Twin Butte Energy Ltd.

Transaction Type
Sellers
Marketers
Post Date
Close Date
Estimated Price
MM
Description

Twin Butte Energy Ltd. has retained Sayer Energy Advisors to sell its interest in six oil and natural gas properties in Alberta, British Columbia and Saskatchewan.

Net production from the properties has averaged about 251 barrels of oil per day and 435 thousand cubic feet (Mcf) per day of natural gas, for a total of 305 barrels of oil equivalent (BOE) per day. Sayer Energy advisors will accept cash offers to buy the properties until 12pm on Nov. 29.

McDaniel & Associates Consultants Ltd. have evaluated the properties and marked proved plus probable reserves on Dec. 31, 2011 at 1.4 million BOE (1.2 million barrels of oil and natural gas liquids and 1.2 billion cubic feet (Bcf) of natural gas), with an estimated net present value of about $25.7 million using forecast pricing at a 20% discount rate.

The effective date for the transaction is Dec. 1. For additional information, contact Alan Tambosso, president of Sayer Energy Advisors, at 403-266-6133.