Spartan Oil Corp. Announces Receipt of an Unsolicited Offer
CALGARY, ALBERTA--(Marketwire - Dec. 10, 2012) -
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Spartan Oil Corp. ("Spartan" or the "Company") (TSX:STO) has received an unsolicited offer from a third-party to acquire all of the issued and outstanding common shares of the Company. The Company's Board of Directors will consider the unsolicited offer in consultation with its legal, financial and strategic advisors and will communicate further with Spartan's shareholders in accordance with applicable securities laws.
The Company is engaged in the business of acquiring crude oil and natural gas properties and exploring for, developing and producing oil and natural gas in western Canada. Spartan is uniquely positioned with a significant position in two of the leading oil resource plays in western Canada, being the Cardium light oil play in central Alberta and the Bakken light oil resource play in southeast Saskatchewan