November 27, 2017 / 7:25 AM / 20 days ago

BRIEF-Questerre makes $7.25 mln Antler acquisition

Nov 27 (Reuters) - Questerre Energy Corp:

* CONSOLIDATES ANTLER ASSETS THROUGH ACQUISITION

* ‍HAS CLOSED AN ACQUISITION OF PRODUCING BAKKEN/TORQUAY OIL ASSETS IN ANTLER AREA OF SOUTHEAST SASKATCHEWAN​

* ‍THIS ACCRETIVE ACQUISITION CONSOLIDATES OUR OPERATED WORKING INTEREST AT ANTLER. WE NOW OWN 100% OF THESE ASSETS AND ADD LOW-DECLINE, HIGH NETBACK LIGHT OIL PRODUCTION TO OUR BASE OF CONVENTIONAL ASSETS​

* ‍POST THIS ACQUISITION, CURRENT PRODUCTION FROM AREA, INCLUDING ADJACENT PRODUCTION FROM PIERSON, MANITOBA, IS APPROXIMATELY 450 BBL/D​

* ‍ACQUIRED APPROXIMATELY 180 BBLS/D OF LIGHT OIL PRODUCTION IN ANTLER AREA FOR GROSS CONSIDERATION OF $7.25 MILLION, SUBJECT TO CUSTOMARY INDUSTRY ADJUSTMENTS​

* ‍ACQUIRED ASSETS INCLUDE 3D SEISMIC DATA OVER PRODUCING ACREAGE WITH A VALUE OF APPROXIMATELY $0.77 MILLION​

* ‍ALSO REPORTED THAT IT IS SUBMITTING ITS COMMENTS ON DRAFT HYDROCARBON REGULATIONS TO MINISTRY OF ENERGY AND NATURAL RESOURCES IN QUEBEC THIS WEEK​

* ‍ANTICIPATES THAT SUBJECT TO REVIEW OF COMMENTS RECEIVED FROM STAKEHOLDERS, REGULATIONS SHOULD BE FINALIZED IN EARLY 2018​ Source text for Eikon: Further company coverage: (Reporting By Terje Solsvik)

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