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Pinecrest Energy Inc To Buy Spartan Oil Corp-Reuters


Wednesday, 21 Nov 2012 01:37pm EST 

Reuters reported that Pinecrest Energy Inc will buy Spartan Oil Corp for about CAD427 million ($428 million) to raise its output from reserves in Alberta and Saskatchewan. Pinecrest will offer 2.738 shares for each Spartan share, valuing each Spartan share at CAD5.12, the price it closed at on November 20, 2012 on the Toronto Stock Exchange. 

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