RECEIVERSHIP SALE – Grant Thornton Limited (the “Receiver”), in its capacity as the receiver of certain assets of Tuscany Energy Ltd. (“Tuscany”), is offering for sale Tuscany’s oil and gas interests, primarily located in the Macklin North and Evesham areas of Saskatchewan. Highlights of the divestiture include:
- August production of 273 bopd (net) heavy oil production with minimal gas production.
- Potential to increase production to 425 Bopd (net) with a number of workovers and mechanical additions.
- Saskatchewan LLR rating of 3.53 as at August 30, 2016, with a deemed asset value of approximately $12.6 million.
- Tuscany is the operator of all of the listed properties, with no non-operating interests held in Saskatchewan.
- Key properties in Macklin North and Evesham have up to 190 potential horizontal oil locations.
- Tuscany also has non-producing wells in the Winter, Rutland and Chambery oil fields.
- 100 % working interest in several undeveloped heavy oil plays, located in the Macklin, Northminster, Evesham & Eyehill locations.
For further information, please contact Nathan Bell at (403) 260-2529 or Nathan.Bell@ca.gt.com.
Offers must be submitted to the Receiver pursuant to the Sales Procedures and Terms and Conditions, by 12:00 pm MST on October 14, 2016. All offers are subject to the approval of the Court of Queen’s Bench for Saskatchewan.
