Westlinks buying Bre Alta Energy heavy oil assets in Saskatchewan

Westlinks Resources Ltd. is buying all of Bre Alta Energy's assets in the Superb area of Saskatchewan for $2.8 million (Can.), consisting of $1.3 million of common shares and $1.5 million cash. Closing of the acquisition, subject to regulatory approval, is expected on or before June 29.


By the OGJ Online Staff

HOUSTON, June 13 -- Westlinks Resources Ltd., Calgary, is buying all of Bre Alta Energy's assets in the Superb area of Saskatchewan for $2.8 million (Can.), consisting of $1.3 million of common shares and $1.5 million cash.

Closing of the acquisition, subject to regulatory approval, is expected on or before June 29.

The acquisition includes 91% working interest in four Waseca heavy oil wells with a combined production rate of 180 b/d. Reserves are 671.3 million bbl and proven plus probable reserves are 885 million bbl net to Westlinks.

Westlinks plans to construct a central battery and water injection facility to reduce operating costs and optimize well production. It has identified seven infill drilling locations that could increase production to more than 700 b/d.

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