Petrel and its Lochend Cardium Joint Venture partner, Bernum Petroleum Ltd, have engaged Macquarie Capital Markets Canada Ltd. to seek proposals for the sale of their Lochend Cardium assets.

Bernum and Petrel will offer approximately 6,541 and 3,019 net acres respectively, including 2 producing Cardium oil wells and 2 licenced well locations and associated infrastructure.

During the past year Petrel has worked with its partner to identify well and facility locations with a number of well locations recently approved by the regulatory authorities giving the JV or purchaser the opportunity to pursue development drilling later in the year.

Tags: Petrel Energy Ltd