CALGARY, Alberta, Aug. 28, 2018 (GLOBE NEWSWIRE) — Toscana Energy Income Corporation (“Toscana” or the “Company”) (TSX: TEI) is pleased to announce the successful closing of its previously announced acquisition of Cortona Energy Ltd. (“Cortona”) for aggregate consideration of approximately $12,000,000.00 (the “Transaction”) as previously described in the July 23, 2018 press release of the Company. The closing of this strategic Transaction adds approximately 250 BOEs/d of light oil production and consolidates Toscana’s Carmangay Baron’s oil pool. Synergies in operations will allow for efficiencies in reservoir management and secondary enhanced recovery strategies.
About Toscana Energy Income Corporation
Toscana Energy Income Corporation is a conventional oil and gas producer with the mandate to acquire high quality, long life oil and gas assets including royalties, non-operated working interests and unitized production for yield and capital appreciation.