One-Page Deal Sheet
Manitok to Ditch Non-Core Assets in Central Alberta Foothills
Petrus Resources Ltd. Manitok Energy Inc.
Announced Date
February 27,2014
Effective Date
January 01,2014
Close Date
February 28,2014
Transaction Type
Property
Enterprise Value (EV)($MM)
23
Asset/Basin:
{"Alberta Foothills"}
TargetZones:
{Cardium}
Net Acres
% Oil:
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Canada
Country
Canada
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Require Private Equity Subscription
Manitok Energy Inc. has entered into a definitive agreement to sell certain oil and gas assets in the Central Alberta Foothills for gross proceeds to Manitok of $22.85 million, less closing adjustments of approximately $0.85 million.
The Asset Disposition includes approximately 777 boe/d (34% sweet natural gas, 60% sour natural gas and 6% liquids) of current production, based on February field estimates up to February 21, 2014, and 36,000 net acres of undeveloped land in the Antler, Banshee, Basing, Brown Creek, Cabin Creek, Gregg Lake, Lovett River, Smoky, Solomon, Sundance and Tower Creek…
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