RockBridge Resources Inc. says that its wholly owned subsidiary, RockBridge Energy Alberta Ltd., has completed the purchase of certain oil and gas properties in southern Alberta from the receiver of Avatar Energy Ltd. of Calgary. The acquisition includes working interests from 25% to 95% in 6 wells producing a net of approximately 36 BOEPD, weighted 35% to crude oil and natural gas liquids and 65% to natural gas. The purchase also includes certain tax pools, one gas property with a shut-in well awaiting tie in and 8 abandoned wells in various stages of reclamation.

The purchase had an effective date of April 1, 2013 and the consideration included $80,000 cash paid on closing, subject to adjustments. The largest producing property, operated by a third party, is located in the Pembina area and includes the potential for up to 5 Cardium horizontal oil wells and other possible opportunities for improved production.

Tags: RockBridge Resources Inc.