Aldon Oils Ltd. (“Aldon” or the “Company”) has engaged Sayer Energy Advisors to assist it with the sale of certain non-core oil and associated natural gas interests located in the Bemersyde, Huntoon, Midale, Midale North and Weyburn areas of southeastern Saskatchewan (the “Properties”).
The Properties consist of primarily low-decline, light oil production.
Average daily production net to Aldon from the Properties for the month of January 2022 was approximately 189 bbl/d of oil as outlined below.
Operating income net to Aldon from the Properties in January 2022 was approximately $212,000, or $2.5 million on an annualized basis.
As of April 28, 2022, Aldon’s net deemed asset value for the Properties was ($287,279) (deemed assets of $4.1 million and deemed liabilities of $4.4 million), with an LMR ratio of 0.93.
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 relating to this divestiture will be accepted until 12:00 pm on Thursday, June 2, 2022.
For further information please feel free to contact: Ben Rye, Grazina Palmer, or Tom Pavic at 403.266.6133.