Offering Details
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Current Offerings / Benkoil Resources Ltd.
Benkoil Resources Ltd.
Property DivestitureBid Deadline: December 17, 2026
12:00 PM
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OVERVIEW
Benkoil Resources Ltd. (“Benkoil” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of its oil and natural gas interests located in the Lindbergh and Meekwap areas of Alberta (the “Properties”).Production from Lindbergh is from the Rex and Sparky formations from four horizontal multi-leg wells which the Company drilled from a single pad in 2025. The Company has identified significant potential for drilling additional multi-zone Mannville stack wells on its lands at Lindbergh. The Sparky and Rex formations at Lindbergh are the main target reservoirs. Additionally, the Company has identified potential in the McLaren and Lloydminster formations.
Average daily production net to Benkoil from Lindbergh for the month of October 2026 was approximately 40 bbl/d of oil from the two wells 103/02-28-057-05W4 and 105/01-28-057-05W4.
Forecasted operating income net to Benkoil from Lindbergh for the year ended December 31, 2027 is approximately $425,000 on a proved developed producing basis.
As of November 1, 2026, the Lindbergh property had a deemed liability value of $738,473.
At Meekwap, the Company holds a 100% working interest in one section of undeveloped land which was acquired prospective for the Nisku Formation.
Overview Map Showing the Location of the Divestiture Properties
LINDBERGH
Township 57, Range 5 W4At Lindbergh, near Cold Lake, Benkoil holds primarily a 100% working interest in one section of land. Production from Lindbergh is from the Rex and Sparky formations from four horizontal multi-leg wells which the Company drilled from a single pad in 2025.
Average daily production net to Benkoil from Lindbergh for the month of October 2026 was approximately 40 bbl/d of oil from the two wells 103/02-28-057-05W4 and 105/01-28-057-05W4.
Forecasted operating income net to Benkoil from Lindbergh for the year ended December 31, 2027 is approximately $425,000 on a proved developed producing basis.
The Company has identified significant potential for drilling additional multi-zone Mannville stack wells on its lands at Lindbergh.
The Company also has a disposal facility located at 02-01-33-057-05W4.
Lindbergh, Alberta – Gross Production Group Plot of Benkoil’s Oil Wells
Lindbergh Upside
Mannville Stack
The Sparky and Rex formations at Lindbergh are the main target reservoirs. Additionally, the Company has identified potential in the McLaren and Lloydminster formations.
Sparky, Rex
The Company has identified 26 existing wells in the area with cumulative Sparky and Rex production of 19,600 bbl. Average cumulative production is approximately 7,500 bbl/well. Peak production rate from these wells is between 6-112 bbl/d, with average production of 15 bbl/d and a recovery factor of 1.5%.
The Sparky reservoir is found at depths of approximately 460 m and contains between 2.5 m of net oil pay with 11.9-13.3° API oil. Average porosity is 35% with average permeability of 1.3 D.
The Rex reservoir is found at depths of approximately 480 m and contains between 2.0 m of net oil pay with 11.9-13.3° API oil. Average porosity is 34% with average permeability of 1.3 D.
The Company has identified 11 potential multi-lateral wells, 6 in the Sparky and 5 in the Rex formations.
McLaren
The McLaren reservoir is found at depths of approximately 430 m and contains between 10.0 m of net oil pay with 11.4-11.6° API oil. Average porosity is 35% with average permeability of 3.0 D.
The Company has identified 1 potential multi-lateral well in the McLaren Formation.
Lloydminster
The Lloydminster reservoir is found at depths of approximately 495 m and contains between 3.0 m of net oil pay. Average porosity is 34% with average permeability of 3.8 D.
The Company believes there is additional potential for multi-lateral wells in the Lloydminster Formation but most existing wells in the area have not penetrated the zone.
Lindbergh Facilities
The Company holds working interests in the following facilities at Lindbergh.
