According to Woods Mackenzie's corporate upstream research team assessing the challenges facing the Majors, Independents and National Oil Companies (NOCs) in 2015 -- five themes have been identified which will shape the oil & gas corporate landscape.
Junior companies with solid balance sheets and strong financial backers will take the opportunity over the next 12 to 18 months to acquire assets which will their support strategic direction. “We are observing a buyers’ market in Western Canada, and those with experienced management teams will seek out those who have mismanaged and hold undervalued assets. This downturn will ultimately bankrupt a lot of oil & gas companies and negatively impact investor wealth. However, for other companies and savvy investors these are wealth building opportunities. Finding companies that can exploit these current market conditions may be key to your portfolio.”, Darren Stewart, CEO 80-20 Connect.
CALGARY, ALBERTA. Jan 20, 2016. Quattro Exploration And Production Ltd. (TSXV:QXP) (“Quattro” or the “Company”) is pleased to announce the purchase of a 100% interest in oil and gas production, facilities and lands in west central Saskatchewan from an Alberta-based oil and gas exploration and production company (the “Acquisition”). The purchase price for the acquisition was $4,150,000, to be paid through the issuance of 35,000 Non-Voting, Class C, Series 3 Preferred Shares at a deemed price of $100 per share (“Preferred Shares”) and $650,000 in restricted cash, held on deposit, anticipated to be remitted to the vendor before January 31, 2016. The properties are located in the region of Superb, Saskatchewan, where production averaged 160 lbs per day in 2015.
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