One-Page Deal Sheet
Legend Sells Wildmere Interest, First in Series of Canadian Divestments
Not Disclosed Legend Oil and Gas, Ltd.
Announced Date
December 04,2013
Close Date
December 04,2013
Transaction Type
Property
Enterprise Value (EV)($MM)
2
Location
Region
Canada
Country
Canada
Transaction Details: Subscribe to see
Legend Oil and Gas Ltd. has announced that the Company has closed the first in a number of asset sales previously announced in its Canadian subsidiary, Legend Energy Canada Ltd.
The Wildmere Unit interest, producing approximately 25 barrels of oil per day (BOPD), was sold at a price of CAD$1,955,000 before adjustments, which translates to a price of $78,200 per flowing barrel and over four times current cash flow. This divestment follows the strategy employed by the Company to sell assets at a higher price point than those it is able to acquire. The previously announced McCune Kansas…
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