One-Page Deal Sheet
Deep Well Oil and Gas Partners with Maurel et Prom in Alberta
Maurel Et Prom Deep Well Oil and Gas Inc.
Announced Date
August 02,2013
Effective Date
July 31,2013
Close Date
August 02,2013
Transaction Type
JV - DrillCo
Enterprise Value (EV)($MM)
62
Asset/Basin:
{"Peace River oil sands"}
TargetZones:
{"Sawn Lake heavy oi
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Deep Well Oil & Gas, Inc. has raised $22 million USD in a private placement and signed a farmout agreement with a wholly owned subsidiary of Maurel et Prom to fund our share of the demonstration project at our Sawn Lake heavy oil reservoir in the Peace River oil sands region of Northern Alberta.
Deep Well has accepted a private placement from MP West Canada SAS, a wholly owned subsidiary of Maurel et Prom ("Maurel et Prom"), of $22 million US priced at 48.8 cents per share. Deep Well will issue 45.1 million shares to Maurel et Prom. Further, Maurel et Prom has entered into a joint venture…
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