Sayer Energy Advisors has been engaged to assist InPlay Oil Corp. (“InPlay” or the “Company”) with the sale of its prospective Duvernay oil rights located in the Sylvan Lake and Pembina areas of Alberta (the “Properties”).
In the Sylvan Lake area, InPlay holds an average 50% working interest in 22.25 sections of land which are prospective for oil and natural gas production from the Duvernay Formation.
In the Pembina area, InPlay holds an average 61% working interest in 8.75 sections of land which are prospective for oil and natural gas production from the Duvernay Formation.
InPlay’s lands in the Sylvan Lake area are situated within the oil and condensate window of the East Shale Basin. The Company’s lands in the Pembina area are situated in the condensate and oil window of the West Shale Basin.
The Company’s land at Sylvan Lake is offset to the east by Vesta Energy Ltd.’s and Raging River Exploration Inc’s. recent Duvernay drilling activity in the Gilby, Morningside and Joffre areas. To the west of InPlay’s land, Paramount Resources Ltd., Shell Canada Limited, Yangarra Resources Corp. and Repsol Oil & Gas Canada Inc. have recently drilled horizontal Duvernay wells in the Willesden Green/Ferrier area.
InPlay’s lands in the Pembina area are offset by Resourceful Petroleum Canada Limited’s Duvernay natural gas pool at Pembina and by recent drilling by Teine Energy Ltd., Canadian Coastal Resources Ltd., Raging River Exploration Inc., Cenovus Energy Inc., Obsidian Energy Ltd. and Enerplus Corporation.
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).
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Cash offers to acquire the Properties will be accepted until 12:00 pm on Thursday, July 19, 2018.
For further information please feel free to contact: Tom Pavic, Ben Rye, Mark Zalucky, Grazina Palmer, Ryan Ferguson Young or myself at 403.266.6133.
Alan Tambosso
Alan W. Tambosso, P.Eng. P.Geol.
President
SAYER ENERGY ADVISORS
1620, 540 – 5th Avenue SW
Calgary, Alberta T2P 0M2
P: 403.266.6133 C: 403.650.8061 F: 403.266.4467
www.sayeradvisors.com