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Twin Butte Energy Acquires Avalon Exploration

Twin Butte Energy Ltd. Avalon Exploration, Inc.
AnnouncedJun 26, 2012
TypeCorporate
Announced Date
June 26,2012
Close Date
August 29,2012
Transaction Type
Corporate
Enterprise Value (EV)($MM)
89




Snapshot
Net Acres
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PV-10 ($MM)
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Location
Region
Canada

Country
Canada


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Twin Butte Energy Ltd. is pleased to announce that it has entered into an arrangement agreement providing for the acquisition by Twin Butte of all of the outstanding class A common shares of Avalon Exploration Ltd. ("Avalon") on the basis of 1.1 common shares of Twin Butte ("Twin Butte Share") for each outstanding Avalon Share (the "Acquisition"). Avalon is a private company with 100 percent of its production being heavy oil from properties located in the greater Lloydminster area. Based on the five day weighted average trading price of the Twin Butte Shares ended June 22, 2012 of $2.29, the…


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