CALGARY, ALBERTA–(Marketwired – Dec. 17, 2015) –
Raging River Exploration Inc. (“Raging River” or the “Company“) (TSX:RRX) is pleased to announce that the Company has closed its acquisition of Anegada Energy Corp. (‘Anegada“) as previously announced in the Raging River press release of December 10, 2015 (the “Acquisition“). The aggregate consideration for the Acquisition is comprised of the issuance of approximately 11.7 million common shares of Raging River and the assumption of approximately $30 million of net debt.
The Acquisition includes 2,750 boe/d (58% light oil) of expected average 2016 production and 50 net sections of highly prospective land targeting Viking oil in areas complementary to Raging River’s existing Viking production.
Additional corporate information can be found in our website at www.rrexploration.com or on www.sedar.com.