One-Page Deal Sheet
Long Run Exploration to Be Bought Out by Chinese Investors
Sinoenergy Investment Corp. Long Run Exploration Ltd.
Announced Date
December 21,2015
Close Date
June 29,2016
Transaction Type
Corporate
Enterprise Value (EV)($MM)
770
Asset/Basin:
{"Deep Basin",Montney,Viking}
TargetZones:
{Montney,Viking,"Dee
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Canada
Country
Canada
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Require Private Equity Subscription
Long Run Exploration Ltd. has entered into a definitive arrangement agreement with a group of investors based in the People’s Republic of China pursuant to which the Purchaser has agreed to acquire: i) all of the outstanding common shares of Long Run for cash consideration of $0.52 per share, and ii) all of the outstanding 6.40% convertible unsecured subordinated debentures due January 31, 2019 of Long Run for cash consideration of $750 per $1,000 principal amount of Debentures plus accrued and unpaid interest.
Long Run Assets
The proposed transaction is to be completed by way of plan of…
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