Scandoil  

Quattro Exploration increases oil production at Oak, B.C.


Published Dec 29, 2014
[an error occurred while processing this directive]

Edit page New page Hide edit links

Quattro Exploration And Production Ltd.-3

Quattro Exploration and Production Ltd. has completed and tied-in of the first of two light oil wells at Oak, BC. The conventional oil well was a re-entry and completion that tested at 125 boe/d (net) 75% oil, 25% gas to Quattro and is anticipated under good production practices to average 75 boe/d in the first 180 days graduating to having a 7 to 10% annual decline after 180 days of production.

Further to these results Quattro deemed it appropriate to complete an addition tranche of its previously announced non-brokered private placement (the "Private Placement") in the aggregate additional amount of $671,149.90 consisting of the issuance of an additional 1,597,976 common shares on a "flow-through" basis, to Canadian institutional subscribers at a price of $0.42 per common share.

The closing brings the total amount raised under this placement to an aggregate $1,679,149.90, consisting of the issuance of 3,997,976 common shares. The additional shares are subject to a four month hold period that expires on April 24, 2015. In connection with the current portion of the offering, the Company paid a finder's fee of $33,557.50 representing 5% of the aggregate subscriptions secured by an eligible finder.

Tags: Quattro Exploration And Production Ltd.




Advertisment:

Comments on this page are closed.

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml