Canamax Energy Ltd. Property Divestiture

 

Sayer Energy Advisors has been engaged to assist Canamax Energy Ltd. (“Canamax” or the “Company”) with the sale of its non-core oil and natural gas properties located in the Brazeau River and Grande Prairie areas of Alberta.

  • At Brazeau River, Canamax’s recent sales from two 100% working interest Cardium oil wells and one Rock Creek natural gas well have averaged 192 boe/d (820 Mcf/d of natural gas and 11 barrels of oil per day, and 44 barrels of free condensate and natural gas liquids per day).
  • As of October 7, 2017, the Brazeau River property had a deemed net asset value of $1.49 million (deemed assets of $2.36 million and deemed liabilities of $0.87 million), with an LLR rating of 2.70.
  • Recent sales net to Canamax from a number of Dunvegan and Montney oil and natural gas wells at Grande Prairie have averaged approximately 368 barrels of oil equivalent per day (113 barrels of oil per day, 42 barrels of natural gas liquids per day and 1.28 MMcf/d of natural gas).
  • As of October 7, 2017, the Grande Prairie property had a deemed net asset value of $4.18 million (deemed assets of $8.10 million and deemed liabilities of $3.92 million), with an LLR rating of 2.08.

To book an appointment to visit the
Data Room or for more information
please contact:

Ben Rye, Grazina Palmer, Tom Pavic,
Ryan Ferguson Young or Alan Tambosso
at 403.266.6133.

  • Sections:
  • M&A

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