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CS - PetroFrontier setting up mechanism for $28 million of funding - October 2019
PetroFrontier announced an arms-length, third-party funding agreement for up to $28 million to fund the development of its Cold Lake and Wabasca assets, two Mannville heavy oil plays in Alberta, with an $8 million initial tranche and two subsequent $10 million tranches. To receive the funds, the company said it will form a limited partnership to which it will assign all its oil and gas assets for a 99% stake, and a new Alberta......
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