Axiom Oil and Gas Inc. (“Axiom” or the “Company”) has engaged Sayer Energy Advisors to assist it with the sale of certain of its oil and natural gas properties located in the Black Creek, Harmattan and Manola areas of Alberta (the “Properties”).
Average daily sales production net to Axiom from the Properties for the year ended December 31, 2025 was approximately 786 boe/d, consisting of 545 barrels of oil and natural gas liquids per day and 1.5 MMcf/d of natural gas.
Operating income net to Axiom from the Properties for the year ended December 31, 2025 was approximately $6.8 million.
At Black Creek, Axiom holds an operated, 100% working interest. Production at Black Creek is primarily from the Cummings, Rex and Lloydminster of the Upper Mannville Group. Axiom drilled two multi-lateral wells, Axiom Provost 05/01-10-041-03W4/0 and Axiom Hz 06 Provost 06/04-11-041-03W4/0 on its lands at Black Creek in 2025 with initial production rates of approximately 84 bbl/d and 94 bbl/d of oil.
At Manola, Axiom holds various, primarily operated, working interests with an average 94% working interest. Production at Manola is primarily from the Basal Quartz Formation of the Lower Mannville Group. At Manola, Axiom has 100% working interests in a natural gas processing plant located at 11-18-059-02W5/00.
At Harmattan, Axiom holds various working interests including a 100% working interest in the Harmattan East Viking Unit No. 1. Oil and natural gas production from the Viking Formation at Harmattan is produced to a multi-well battery located at 05-24-032-03W5. The property was developed originally with vertical wells and has only four horizontal wells drilled to date located at 06-15-032-03W5, 13-22-032-03W5, 04-23-032-03W5, and 04-28-032-03W5. The property also has water injection wells in place.
As of January 1, 2026, the Properties had a deemed liability value of $28.9 million.
McDaniel & Associates Consultants Ltd. (“McDaniel”) prepared an independent reserves evaluation of the Properties as part of the Company’s year-end reporting (the “McDaniel Report”). The McDaniel Report is effective December 31, 2024 using an average of GLJ Ltd., McDaniel, and Sproule ERCE’s forecast pricing as at January 1, 2025. McDaniel estimated that, as at December 31, 2024, the Properties contained remaining proved plus probable reserves of 6.1 million barrels of oil and natural gas liquids and 8.6 Bcf of natural gas (7.6 million boe), with an estimated net present value of $122.1 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, April 2, 2026.
For further information please feel free to contact: Ben Rye, Sydney Birkett, or Tom Pavic at 403.266.6133.