BrightSpot International Energy (Canada) Co. Ltd. (“BrightSpot” or the “Company”) and its working interest partner (collectively, the “Partners”) have engaged Sayer Energy Advisors to assist with the sale of their non-core oil and natural gas interests located in the Lloydminster area of Alberta (the “Property”).
The Property consists of the Partners’ 100% working interest (60% BrightSpot) in Section 21-050-01W4 and BrightSpot’s 100% working interest in the southeastern quarter of Section 12-050-02W4.
Average daily production net to the Partners from the Property for the four months ended April 30, 2026 was approximately 173 bbl/d of heavy oil from the commingled Colony, GP, Rex and Sparky formations of the Mannville Group.
Operating income net to the Partners from the Property for the four months ended April 30, 2026 was approximately $234,000 per month or $2.8 million on an annualized basis.
As of July 1, 2026, the Property had deemed liabilities of $800,016.
Chapman Hydrogen and Petroleum Engineering Ltd. (“Chapman”) prepared an independent reserves evaluation of the Property (the “Chapman Report”) as part of the Company’s year-end reporting. The Chapman Report is effective December 31, 2025 using Chapman’s January 1, 2026 forecast pricing. The Chapman Report is based on BrightSpot’s 60% working interest (not the Partners’ 100% interest) in Section 21-050-01W4 and 100% working interest in the southeastern quarter of Section 12-050-02W4.
Chapman estimates that, as at December 31, 2025, the Property has remaining proved plus probable reserves of 1.1 million barrels of heavy oil (1.1 million boe), with an estimated net present value of $17.5 million using forecast pricing at a 10% discount.
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 15, 2026.
For further information please feel free to contact: Ben Rye, Sydney Birkett, or Tom Pavic at 403.266.6133.