Bought co., gaining interests in 30 wells in Williston Basin, 20,000 net acres in Torquay oil play.
Fairborne Energy Ltd., Calgary, (Toronto: FEL) has acquired Grand Banks Energy Corp. (Toronto Venture: GBE) for approximately C$98 million. Grand Banks holds working interests in 30 light oil wells in two operated areas in the Williston Basin region of Saskatchewan and Manitoba. The company also controls approximately 20,000 net acres of land in its Torquay light oil play in Manitoba and eastern Saskatchewan. It also holds a 20.17% interest in the Leduc sour gas discovery well near Hinton, Alberta. It was formerly known as Pacific Amber Resources Ltd.