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Surge Energy to Acquire Mount Bastion Oil & Gas in All-Stock Deal

Surge Energy Inc Mount Bastion Oil And Gas
AnnouncedSep 6, 2018
TypeCorporate
Announced Date
September 06,2018
Close Date
October 25,2018
Transaction Type
Corporate
Enterprise Value (EV)($MM)
320




Snapshot
TargetZones:
{"Beaverhill Lake Gr
% Oil:
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Proved Reserves
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Location
Region
Canada

Country
Canada

Production & Reserves
Production
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Production Mix
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Reserves
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Calculated Metrics( EV/Category)
$/ Flowing
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Transaction Details:  Subscribe to see

Surge Energy Inc. and Mount Bastion Oil and Gas Corp. have entered into an arrangement agreement whereby Surge has agreed to acquire all of the issued and outstanding common shares of MBOG for $320 million.

The MBOG Assets include:

5,500 boepd (98% liquids) of operated, light oil production from the structural reef complexes within the geological Beaverhill Lake Group – with a corporate decline of 23% Proved + Probable reserves of 25 MMBOE (98% oil) The MBOG Assets are located near Surge’s core, waterflooded, light oil pools at Nipisi and Nipisi South in Western Alberta.

Paul Colborne…


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