Key Developments: Forent Energy Ltd (FEN.V)

FEN.V on TSX Venture Exchange

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27 May 2015
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Latest Key Developments (Source: Significant Developments)

Forent Energy Ltd closes final tranche of equity private placement
Tuesday, 11 Feb 2014 09:00am EST 

Forent Energy Ltd:Says it has closed on the final tranche of its previously announced non-brokered private placement.Says proceeds of $106,000 from the issuance of 1,325,000 common shares at $0.08 per share were received.Says the proceeds from the private placements will be used to fund crude oil development expenditures on the recently acquired Twining property, battery expansion plans on the Provost facility and administrative expenses of the Corporation.  Full Article

Forent Energy Ltd completes $1.1 mln of non-brokered private placements
Friday, 31 Jan 2014 09:00am EST 

Forent Energy Ltd:Says it has raised $1.1 mln through two previously announced non-brokered private placements of flow-through common shares and common shares by way of closes on Dec. 31, 2013 and Jan. 29.Says it closed on gross proceeds of $485,000, consisting of $124,000 from the issuance of Flow-Through Shares at $0.10 per share and $361,000 from the issuance of common shares at $0.08 per share.Says the proceeds will be used to fund crude oil development expenditures, which will qualify as renounceable exploration expenses, on the central Alberta properties that were acquired in Oct. 2013 and general and administrative expenses of the Corporation.  Full Article

Forent Energy Ltd announces $1.0 million flow-through financing; Chairman W. Brett Wilson Commits $250,000 to Financing
Friday, 13 Dec 2013 08:30am EST 

Forent Energy Ltd:Says it plans to issue and sell on a non‐brokered private placement basis up to 10,000,000 common shares of the company to be issued on a flow‐through basis at a price of $0.10 per common share for total consideration of $1,000,000.Says it will renounce to subscribers of the flow‐through shares, effective on or before Dec. 31 Canadian Exploration Expense in an amount equal to the aggregate gross proceeds.Says the funds will be used for crude oil development expenditures, which will qualify as renounceable exploration expenses, on the central Alberta properties that were acquired in Oct. 2013.Says W. Brett Wilson, the company's Chairman, owns directly, indirectly and through affiliates, about 22.3% of the common shares of Forent and has indicated he will subscribe for at least his pro rata share of the flow‐through Shares being offered.Says closing of the private placement is expected to occur on or about Dec. 23.  Full Article

Forent Energy Ltd Announces Purchase Of Crude Oil Properties In Alberta
Monday, 7 Oct 2013 06:50am EDT 

Forent Energy Ltd announced that pursuant to a purchase and sale agreement (the Agreement) with an independent Canadian oil and gas company (the Vendor), Forent has closed an acquisition of low decline, high netback, medium gravity oil (22 to 29 degree API) producing properties (the Properties) in central Alberta (the Acquisition) for a total purchase price of $7.5 million. The Properties currently produce approximately 150 barrels of oil equivalent per day (boe/d) (80% oil and liquids). The effective date of the Acquisition is August 1, 2013.  Full Article

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