The Canadian Press - ONLINE EDITION

Pine Cliff Energy to pay $100M for gas assets in Alberta, southern Saskatchewan

  • Print

Pine Cliff Energy Ltd. (TSXV:PNE) says it plans to acquire shallow natural gas assets in Alberta and southern Saskatchewan for $100 million in cash.

Pine Cliff says the deal for the assets, which are being acquired from an unnamed "senior oil and gas producer," is expected to closed by Nov. 1.

The majority of the Alberta assets are east of Medicine Hat with some minor assets in central Alberta near Wetaskiwin. The Saskatchewan assets are near the town of Maple Creek.

In its announcement, issued after markets closed, Pine Cliff said the deal is expected to be financed by a combination of working capital and debt, details of which would be announced later.

On the Toronto Venture Exchange, Pine Cliff shares closed down eight cents, or 5.48 per cent at $1.38 Thursday on volume of almost 2.3 million shares.

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Judy W-L endorsed by firefighters union

View more like this

Photo Store Gallery

  • Down the Hatch- A pelican swallows a fresh fish that it caught on the Red River near Lockport, Manitoba. Wednesday morning- May 01, 2013   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • Two baby tigers were unveiled at the Assiniboine Park Zoo this morning, October 3rd, 2011. (TREVOR HAGAN/WINNIPEG FREE PRESS)

View More Gallery Photos

Poll

Do you support Canada's involvement in the fight against Islamic State?

View Results

View Related Story

Ads by Google