Deals - Acquisition, Mergers, Divestitures
RMP Energy Announces Montney Land Expansion
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RMP Energy Inc. (TSX:RMP) is pleased to announce that the Company continued the expansion of its Waskahigan area light oil resource-play through an agreement to acquire a 70% working interest in 7,840 contiguous acres of undeveloped land (5,488 net acres), including the Montney mineral rights but excluding the deep rights, from an arm's-length party for $8.5 million. The acquisition is subject to certain customary conditions. The land is located to the south east of RMP's existing Waskahigan asset base in West Central Alberta. The purchase is scheduled to close on or about April 2, 2012.
With existing well control on and surrounding the acreage to be acquired, RMP has identified up to 40 Montney light oil drilling locations. The purchase will be funded through the disposition of RMP's…
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