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Transerv Energy sells Canadian asset


Published Sep 15, 2014
Transerv Energy

Transerv, through its Canadian subsidiary Carnaby Energy, has sold some of its lands in British Columbia ('BC'). Transerv owns 64.7% of Carnaby Energy.

Carnaby has completed a sale with a Montney focused Canadian Company, who will buy Carnaby's Montney interests (previously called Tower, Two Rivers and Alces) and its producing assets. Carnaby will receive sale proceeds of C$15 million, half in cash and half in common shares of the entity. The Purchaser has a market capitalisation of over C$350million.

Carnaby remains an active participant in the rapidly emerging and highly prospective Montney Resource Play and has recently acquired an additional 25 sections (~10,500 net acres TSV) along trend from the lands sold.

Tags: Transerv Energy




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