One-Page Deal Sheet
Quattro Makes Sale of BC Exploration Lands
Nordic Oil and Gas Ltd. Quattro Exploration and Production Ltd.
Announced Date
March 26,2014
Transaction Type
Property
Asset/Basin:
{"Western Canadian Sedimentary Basin","Deep Basin/Peace River Arch"}
TargetZones:
{Cardium,Cadotte,Pad
Location
Region
Canada
Country
Canada
Transaction Details: Subscribe to see
Quattro has announced the sale of its 80% interest in exploration lands located at Noel, BC to Nordic Oil and Gas Ltd.
In connection with the sale, Quattro acquires a 2.5% GORR on the lands and retains an option to convert to a 25% net operating interest at the casing point of the first well. The sale price was $300,000 paid by way of the issuance of a securitized Promissory Note for $100,000, due on or before December 2014, yielding 8% interest per annum and 4,000,000 units of Nordic (Units), each Unit consisting of one (1) Class A common share of Nordic (Nordic Shares) and 4,000,000…
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