Sayer Energy Advisors has been engaged to assist Toro Oil & Gas Ltd. (“Toro” or the “Company”) with the sale of its non-core oil and natural gas properties which are located in Alberta and Saskatchewan (collectively the “Properties”). Toro holds varying operated and non-operated producing properties located in the Pembina, Schuler, Alderson-Medicine Hat, Lone Pine Creek, Three Hills, Redwater, Crossfield, Tony Creek and Dawson areas of Alberta. The Valhalla property has recently been [Read more]
Receivership Sale: Northpoint Resources Ltd.
Sayer Energy Advisors has been engaged to assist Ernst & Young Inc., in its capacity as receiver (the “Receiver”) of Northpoint Resources Ltd. (“Northpoint” or the “Company”) in divesting the oil and natural gas properties held by Northpoint. The Receiver is offering for sale Northpoint’s working interests in its shut-in natural gas property in the Altares area of British Columbia and a non-producing property in the Strachan area of Alberta. The Company operates both of the properties, [Read more]
Sphere Energy Corp.: Duvernay Land Sale
Sayer Energy Advisors has been engaged to assist Sphere Energy Corp. (“Sphere” or the “Company”) and its partners with the marketing of its Duvernay rights in the Waskahigan/Kaybob area of the Kaybob Basin of northwestern Alberta (the “Property”). Sphere holds a 100% working interest in a total of 24.5 sections of mainly contiguous unencumbered land with Duvernay rights at Waskahigan. In addition, there are at least 11 offsetting sections of prospective Duvernay rights that are known to [Read more]
Royalty and WI Property Divestiture: Hanna Oil & Gas Company – Canada ULC
Sayer Energy Advisors has been engaged to assist Hanna Oil & Gas Company – Canada ULC (“Hanna” or the “Company”) in divesting all of its working interest properties and royalty interest holdings, which are located in various areas throughout Alberta and northeastern British Columbia (the “Properties”). The Properties have been grouped into nine packages for marketing purposes: Duvernay Royalty, Sunset Prairie Royalty, Glacier Royalty, Miscellaneous Royalties, Birch Hills East, Birch [Read more]
Receivership Sale: Edge Resources Inc.’s Eyehill, Saskatchewan Property
Sayer Energy Advisors has been engaged by Grant Thornton Limited, the receiver and manager of specific property of Edge Resources Inc. (“Edge” or the “Company”) to market the oil and natural gas interests of Edge in the Eyehill area of Saskatchewan (the “Property”). Edge holds a 100% working interest in a total of 17 sections of land in the Eyehill area of Saskatchewan. Recent production from the Property has averaged approximately 121 boe/d, consisting of 58 barrels of 12o API oil per day [Read more]
Receivership Sale: High North Resources Ltd.
The Court of Queen’s Bench of Alberta granted an order on January 28, 2016, placing High North Resources Ltd. (“High North” or the “Company”) in receivership (the “Receivership”) and naming PricewaterhouseCoopers Inc. (“PwC”) as the receiver (the “Receiver”). Pursuant to the terms of the Receivership it is the intent of the Receiver to sell the assets of the Company in a sales process as part of the Receivership proceedings. Sayer Energy Advisors has been engaged to assist PwC with the [Read more]
NuVista Energy Ltd.: Non-Core Property Divestiture
Sayer Energy Advisors has been engaged to assist NuVista Energy Ltd. (“NuVista” or the “Company”) with the sale of its non-core oil and natural gas assets located in the Brazeau, Pembina, Wolf Lake, Hinton(collectively the “W5 Properties”) and Waskahigan areas of Alberta (the “Properties”). The Company is selling the Properties in order to direct capital to its core properties. Recent production (February 2016) net to NuVista from the Properties has averaged 502 boe/d, consisting of 51 [Read more]
Vista Resources Harmattan Inc. Non-Operated Oil Property Divestiture: Harmattan East Viking Unit No. 1
Sayer Energy Advisors has been engaged to assist Vista Resources Harmattan Inc. (“Vista” or the “Company”) with the sale of its 24.2345% working interest in the Harmattan East Viking Unit No. 1 (the “Unit”), as well as its working interests of between 25% and 90% in three non-Unit oil wells and one non-Unit natural gas well (“Harmattan East” or the “Property”). The Unit, which was formed in 1986, is operated by Production Plus Energy Services Inc. (formerly TriAxon Oil Operations Ltd.). Many [Read more]
Shoreline Energy’s Non-Operated Property Divestiture
Sayer Energy Advisors has been engaged to assist Grant Thornton Limited (“Grant Thornton”), in its capacity as trustee in the bankruptcy of Shoreline Energy Corp. (“Shoreline” or the “Company”) with the sale of the non-operated oil and natural gas properties held by Shoreline (the “Properties”). The Properties are located in the Bonanza and Worsley areas of Alberta as well as in various other areas of Alberta, Saskatchewan and British Columbia. Current estimated production net to the Company [Read more]
GAMET Resources Ltd. Announces Strategic Alternatives Process
Effective March 18, 2016 GAMET Resources Ltd. (“GAMET” or the “Company”) filed a Notice of Intention to Make a Proposal pursuant to subsection 50.4 (1) to the Bankruptcy and Insolvency Act (the “Proposal”). Ernst & Young Inc. has consented to act as the Trustee in respect of GAMET’s Proposal. As part of the Proposal, Sayer Energy Advisors has been engaged to assist GAMET with the sale of its working interest oil and natural gas properties (the “Properties”). The Company’s main [Read more]