(TheNewswire)
Calgary, Alberta, September 11, 2024 – TheNewswire – Blue Sky Global Energy Corp.(“Blue Sky”orthe“Company”) (TSXV:BGE) is pleased to announcethat further to the Company’s press release dated August 6, 2024, the Company has closed the acquisition of a 50% interest in certain heavy oil assets in Alberta (the “Acquisition” or “Acquired Assets”) from Blue Sky Resources Inc. (“BSR”) pursuant to a definitive agreement entered into by the parties dated August 19, 2024.
The Acquired Assets are located in the Cold Lake area of Alberta and are made up of approximately 192 hectares (BSG’s 50% net interest) prospective for the exploration of heavy oil. The Acquired Assets will continue to be operated by BSR and are being acquired from BSR for a purchase price of $307,849.50 (to be paid in cash), subject to adjustments, as may be required by the parties (“Purchase Price”). No shares will be issued as consideration for the Proposed Acquisition. The Company has the right to take over operatorship of the assts if and when requisite regulatory approvals are obtained.
The Company has obtained the necessary approvals to close the Acquisition, including receiving final acceptance from the TSX Venture Exchange (“Exchange”). No finder fees were payable by the Company in connection with the Acquisition.
AboutBlue Sky Global Energy Corp.
The Company is a publicly-traded entity listed on the TSXV under the symbol “BGE” with assets which are comprised primarily of approximately 180,000 acres of land (“Contracting Area”) located in the Corozal Basin in Belize which may hold prospective oil and gas resources, and which so far includes one discovery, the SBC field. The SCB field contains four wells, two of which have been tested, the SCB#1 and the SCB#2 wells. A wholly owned subsidiary of the Company has entered into a Production Sharing Agreement (“PSA”) with the Government of Belize. Pursuant to the PSA, this wholly owned subsidiary of the Company holds a 100% contractor position in the Contracting Area and has the exclusive right to conduct all petroleum operations within the Contracting Area. BSG also hold a 50% non-operating interest in 600 boed (on a net basis) in Northeastern British Columbia and through its whole owned subsidiary holds a production sharing contract on an area covering 8,214 square kilometers that is offshore East Natuna, Indonesia, known as the “Paus Block”.
ForMoreInformation
Blue Sky Global Energy Corp.
Mohammad Fazil
President, ChiefExecutiveOfficer, Corporate Secretary and Director
Email:mfazil@bsge.ca
Phone Number: 403-613-7310
CautionaryNoteRegardingForward-LookingStatements
This press release contains statements that constitute “forward-looking statements”. Such forwardlookingstatementsinvolveknownandunknownrisks,uncertaintiesandotherfactorsthat maycausetheCompany’sactualresults,performanceorachievements,ordevelopmentstodiffer materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, unduerelianceshouldnot beplacedonthem becausetheCompanycangivenoassurancethat they will prove to be correct. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include: information relating to the Proposed Acquisition;andthe exploration and developmentofthecompany’s assets.Such statements and information reflect the current view of the Company. By their nature, forward- looking statements involve known and unknown risks, uncertaintiesand other factors that may causetheactualresultsandfutureeventstodiffermateriallyfromthoseexpressedorimpliedby such forward-looking statements.
Theforward-lookingstatementscontainedinthisnewsreleaserepresenttheexpectationsofthe Company as of the date of this news release and, accordingly, are subject to change after such date.Readersshouldnotplaceundueimportanceonforward-lookingstatementsandshouldnot relyuponthisinformationasofanyotherdate.TheCompanyundertakesnoobligationtoupdate theseforward-lookingstatements intheeventthatmanagement’s beliefs,estimatesor opinions, or other factors, should change.
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
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