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Atikwa Resources Inc. V.ATK

An oil and natural gas company


TSXV:ATK - Post by User

Comment by Irulecrapon Feb 02, 2011 11:57am
277 Views
Post# 18062134

RE: RE: update

RE: RE: updateThrough the acquisition, Legacyis acquiring 800 barrels per day (2010 exit rate) of high-quality, highnetback, light oil assets in an early stage resource play focused inthe Pierson area of southwest Manitoba for total consideration ofapproximately $185.4-million (subject to customary closing adjustments)consisting of $93-million in cash and 6.18 million Legacy common shares(subject to a 180-day escrow). In addition, Legacy is acquiring eightgross (6.0 net) standing wells awaiting completion. With theacquisition, Legacy increases its significant oil and natural gasliquids weighting to approximately 84 per cent of pro forma productionand proved plus probable reserves
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