures
Blackbird Energy Inc. To Acquire Ruger Energy Inc.
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Blackbird Energy Inc., is pleased to announce that it has entered into a non binding Letter of Intent (“LOI”) dated August 2, 2012 with Ruger Energy Inc. (“Ruger”) for the acquisition of Ruger by Blackbird (the “Acquisition”). Ruger’s assets consist of cash and oil and gas assets. The Acquisition will be subject to the approval of the TSX Venture Exchange (the "Exchange"). The Acquisition is an arm's length transaction.
Ruger is a junior oil and gas exploration and development company in Alberta.
The Ruger Oil and Gas Assets
Ruger has a 100% working interest in 680 acres in Alsask area located on the Alberta/Saskatchewan border. The property has 3 producing Mannville oil wells and 1 Glauconite water disposal well. Present production is 20 bopd. The oil is 15 degree API. The Glauconite…
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