Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/petrus-resources-reports-asset-acquisition.shtmlPetrus Resources reports asset acquisition
Petrus Resources Ltd. has entered into a purchase and sale agreement to acquire oil and natural gas assets in the Peace River area of Alberta
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Petrus Resources Ltd. has entered into a purchase and sale agreement to acquire oil and natural gas assets in the Peace River area of Alberta (the "Acquisition") for cash consideration of $60 million before closing adjustments and related costs. The Acquisition includes production of approximately 1,600 barrels of oil equivalent per day ("boe/d"), weighted 50% to oil.
The Acquisition will have an effective date of April 1, 2012 and is expected to close on June 29, 2012, subject to customary conditions, and will be funded in part through a private placement (the "Offering") of up to $90 million of common shares ("Common Shares") of the Company at an issue price of $1.75 per Common Share.
