Acclaim Energy Trust, Calgary, and Ketch Energy Ltd., Calgary, will combine mature assets and transfer certain Ketch growth assets to a separate company in a C$390-million deal. Acclaim will assume all of Ketch's outstanding net debt of approximately C$125 million. The assets include more than 250,000 net acres of undeveloped land and production of approximately 10,700 BOE per day from Ketch's gas-weighted assets at Morinville and Golden Spike in central Alberta and Tangent in the Peace River Arch, and light oil assets in the Manyberries area of southern Alberta. Ketch's proved reserves are 112.9 billion cu. ft. of gas and 14.2 million bbl. of oil with an established reserve life of 9.1 years. Paramount Resources Ltd., Calgary, has acquired Summit Resources Ltd., adding proved reserves of 115.6 billion cu. ft. of gas and 10.5 million bbl. of liquids with a reserve life of six years. In addition, Summit holds more than 376,500 net acres of undeveloped land in Alberta, British Columbia, Saskatchewan, Montana and North Dakota. Summit's first-quarter 2002 production was 52.3 million cu. ft. of gas and 4,812 bbl. of oil per day. Blue Mountain Resources Ltd., Calgary, has acquired Bolt Energy Ltd. for approximately C$14.8 million including assumed debt of approximately C$2.7 million. Bolt's production is approximately 900 BOE. It has approximately 1 million BOE proven reserves and 1.3 million BOE of established reserves. The price per proven barrel of oil equivalent is C$12.55; C$9.80 per established barrel of oil equivalent; and C$14,100 per flowing barrel of oil equivalent per day, according to Blue Mountain. Rally Energy, Calgary, has acquired Scimitar Hydrocarbons Corp. for stock and now holds a 55% working interest in seven exploration permits covering 642,136 acres on Prince Edward Island; a 100% interest in the petroleum service agreement covering approximately 80 square kilometers of the Ras Issaran Field in Egypt; and an 80% interest in the 1,213-square-kilometer Safed Koh concession in Pakistan. Scimitar has production of 700 bbl. of oil per day. Abingdon Exploration Ltd., Calgary, plans to acquire a property in northwestern Alberta producing 330 BOE per day and containing proved producing reserves of 1.5 million BOE for C$10.3 million. Shaker Resources Inc., Calgary, and Macon Resources Ltd. plan to acquire producing assets within Shaker's core area of central Alberta for C$9.6 million from a public company. The assets include an average 68% working interest with net production of approximately 300 BOE per day; 1.03 million BOE of total proven reserves; 1.28 million of established reserves; more than 20,000 net acres of developed and undeveloped land; and a 2-D and 3-D seismic database. The price per flowing barrel of oil equivalent is C$28,000, according to Shaker. Shaker will acquire 60% for C$5.76 million; Macon will take the remainder. Northrock Resources Ltd., Calgary, has acquired Corsair Exploration Inc., Calgary, for C$3 per share in cash. Corsair had daily production in first-quarter 2002 of 856 BOE. LongBow Energy Corp., Calgary, plans to acquire Shenandoah Resources Ltd. for C$6.5 million and 4 million units. Shenandoah's assets are in the Silverdale area of Saskatchewan and the Peach River Arch and Shekilie areas of Alberta. The Silverdale produces 600 bbl. of oil per day.
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