Offering Details

Predator Oil Ltd.
Property Divestiture
Bid Deadline: 5/10/2018 12:00 PM

Download Full PDF - Printable

OVERVIEW

THE MIKWAN-HUXLEY AND RADWAY PROPERTIES IN THIS OFFERING HAVE BEEN SOLD. 

 Sayer Energy Advisors has been engaged to assist Predator Oil Ltd. (“Predator” or the “Company”) with the sale of its non-core oil and natural gas working interest properties located in various areas of Alberta and its royalty interests located in Saskatchewan and Alberta (the “Properties”).

Total production net to Predator from the Properties has averaged approximately 51 boe/d, consisting of 38 barrels of oil and natural gas liquids per day and 78 Mcf/d of natural gas.

Net operating income from the Properties is forecasted to average approximately $200,000 in 2018, with approximately $38,000 of the net operating income from Predator’s royalty interests.

Overview Map Showing Location of the Divestiture Properties

Production Overview

Total production net to Predator from the Properties has averaged approximately 51 boe/d, consisting of 38 barrels of oil and natural gas liquids per day and 78 Mcf/d of natural gas.

Reserves Overview

GLJ Petroleum Consultants Ltd. (“GLJ”) prepared an independent reserves evaluation of Predator’s properties as part of the Company’s year-end reporting (the “GLJ Report”).  The GLJ Report is effective February 28, 2017 using GLJ’s January 1, 2017 forecast pricing.

GLJ estimates that as of February 28, 2017, the Properties contained remaining proved plus probable reserves of 958,000 barrels of oil and natural gas liquids and 3.6 Bcf of natural gas (1.6 million boe), with an estimated net present value of $13.3 million using forecast pricing at a 10% discount.

The reserves volumes and values for the Chinchaga Property have been modified by Predator to reflect land expiries which occurred subsequent to the effective date of the GLJ Report.