Offering Details
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Current Offerings / BrightSpot International Energy (Canada) Co. Ltd.
BrightSpot International Energy (Canada) Co. Ltd.
Property DivestitureBid Deadline: October 15, 2026
12:00 PM
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OVERVIEW
BrightSpot International Energy (Canada) Co. Ltd. (“BrightSpot” or the “Company”) and its working interest partner (collectively, the “Partners”) have engaged Sayer Energy Advisors to assist with the sale of their non-core oil and natural gas interests located in the Lloydminster area of Alberta (the “Property”).
The Property consists of the Partners’ 100% working interest (60% BrightSpot) in Section 21-050-01W4 and BrightSpot’s 100% working interest in the southeastern quarter of Section 12-050-02W4.
Average daily production net to the Partners from the Property for the four months ended April 30, 2026 was approximately 173 bbl/d of heavy oil from the commingled Colony, GP, Rex and Sparky formations of the Mannville Group.
Operating income net to the Partners from the Property for the four months ended April 30, 2026 was approximately $234,000 per month or $2.8 million on an annualized basis.
The Property consists of the Partners’ 100% working interest (60% BrightSpot) in Section 21-050-01W4 and BrightSpot’s 100% working interest in the southeastern quarter of Section 12-050-02W4.
Average daily production net to the Partners from the Property for the four months ended April 30, 2026 was approximately 173 bbl/d of heavy oil from the commingled Colony, GP, Rex and Sparky formations of the Mannville Group.
Operating income net to the Partners from the Property for the four months ended April 30, 2026 was approximately $234,000 per month or $2.8 million on an annualized basis.
Overview Map Showing the Location of the Divestiture Property
LLOYDMINSTER
Township 50, Range 1-2 W4
At Lloydminster, the Partners hold a 100% working interest (60% BrightSpot) in Section 21-050-01W4 on which it has drilled 6 wells. Section 21 is subject to 16% freehold royalty and 8% GORR net freehold royalty. Production from the section consists of heavy oil from the commingled Sparky and GP formations of the Mannville Group. BrightSpot holds a 100% working interest in the southeastern quarter of Section 12-050-02W4.
Average daily production net to the Partners from Section 21 for the four months ended April 30, 2026 was approximately 173 bbl/d of heavy oil.
Operating income net to the Partners from Section 21 for the four months ended April 30, 2026 was approximately $234,000 per month or $2.8 million on an annualized basis.
The Partners acquired a 100% working interest in the two vertical commingled oil wells Kasten 6C RE Lloyd 06-21-050-01W4 and Kasten 7B Lloyd 07-21-050-01W4.
The Partners initially drilled the horizontal wells at 02/10-21-050-01W4/0, 02/15-21-050-01W4/0 and 02/15-21-050-01W4/2 into the Sparky Formation in August 2025 from the same pad at 09-20-05-01W4. In December 2025, the Company followed up by drilling the horizontal multi-leg wells at 04/15-21-050-01W4 and 05/15-21-050-01W4 into the Sparky Formation from the surface location 16-20-050-01W4.
The Partners have further wells licensed at 03/10-21-050-01W4/00 and 03/15-21-050-01W4/00 for the GP Formation.
The Company’s lands in Section 21 immediately offset development of a commingled Mannville pool by Taku Gas Limited.
At Lloydminster, the Partners hold a 100% working interest (60% BrightSpot) in Section 21-050-01W4 on which it has drilled 6 wells. Section 21 is subject to 16% freehold royalty and 8% GORR net freehold royalty. Production from the section consists of heavy oil from the commingled Sparky and GP formations of the Mannville Group. BrightSpot holds a 100% working interest in the southeastern quarter of Section 12-050-02W4.
Average daily production net to the Partners from Section 21 for the four months ended April 30, 2026 was approximately 173 bbl/d of heavy oil.
Operating income net to the Partners from Section 21 for the four months ended April 30, 2026 was approximately $234,000 per month or $2.8 million on an annualized basis.
The Partners acquired a 100% working interest in the two vertical commingled oil wells Kasten 6C RE Lloyd 06-21-050-01W4 and Kasten 7B Lloyd 07-21-050-01W4.
The Partners initially drilled the horizontal wells at 02/10-21-050-01W4/0, 02/15-21-050-01W4/0 and 02/15-21-050-01W4/2 into the Sparky Formation in August 2025 from the same pad at 09-20-05-01W4. In December 2025, the Company followed up by drilling the horizontal multi-leg wells at 04/15-21-050-01W4 and 05/15-21-050-01W4 into the Sparky Formation from the surface location 16-20-050-01W4.
The Partners have further wells licensed at 03/10-21-050-01W4/00 and 03/15-21-050-01W4/00 for the GP Formation.
The Company’s lands in Section 21 immediately offset development of a commingled Mannville pool by Taku Gas Limited.
Lloydminster, Alberta
Gross Production Group Plot of BrightSpot's Oil Wells
BrightSpot has identified additional drilling upside on its lands at Lloydminster with 3 multi-leg GP locations and one multi-leg Sparky location in Section 21-050-01W4 and one multi-leg Sparky drilling location on its lands in Section 12-050-02W4. The Company estimates costs to drill, complete and equip the wells to be between $1.4-$1.8 million. Each multi-leg well is projected to have between 6-12 legs.
Further technical details on the Property will be made available to parties that execute a confidentiality agreement.
