Baserado Resources Ltd. (“Baserado” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the joint venture, farmout, or sale of its mineral interests located in the Nipisi and Craigend areas of Alberta, and the Arcola/Browning and Steelman areas of southeastern Saskatchewan (the “Properties”).
The Properties consist of predominantly 100% working interests in Crown and Freehold mineral rights with prospective drilling locations for oil and natural gas.
At Steelman, Baserado has a 100% working interest in 1.25 sections of land with P&NG rights from the base of the Midale zone to the top of the Precambrian. Successful Frobisher development has occurred offsetting the Company’s lands by ROK Resources Inc., Tetonka Resources Inc., and Tundra Oil & Gas Limited as well as recent land sale activity by Whitecap Resources Inc.
At Arcola/Browning, Baserado has a 100% working interest in 1.5 sections of land. At Arcola, the Company has mineral rights from the surface to the top of the Precambrian in two quarter sections and at Browning, from surface to the top of the Precambrian in four quarter sections. At Browning, the Company has identified bypassed pay in the Frobisher Beds. The area has been an active area for Frobisher horizontal development since 2021. Successful Frobisher development has occurred directly offsetting the Company’s lands by Saturn Oil & Gas Inc., Triland Energy Inc., Vital Energy Inc., West Lake Energy Corp. and Whitecap. Recent successful Frobisher development by Triland directly offsets the Company’s lands at Arcola.
At Craigend, Baserado has a 100% working interest in 1 section of oil sands rights from the top of the Viking Formation to the base of the Woodbend Group. The Craigend property is prospective for heavy oil in the Clearwater Formation. There have been recent large Crown oil sands purchases offsetting the Company’s lands by Lineup Resources Corp. and Rubellite Energy Inc.
At Nipisi, Baserado has a 100% working interest in 2 sections of land with P&NG rights from the base of the Bluesky-Bullhead Formation to basement in one section and base of the Spirit River Group to basement in the other section. The Nipisi property is prospective for heavy oil in the Banff Formation. An analogue to the Banff mudmounds at Nipisi is the Seal field where Waulsortian mudmounds are being developed by Islander Oil & Gas Inc.
Further geological details relating to the Properties will be available in the virtual data room for parties that execute a confidentiality agreement.
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 process will be accepted until 12:00 pm on Thursday, February 19, 2026.
For further information please feel free to contact: Ben Rye, Sydney Birkett, or Tom Pavic at 403.266.6133.