ALBERTA CORPORATE SALE
22,720-Net Acres Of Crown Land
LECKIE AREA IN BROOKS TOWN
Milk River & Medicine Hat Formation
Further Development In CBM Formation
Includes 112-Recompletion Candidates
LMR As Of 7-Jan-2023: 1.73
100% Wi In Leckie Area Assets
Average Net Production: 736.33 BOED
Net Operating Income: C$4,900,000
Net PDP Reserves: 18.4 Bcfe
Net 1P Reserves: 25.7 Bcfe
Net 2P Reserves: 39.3 Bcfe
BIDS ARE DUE FEBRUARY 23, 2023
CO 11177PP
| Onshore |
Land Base |
| Conventional |
Play Type |
SAYER ENERGY ADVISORS - ROAD 53 RESOURCES INC
Deal Summary
Road 53 Resources Inc has retained Sayer Energy Advisors to assist it with a sale of the shares of Road 53 Resources.
Highlights:
-- Located in the Leckie area in Brooks town of Alberta;
-- Covers 22,720 net acres (35.5 sections) of crown land;
-- Holds 100% operated WI in the Leckie area asset (Hounston Countess well);
-- Also holds 35% WI in the well 100/16-09-011-19W4/02 (Operated by i3 Energy) in the Carmangay area of Alberta;
-- Produces from Milk River and Medicine Hat formations along with continued development in coalbed methane (CBM) formation;
-- Net PDP Reserves (as of 1-Jan-2023): 18.4 Bcfe (PV-10: C$16.1 million (US$12.01 million));
-- Net 1P Reserves (as of 1-Jan-2023): 25.7 Bcfe (~72% PDP, PV-10: C$27.3 million (US$20.36 million));
-- Net 2P Reserves (as of 1-Jan-2023): 39.3 Bcfe (~47% PDP, PV-10: C$31.6 million (US$23.57 million));
-- Average net Production (11 months ending Nov-2022): 736.33 BOE/d (~99% gas and ~1% oil);
-- Annualized net operating income: C$4.9 million (US$3.65 million, based on C$4.5 million (US$3.35 million) for eleven months ending Nov-30-2022);
-- Upside includes 112 additional recompletion candidates in the CBM which could add 2 MMcf/d of natural gas production;
-- LMR as of 7-Jan 2023: 1.73;
-- Road 53 Resources currently has ~C$1 million (US$746,140) in positive working capital.
To learn more contact:
Mr. Tom Pavic
Email: tpavic@sayeradvisors.com
Phone: 403-266-6133
