One-Page Deal Sheet
Petrus Sells Peace River Assets to PrivateCo for $30 Million
Rising Star Resources Ltd. Petrus Resources Ltd.
Announced Date
July 11,2016
Effective Date
April 01,2016
Close Date
July 08,2016
Transaction Type
Property
Enterprise Value (EV)($MM)
30
Asset/Basin:
{"Western Canada Sedimentary Basin","Peace River"}
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Canada
Country
Canada
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Require Private Equity Subscription
Petrus Resources Ltd. has sold its oil and natural gas interests in the Peace River area of Alberta to Rising Star Resources Ltd., a private company, for total consideration of $30.0 million.
The consideration is comprised of $29.0 million in cash and 1.0 million shares of Rising Star at a deemed value of $1.00 per share. The Disposition closed on July 8, 2016 and has an effective date of April 1, 2016.
In June 2016, production in the Peace River area averaged approximately 1,000 boe per day (55% oil and natural gas liquids), which comprised approximately 12% of the Company's total…
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