TORC's $128 Million Dollars Purchase.If this is what TORC must pay for an 1,550 bopd pruducer, what does that make RMP worth? A he'll-of-a-lot more than what we are currently trading at IMO.
TORC Oil & Gas (TSX: TOG, Stock Forum) increased its Western Canadian footprint when the company announced today that it had entered into an agreement to acquire light oil assets complementary to its currently existing conventional assets in southeast Saskatchewan.
According to the news release, the deal includes over 1,550 boepd (94% light oil and liquids) of high quality, low decline, strong netback, light oil producing assets for a total consideration of approximately $128 million.
The transaction will be carried out through the issuance of 16.0 million common shares of TORC at a price of $7.98 per share based on the company's 20-day volume weighted average trading price prior to the acquisition announcement.
Read more at https://www.stockhouse.com/news/newswire/2015/02/05/torc-oil-gas-t-tog-makes-strategic-asset-acquisition-saskatchewan#hWlUblB32kQw3wQm.99