One-Page Deal Sheet
Long Run Exploration Reduces Bank Debt with Asset Sale
Not Disclosed Long Run Exploration Ltd.
Announced Date
November 15,2012
Close Date
December 14,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
180
Asset/Basin:
{Viking}
TargetZones:
{Viking}
Location
Region
Canada
Country
Canada
Transaction Details: Require Private Equity Subscription
Initial Announcement - November 15, 2012
Long Run Exploration Ltd. is pleased to announce that it has signed a definitive purchase and sale agreement to sell certain non-core assets for total cash proceeds of approximately $180 million, before any closing adjustments.
The non-core assets include the Company's Viking interests located in the Plato / Dodsland / Lucky Hills areas of Saskatchewan. These assets are currently producing approximately 1,900 boe per day (1,800 barrels per day of crude oil and 600 mcf per day of natural gas, based on field estimates). Subject to receipt of all…
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