Sept 4 Sprott Resource Corp will sell
its oil unit Waseca Energy Inc to Twin Butte Energy Ltd
for C$134.5 million ($136.24 million).
Sprott Resource, which invests and operates through
subsidiaries in the natural resources sector, said last year it
was considering a sale of the unit as part of a strategic
The deal value includes the assumption of about $7.5 million
of working capital, Calgary-based Twin Butte said in a statement
late on Monday.
Waseca, which explores and develops heavy oil resources in
the Lloydminster area in central Alberta and Saskatchewan, is
81.1 percent owned by Sprott Resource.
RBC Capital Markets advised Waseca while Peters & Co Ltd
advised Twin Butte.