One-Page Deal Sheet
TORC Oil and Vero Energy Announce Merger
Vero Energy Inc. Not Disclosed
Announced Date
September 13,2012
Close Date
November 19,2012
Transaction Type
Corporate
Asset/Basin:
{Cardium,"Bakken (southern Alberta)"}
TargetZones:
{Cardium,"Bakken (so
Transaction Details: Subscribe to see
Vero Energy Inc, and TORC Oil & Gas Ltd, are pleased to announce that they have entered into an agreement that provides for the combination of Vero and TORC to create a new light oil focused company. TORC, currently a private oil and gas company with focused operations in the Cardium light oil resource trend and in the southern Alberta Bakken petroleum system will be combined with Vero's focused Cardium light oil assets.
Concurrent with the Transaction, TORC has entered into a $100 million "bought deal" private placement financing ("TORC Financing") with a syndicate of underwriters as…
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