We have come off restriction following our participation in Cardinal’s recent equity financing, proceeds from which were used to partially fund the Company’s $129 mm (net) acquisition of a suite of mature light oil assets located in the Greater Mitsue region of central Alberta. The assets were acquired from Penn West Exploration (PWT-TSX) in a joint deal between Cardinal (75%) and a private junior E&P (25%).
07 Oct 2015
Cardinal Acquiring High Quality Light Oil Assets at Mitsue and Related Financing
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Cardinal Acquiring High Quality Light Oil Assets at Mitsue and Related Financing
Cardinal Energy Ltd. (CJ:TSE) | 0 0 (-2.2%) | Mkt Cap: 471.3m
- Published:
07 Oct 2015 -
Author:
Cody R. Kwong -
Pages:
15
We have come off restriction following our participation in Cardinal’s recent equity financing, proceeds from which were used to partially fund the Company’s $129 mm (net) acquisition of a suite of mature light oil assets located in the Greater Mitsue region of central Alberta. The assets were acquired from Penn West Exploration (PWT-TSX) in a joint deal between Cardinal (75%) and a private junior E&P (25%).