Raymark Lands Ltd. (“Raymark” or the “Company”) has engaged Sayer Energy Advisors to assist it with the sale of certain oil, condensate and natural gas royalty interests located in the Kerrobert, Edam and Golden Lake areas of Saskatchewan (the “Properties”).
The Properties consist of Gross Overriding Royalty (“GORR”) interests with no deductions.
Raymark holds a 10% GORR interest at Kerrobert, a 10%-15%, 1/150 GORR interest at Edam, and a 10%-15% GORR interest at Golden Lake.
Average daily royalty production net to Raymark from the Properties for the four months ended April 30, 2023 was approximately 13 boe/d, consisting of 12 barrels of oil per day natural gas liquids and four Mcf/d of natural gas.
Royalty income net to Raymark from the Properties for the four months ended April 30, 2023 was approximately $91,300, or $273,900 on an annualized basis.
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 process will be accepted until 12:00 pm on Thursday, October 12, 2023. The Company will require separate bids for each of the Properties.
For further information please feel free to contact: Ben Rye, Sydney Birkett, or Tom Pavic at 403.266.6133.