Novus Energy Acquires 4,240 Net Acres In Viking Oil Resource Play, Saskatchewan - Deal Analysis from GlobalData

Novus Energy Acquires 4,240 Net Acres In Viking Oil Resource Play, Saskatchewan - Deal Analysis from GlobalData

Summary

Novus Energy, Inc., (Novus Energy) acquired 4,240 net acres (approximately 6.5 net sections) of prospective land in the Viking Oil Resource play at Dodsland, Saskatchewan, from two private companies, for a purchase consideration of CAD0.67 million ($0.64 million). The purchase consideration was paid through the issuance of 794,119 common shares of Novus Energy at a deemed price of CAD0.85 per common share ($0.81 per common share).

The acquisition will enable Novus Energy to expand its opportunities within its core area located in the Viking oil resource play of Dodsland, Saskatchewan.

The transaction implies deal value of $150.94 per acre of land.

Scope

• Rationale behind Novus Energy acquiring assets in Viking Oil Resource Play, Saskatchewan
• Strategic Benefits for the companies involved
• Geography covered -Canada

Reasons to buy

• Develop a sound undestanding of the major M&A's, Partnerships, And Joint Ventures taking place in North American Oil & Gas industry
• Identify the most lucrative segments to leverage on the growth oppurtunities available in the Canadian oil & gas market
• Get a detailed analysis of a deal to enable you to take better decisions