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Cardinal Closes Pinecrest Asset Acquisition

Cardinal Energy Ltd. Pinecrest Energy Inc.
AnnouncedFeb 17, 2015
TypeProperty
Announced Date
February 17,2015
Effective Date
April 16,2015
Close Date
April 15,2015
Transaction Type
Property
Enterprise Value (EV)($MM)
24




Snapshot
Net Acres
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Proved Reserves
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Location
Region
Canada

Country
Canada

Production & Reserves
Production
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Reserves
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Calculated Metrics( EV/Category)
$/ Flowing
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$/ Acre
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Transaction Details:  Subscribe to see

Closing Announcement - April 16, 2015

Pinecrest Energy Inc. and Cardinal Energy Ltd. have annnounced the completion of the previously announced reorganization of the business of Pinecrest pursuant to a plan of arrangement involving Cardinal, Virginia Hills Oil Corp., the Company and the Company's shareholders under the Business Corporations Act.

Under the terms of the Arrangement, approximately 90% of the oil and gas assets previously owned and operated by Pinecrest have been transferred to Virginia Hills and all of the outstanding shares of Pinecrest have been sold to Cardinal together with…


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