2009-06-12-2008-07-01-2008-11-01

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
CA$3.3MM
Description

Bought co., gaining JV partner interest in Sorel-Trois Rivieres gas property in St. Lawrence Lowlands, now holds 100% in 282,317 acres.

Altai Resources Inc., Toronto, (CDNX: ATI) has acquired privately held Quebec-based Petro St-Pierre Inc. for approximately C$2.7 million in stock, C$350,000 in cash and $250,000 in assumed debt in a total deal valued at C$3.3 million. Petro St-Pierre is Altai's minority joint-venture partner in its Sorel-Trois Rivieres gas property in St. Lawrence Lowlands, Quebec. Altai now owns 100% interest in a 114,252 hectares (282,317 acres) contiguous land package. Apart from shale gas, Altai has other potential gas targets, mainly Trenton-Black River, Beekmantown and gas deposits in recent gravels. Altai also has 15% gross royalty in a permit of 13,290 hectares (33,000 acres) now held by Talisman Energy Canada in the same area.