Zodiac Exploration Corp.

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Buyers
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Description

Acquired all the issued and outstanding common shares of Muskwa Resources Ltd.

Alberta, Canada-based Zodiac Exploration Inc. (ZEX - TSX Venture) is moving forward with plans to buy oil and gas company Muskwa Resources Inc.

The deal will significantly expand Zodiac’s Canadian holdings. Muskwa owns about 54,240 acres of land in central Alberta, primarily in the Duvernay and Nordegg formations – 49,760 contiguous 100% working interest acres in the Duvernay light oil resource window.

Muskwa plans to add another 24,000 net acres pending asset acquisitions in Montana from Jackfish Exploration Inc. and Tanglewood Energy Inc.

As part of the Muskwa purchase, Zodiac agreed to acquire all of the company’s issued and outstanding common shares. The purchase is expected to close on Nov. 30, 2013.

Muskwa’s land position has significantly stacked recourse potential in the Duvernay, Nordegg, Montney and Beaverhill Lake formations.