Sayer Energy Advisors has been engaged to assist Blackspur Oil Corp. (“Blackspur” or the “Company”) with the sale of its prospective Duvernay oil rights located in the Pembina area of Alberta (the “Property”).
Blackspur holds working interests in 95 sections (82 net) of prospective Duvernay oil rights located in the Pembina area of Alberta. The Company holds a 100% working interest in most of the lands on the Property, holding working interests of 50% and 80% in some of the lands.
The Property contains 20-30 metres of over-pressured Duvernay shale reservoir within the oil window, at depths between 2,000-2,500 metres TVD.
The Company sees a clear line of sight for the acquirer of the Property to enhance its land position by way of selective strategic acreage swaps, leasing of open Freehold land and the acquisition of a small number of sections of open Crown land. With these enhancements, Blackspur sees potential for a substantial development of up to approximately 380 two mile horizontal Duvernay locations.
The Property is offset by recent Duvernay drilling activity by Crescent Point Energy Corp. to the east of Blackspur’s land, Teine Energy Ltd. to the west of Blackspur’s land and Baytex Energy Ltd. to the south.
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).
Proposals relating to this divestiture will be accepted until 12:00 pm on Thursday, February 14, 2019.
For further information please feel free to contact: Ben Rye, Mark Zalucky, Grazina Palmer, Ryan Ferguson Young, Tom Pavic 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