Sonde Resources Corp. has retained FirstEnergy Capital Corp. to initiate a process to explore and evaluate potential strategic alternatives with regard to Sonde's western Canadian production and exploratory acreage, with a view to enhancing shareholder value. In particular, the Company seeks alternatives that will reduce emphasis on legacy producing assets, and facilitate a focus on creating value from its large portfolio of exploratory acreage, which contains significant holdings in the Duvernay, Montney, Detrital-Banff and Wabamun plays of west central Alberta.

Sonde has approximately 354,000 net acres of land (238,000 undeveloped). Of Sonde's undeveloped acreage inventory, there are approximately 94,500 net acres in the Duvernay, 44,000 net acres in the Montney, 43,000 net acres in the Detrital-Banff and 51,000 net acres in the emerging Wabamun play.

Sonde's western Canadian assets produced 2,155 barrels of oil equivalent per day in the third quarter of 2012 with 83 percent of its production in the southern Alberta cash-generating unit focused in the Greater Drumheller area. Sonde's production was 68 percent natural gas and 32 percent liquids. At September 30, 2012, Sonde had $24.6 million in cash and an undrawn bank facility of $30 million.

Tags: Sonde Resources