The facility construction at Lindbergh is recent and of high quality. The storage tanks are brand‑new, with each having a total capacity of 160 m³. With 4 production wells and 1 water‑injection well, a total of 9 tanks are deployed. Each tank originally cost approximately $80,000 at the time of purchase.
Further details on the Company’s facilities are available in the virtual data room for parties that execute a confidentiality agreement.
Lindbergh Marketing
Benkoil has a crude oil purchase agreement in place with Acme Energy Marketing Ltd. Emulsion is trucked from 01-28-057-05W4 and sold at the 13-22-042-02W4 Chauvin terminal CP 421.
Lindbergh Reserves
Sproule ERCE (“Sproule”) prepared an independent reserves evaluation of the Properties (the “Sproule Report”). The Sproule Report is effective June 30, 2026 using Sproule’s forecast pricing as at June 30, 2026.
Sproule estimated that, as at June 30, 2026, the Lindbergh property contained remaining proved plus probable reserves of 93,000 barrels of oil (93,000 boe), with an estimated net present value of $1.9 million using forecast pricing at a 10% discount.
Lindbergh Liabililty Assessment
As of November 1, 2026, the Lindbergh property had a deemed liability value of $738,473.
Lindbergh Well List
Click here to download the complete well list in Excel.
MEEKWAP
Township 67, Range 15 W5At Meekwap, Benkoil holds a 100% working interest in one section of land.
The Meekwap property was acquired by Benkoil to target the Nisku Formation. The Company has identified significant horizontal drilling potential on its lands at Meekwap.
Meekwap Upside
The Nisku Formation of the Late Devonian Winterburn Group is the primary target on Benkoil’s lands at Meekwap.
Regionally, the stratigraphy above and below the Nisku Formation is very stable, providing the basis for stratigraphic correlation and identification. The Nisku Formation is carbonate, distributed evenly across the block with good reservoir quality. Three reservoir intervals are developed from top to bottom: upper, middle, and lower pools.
The Nisku Formation comprises multiple transgressive-regressive depositional units; the interval with the best-developed reefs/banks, most complete dolomitization, and is the main oil-producing zone. The underlying Ireton Formation is a calcareous shale and marl; serves both as a source rock and as lateral and bottom seal for updip reef hydrocarbon accumulations.
The Company has evaluated the Nisku reservoir at Meekwap through existing regional production and core analysis and determined the reservoir to be good quality through the upper, middle and lower zones which are laterally disconnected. The Company believes there is no bottom water in the target area where the pools are controlled through a structural high which is suitable for reservoir stimulation to enhance single well production. The following cross-section shows the upper, middle and lower Nisku carbonate target.
Meekwap, AB – Nisku Stratigraphic Cross-Section
The Nisku reservoir is found at depths of approximately 2,010 m. No water contact was identified within the target area; no bottom water or edge water.
Meekwap Seismic
Benkoil does not have ownership in any seismic data at Meekwap.
Meekwap Facilities
The Company does not hold working interests in any facilities at Meekwap.
Meekwap Reserves
The Company does not have a third-party reserves report for Meekwap.
Meekwap Liability Assessment
The Company does not hold working interests in any wells at Meekwap.
PROCESS & TIMELINE
Sayer Energy Advisors is accepting cash offers to acquire the Properties until 12:00 pm on Thursday, December 17, 2026.
Sayer Energy Advisors does not conduct a "second-round" bidding process; the intention is to attempt to conclude
transactions with the parties submitting the most acceptable proposals at the conclusion of the process.
transactions with the parties submitting the most acceptable proposals at the conclusion of the process.
Sayer Energy Advisors is accepting cash offers from interested parties until
noon on Thursday, December 17, 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 Properties 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 technical 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 Sproule Report, deemed liability information, most recent net operations summary, detailed facilities information and other relevant technical information.
Download Confidentiality Agreement
To receive further information on the Properties please contact Ben Rye, Tom Pavic or Sydney Birkett at 403.266.6133.