Sayer Energy Advisors has been engaged to assist Owl River Resources Ltd. with the sale of the shares of the company.
Owl River is a private corporation with one shareholder, no severance obligations, minimal overhead (office lease of approximately $1,600/month until October 2018) and tax pools totaling approximately $302,617 (as of June 30, 2016). The Company will have no debt or working capital at closing.
The shareholder would prefer an all cash transaction but would consider alternate proposals.
Owl River’s properties consist of five operated wells (three producing and two non-producing) and two non-operated, non-producing wells in the Harmattan, Pembina, Leduc and RedEarth areas of Alberta (the “Properties”).
Recent production net to Owl River from the Properties has averaged approximately 34 boe/d, consisting of 21 barrels of oil and natural gas liquids per day and 78 Mcf/d of natural gas sales.
As of January 7, 2017, Owl River’s operated properties collectively have a deemed net asset value of $321,137 (deemed assets of $720,366 and deemed liabilities of $399,229), with an LMR ratio of 1.80.
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).
The deadline for submitting offers to acquire the shares of Owl River is noon on Thursday, March 2, 2017.
For further information please feel free to contact myself, Ryan Ferguson Young, Tom Pavic, Ben Rye or Jill Switzer 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