Following its recently announced
$55 million acquisition of Questfire
Energy, Calgary’s Manitok Energy
completed its purchase of Corinthian
Oil on September 20 in a $3.1 million
deal consisting of equity in 44 million
Manitok shares at $0.07/share.
Manitok adds 1.1 MMcfe/d
(25% liquids) and 2P reserves
of 1.8 MMboe to its portfolio
through the deal. The company also
acquires Corinthian’s related oil battery
and gas gathering assets. The total
acreage acquired is 120,000, including
100,000 undeveloped acres in the
Heathdale area of southern Alberta.
Through the Questfire deal, which
is expected......
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