Property Divestiture
BID DEADLINE: OCTOBER 18, 2023 AT 4:00 PM MST
Kennibar Resources Ltd. (“Kennibar”, or the “Company”) has retained Trimble Energy Group (“TEG”) as its exclusive financial advisor and agent to assist with the marketing of its fee title mineral interests in Manitoba (the “Properties”).
DIVESTITURE OVERVIEW
- Aggregate total of 15,768 net acres or 24.6375 sections of fee title mineral interests in Manitoba in an underdeveloped region of the province.
- 9,840 acres (15.375 sections) of 100% Mineral Titles.
- 11,680 gross acres (5,768 net) or 18.25 gross sections with mainly a 50% interest in Mineral Titles.
- Lessor royalty in NW/4-03-05-22W1 with royalty income of approximately $2,200/year adjacent to the Lodgepole Virden B Pool.
- Seaton-Jordan report for 560 acres provides a value of $80/acre or $44,800 for only 3.5% of the total mineral interests.
- Mineral interests are north of the prolific Waskada Unit No.6 (Lower Amaranth A Pool) which has had cumulative production of 48.9 million barrels of oil and 3.34 Bcf of natural gas and to the northeast of the North Pierson Unit No. 2 (Lower Amaranth B Pool) which has had cumulative production of 13.3 million barrels of oil and 0.84 Bcf of natural gas.
For more information visit Trimble Energy Group’s website at www.trimbleenergygroup.com or contact Ryan Ferguson Young, Executive Vice President of TEG at Ryan@trimbleenergygroup.com or (403) 615-2975.
