Sayer Energy Advisors has been engaged to assist New Star Energy Ltd. (“New Star” or the “Company”) with the sale of its prospective Duvernay oil rights located in the Highvale area of Alberta (the “Property”).
In the Highvale area, New Star holds mainly 100% working interests in over 24,000 acres of undeveloped Crown and Freehold land which is prospective for Duvernay shale within the oil-rich fairway of the Duvernay Shale Resource Play. Secondary oil potential exists in the Nisku Formation.
The lands being sold by the Company are all P&NG rights held by New Star below the base of the Banff Formation. New Star’s lands atHighvale are offset by recent land sale activity.
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 Property will be accepted until 12:00 pm on Thursday, November 2, 2017.
For further information please feel free to contact Ben Rye, Tom Pavic, 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