Signalta Resources Limited — Non-Operated Unit Interest Divestiture

Signalta Resources Limited (“Signalta” or the “Company”) has engaged Sayer Energy Advisors to assist it with the sale of its working interests in certain non-operated natural gas units located in various areas of Alberta (the “Properties”).

The Properties consist of various working interests in the Bindloss Unit No. 1, Brazeau River Gas Unit, Carstairs Elkton Unit, East Crossfield Unit, Ferrybank Belly River Gas Unit, Gilby North Basal Quartz Unit, Johnson Glauconitic B Pool Unit, Kakwa Cardium A Unit, Kakwa Main Unit (Gas), Portage Gas Unit, Turner Valley Unit No. 7 (Gas Cap) and Willesden Green Viking A Unit No.1. 

Average daily production net to Signalta from the Properties for the month of February 2022 was approximately 390 Mcf/d of natural gas and 30 barrels of natural gas liquids per day (95 boe/d).

Operating income net to Signalta from the Properties in February 2022 was approximately $63,000, or $756,000 on an annualized basis.

Signalta prepared an internal reserves evaluation of the Properties specifically for this divestiture (the “Reserve Report”). The Reserve Report is effective January 1, 2022 using Sproule Associates Limited’s April 30, 2022 forecast pricing. Signalta estimated that, as of January 1, 2022, the Properties contained remaining proved developed producing reserves of 1.4 Bcf of natural gas and 87,000 barrels of oil and natural gas liquids (322,000 boe), with an estimated net present value of $1.5 million using forecast pricing at a 10% discount.

More specific information relating to this divestiture is available at A package of more detailed confidential information will be sent to any party executing a Confidentiality Agreement.

Cash offers relating to this divestiture will be accepted until 12:00 pm on Thursday, June 30, 2022.

Preference will be given to offers to acquire all of the Properties in one transaction; however, offers may be considered for individual properties.

For further information please feel free to contact: Ben Rye, Grazina Palmer, or Tom Pavic at 403.266.6133.



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