Teine Energy Ltd. (“Teine” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of certain non-core oil and natural gas interests located in the Senlac area of Saskatchewan (the “Property”). Teine holds an average working interest of over 92% in the entire Property, which consists of approximately 32.5 sections of Crown land including P&NG rights in the Mannville Group. Teine is selling the Property in order to focus its operations on its core areas.
Average daily production net to Teine from the Property for the first half of 2025 was approximately 65 boe/d, consisting of 55 barrels of oil and natural gas liquids per day and 58 Mcf/d of natural gas.
Operating income net to Teine from the Property for the first half of 2025 was approximately $38,000 per month, or $460,000 on an annualized basis.
The southern portion of the Property has been developed with multi-leg horizontal wells drilled in the Birdbear Formation. The Company believes there is further development potential with infill drilling opportunities and the potential for enhanced oil recovery in the Birdbear Formation. The Company has several vertical natural gas wells which were drilled into various targets within the Mannville Group on the Property. There is potential for further Mannville development on the remaining acreage.
As of September 17, 2025, the Property had a deemed net asset value of $546,786 (deemed assets of $3.4 million and deemed liabilities of $2.9 million), with an LMR ratio of 1.19.
Teine prepared a reserves evaluation of the Property which has been verified by a third party (the “Reserve Report”). The Reserve Report is effective December 31, 2024 using an average of GLJ Ltd., McDaniel & Associates Consultants Ltd. and Sproule ERCE’s forecast pricing as at December 31, 2024.The Company estimates that, as at December 31, 2024, the Property contained remaining proved plus probable reserves of 65,000 barrels of oil and natural gas liquids and 24 MMcf of natural gas (69,000 boe), with an estimated net present value of $1.8 million using forecast pricing at a 10% discount.
Summary information relating to this divestiture is attached to this correspondence. 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 30, 2025.
For further information please feel free to contact: Ben Rye, Sydney Birkett, or Tom Pavic at 403.266.6133.