Lloydminster Seismic
The Company does not have ownership in any seismic data relating to the Property.
Lloydminster Facilities
At Lloydminster, the Company has ownership in crude oil multi-well batteries at 09-20-050-01W4 and 16-20-050-01W4.
Lloydminster Marketing
The Partners have a general month-to-month agreement with Cenovus Energy Inc. and Tidal Energy Marketing Inc.
Lloydminster Reserves
Chapman Hydrogen and Petroleum Engineering Ltd. (“Chapman”) prepared an independent reserves evaluation of the Property (the “Chapman Report”) as part of the Company’s year-end reporting. The Chapman Report is effective December 31, 2025 using Chapman’s January 1, 2026 forecast pricing.
The Chapman Report is based on BrightSpot's 60% working interest (not the Partners’ 100% interest) in Section 21-050-01W4 and 100% working interest in the southeastern quarter of Section 12-050-02W4.
Chapman estimates that, as at December 31, 2025, the Property has remaining proved plus probable reserves of 1.1 million barrels of heavy oil (1.1 million boe), with an estimated net present value of $17.5 million using forecast pricing at a 10% discount.
Further technical details on the Property will be made available to parties that execute a confidentiality agreement.
Lloydminster Seismic
The Company does not have ownership in any seismic data relating to the Property.
Lloydminster Facilities
At Lloydminster, the Company has ownership in crude oil multi-well batteries at 09-20-050-01W4 and 16-20-050-01W4.
Lloydminster Marketing
The Partners have a general month-to-month agreement with Cenovus Energy Inc. and Tidal Energy Marketing Inc.
Lloydminster Reserves
Chapman Hydrogen and Petroleum Engineering Ltd. (“Chapman”) prepared an independent reserves evaluation of the Property (the “Chapman Report”) as part of the Company’s year-end reporting. The Chapman Report is effective December 31, 2025 using Chapman’s January 1, 2026 forecast pricing.
The Chapman Report is based on BrightSpot's 60% working interest (not the Partners’ 100% interest) in Section 21-050-01W4 and 100% working interest in the southeastern quarter of Section 12-050-02W4.
Chapman estimates that, as at December 31, 2025, the Property has remaining proved plus probable reserves of 1.1 million barrels of heavy oil (1.1 million boe), with an estimated net present value of $17.5 million using forecast pricing at a 10% discount.
Lloydminster Liability Assessment
As of July 1, 2026, the Property had deemed liabilities of $800,016.
Lloydminster Well List
Click here to download the complete well list in Excel.
As of July 1, 2026, the Property had deemed liabilities of $800,016.
Lloydminster Well List
Click here to download the complete well list in Excel.
PROCESS & TIMELINE
Sayer Energy Advisors is accepting cash offers to acquire the Property until 12:00 pm on Thursday, October 15, 2026.
Sayer Energy Advisors does not typically conduct a "second-round" bidding process; the intention is to attempt to conclude a
transaction(s) with the party(ies) submitting the most acceptable proposal(s) at the conclusion of the process.
transaction(s) with the party(ies) submitting the most acceptable proposal(s) at the conclusion of the process.
Sayer Energy Advisors is accepting cash offers from interested parties until
noon on Thursday, October 15, 2026.
NOTE REGARDING A SAYER PROCESS
On each and every offering brochure generated by Sayer, you will note the sentence “Sayer Energy Advisors does not conduct a “second-round” bidding process; the intention is to attempt to conclude a sale of the Property with the party submitting the most acceptable proposal at the conclusion of the process.” What this means is that Sayer will not go back to multiple parties at the same time after bids are received, asking them all for a second bid. We determine which party submitted the most acceptable proposal and then we attempt to negotiate acceptable terms with that party in a “one-off” situation.
If the process involves a cash sale of a property or company and the party which submitted the most acceptable proposal has met our client’s threshold value, that offer will be accepted. If this proposal does not meet our client’s threshold value, then we will advise that party that the offer is not quite what our client was expecting, and we will ask them to increase the offer. If that offer is not acceptable to our client, we will then move down to the party which submitted the next most acceptable proposal and we will then work with that party to attempt to meet our client’s threshold value.
In the extremely rare circumstance where two or more parties submit virtually identical proposals, we will contact all parties, we will advise them of this situation and we will ask them to submit a revised proposal. Once these are received, we will work with the party which has submitted the most acceptable proposal.If the process involves a cash sale of a property or company and the party which submitted the most acceptable proposal has met our client’s threshold value, that offer will be accepted. If this proposal does not meet our client’s threshold value, then we will advise that party that the offer is not quite what our client was expecting, and we will ask them to increase the offer. If that offer is not acceptable to our client, we will then move down to the party which submitted the next most acceptable proposal and we will then work with that party to attempt to meet our client’s threshold value.
CONFIDENTIALITY AGREEMENT
Parties wishing to receive access to the confidential information with detailed information relating to this opportunity should execute the Confidentiality Agreement and return one copy to Sayer Energy Advisors by courier, email (brye@sayeradvisors.com) or fax (403.266.4467).
Included in the confidential information is the following: summary land information, the Chapman Report, most recent net operations summary, and other relevant technical information.
Download Confidentiality Agreement
To receive further information on the Property please contact Ben Rye, Tom Pavic or Sydney Birkett at 403.266.6133.