Sayer Energy Advisors has been engaged to assist Pan Pacific Oils Ltd. and its internal partners (“Pan Pacific” or “the Company”) with the divestiture of its 151.5 sections of undeveloped P&NG leases located in various areas of Alberta, and its 93 sections of oilsands leases located in the Cold Lake, Driftwood and Athabasca areas of Alberta (the “Properties”). The Company’s preference is to sell the Properties for cash or cash plus an over-riding royalty.
West of the Fourth Meridian, Pan Pacific holds a 100% working interest in 14.5 sections of P&NG leases in the Enchant, Claresholm, Atlee Buffalo and Mikwan areas.
West of the Fifth Meridian, the Company holds a 100% working interest in 98.5 sections of P&NG leases in the Turner Valley, Chip Lake, Gunn, Blueridge, Goose River, Shadow and Nipisi areas.
West of the Sixth Meridian, Pan Pacific holds a 100% working interest in 36.5 sections of P&NG rights in the Woking/Rycroft area and two sections at Worsley.
Pan Pacific holds a 100% working interest in 93 sections of oilsands leases in the Cold Lake, Driftwood and Athabasca areas. The leases are characterized by long terms, ranging from five to ten years of primary term remaining on each lease.
Summary information relating to this divestiture is attached to this correspondence. More specific information is available at www.sayeradvisors.com and on Pan Pacific’s website www.panpacificoils.com. A package of more detailed confidential information will be sent to any party executing a Confidentiality Agreement (copy attached).
Sayer is accepting cash offers to acquire the Properties until 12:00 PM on Thursday, October 20, 2016. The Company’s preference is to sell the Properties for cash or cash plus an over-riding royalty.
For further information please feel free to contact: Jill Switzer, Ryan Ferguson Young, Tom Pavic, Ben Rye or myself at 403.266.6133.
Alan W. Tambosso, P.Eng. P.Geol.
SAYER ENERGY ADVISORS
1620, 540 – 5th Avenue SW
Calgary, Alberta T2P 0M2
P: 403.266.6133 C: 403.650.8061 F: 403.266.4467