GREY:LSTMF - Post by User
Comment by
JohnDDon Dec 01, 2013 5:04pm
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Post# 21957903
RE:RE:for sale
RE:RE:for sale
Thanks for the link Itrabs, will be interesting to see how they make out.
Here's the news release from a recent sale of 520 boepd by Birchcliff Energy for $59 million - metrics of $113.5k /boepd. I would assume that LTS should be able to generate similar metrics for their properties.
John
https://www.birchcliffenergy.com/pressreleases.htm
BIRCHCLIFF ENERGY LTD. ANNOUNCES CLOSING OF $59 MILLION DISPOSITION
Calgary, Alberta - Birchcliff Energy Ltd. ("Birchcliff") (TSX: BIR) is pleased to announce the closing of its $59 million disposition of its non-core Progress Doe Creek Assets. The sale transaction included approximately 520 boe per day of light oil production, 2.7 million boe of proved reserves and 4.5 million boe of proved plus probable reserves. The net proceeds of approximately $55 million, were used to reduce debt.
Birchcliff will realize a significant one-time gain in net income. The sale of these assets will not result in any reduction of Birchcliff’s credit facilities.
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