Sayer Energy Advisors has been engaged by Repsol Canada Energy Partnership (“Repsol” or the “Company”) to assist it with the marketing of nine of its coal licences in the Sukunka (Rocky Creek) area of British Columbia (the “Licences”).
The Licences were originally acquired by a predecessor to Repsol, an affiliated entity of BP Exploration Canada Ltd. (“BP”) when it was actively pursuing sour natural gas prospects in the area.
BP and its successor, Talisman Energy Inc. (“Talisman”) held onto both the coal rights and the P&NG rights in the area as the companies felt that it was beneficial to retain both sets of rights. Subsequent activity resulted in the divestiture of a portion of Talisman’s coal rights and all of the company’s P&NG rights in the area. At this time, Repsol is soliciting expressions of interest for the remaining coal rights it holds.
Repsol holds a 100% working interest in the British Columbia Crown Coal Licences, which are continued under a Section 13 continuation. The Company holds the coal rights from surface to basement. The Licences are burdened by British Columbia Crown royalty and a GOR.
The Licences are prospective for coal deposits within the Gething and Gates formations. Coal reserves lie in synclines, between anticlines, in areas that are much less deformed than the adjacent anticlines. Low angle thrust faults commonly dislocate the synclines.
Summary information relating to this divestiture is attached to this correspondence. More specific information is available at www.sayeradvisors.com. A package of more detailed confidential information will be sent to any party executing a Confidentiality Agreement (copy attached).
Cash offers to acquire the Licences will be accepted until 12:00 pm on Thursday, December 14, 2017.
For further information please feel free to contact Tom Pavic, Ben Rye, Grazina Palmer, Ryan Ferguson Young 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