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Properties / Tallahassee Exploration Inc.
Tallahassee Exploration Inc.
Property DivestitureBid Deadline: July 7, 2022
12:00 PM
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OVERVIEW
TALLAHASSEE HAS SOLD ITS INTERESTS IN THE MAXHAMISH AREA OF BRITISH COLUMBIA
Tallahassee Exploration Inc. (“Tallahassee” or the “Company”) has engaged Sayer Energy Advisors to assist it with the sale of certain non-core operated and non-operated oil and natural gas assets located in the Deer, Medicine Hat, Matziwin, Nipisi, Pine Creek, Princess and Wedge areas of Alberta and the Maxhamish area of British Columbia (the “Properties”).
Tallahassee Exploration Inc. (“Tallahassee” or the “Company”) has engaged Sayer Energy Advisors to assist it with the sale of certain non-core operated and non-operated oil and natural gas assets located in the Deer, Medicine Hat, Matziwin, Nipisi, Pine Creek, Princess and Wedge areas of Alberta and the Maxhamish area of British Columbia (the “Properties”).
Overview Map Showing Location of the Divestiture Properties
Production Overview
Recent average daily production net to Tallahassee from the Properties was approximately 458 boe/d, consisting of 2.3 MMcf/d of natural gas and 70 barrels of oil and natural gas liquids per day, as outlined below.
Tallahassee’s forecasted annualized net operating income from the Properties is approximately $490,000 per month, or $5.9 million on an annualized basis.
Recent average daily production net to Tallahassee from the Properties was approximately 458 boe/d, consisting of 2.3 MMcf/d of natural gas and 70 barrels of oil and natural gas liquids per day, as outlined below.
Tallahassee’s forecasted annualized net operating income from the Properties is approximately $490,000 per month, or $5.9 million on an annualized basis.
*Production numbers for the month of April 2022
**Reactivated in March 2022
***Initial Reactivation Planned: 20 bbl/d of oil
Gross Production Group Plot of Tallahassee's Oil & Natural Gas Wells
LMR Summary
As of May 7, 2022, Tallahassee’s net deemed asset value for the Properties was ($936,487) (deemed assets of $6.0 million and deemed liabilities of $6.9 million), with an LMR ratio of 0.87.
The LMR for each of the Tallahassee operated Properties as of May 7, 2022 is summarized below.
As of May 7, 2022, Tallahassee’s net deemed asset value for the Properties was ($936,487) (deemed assets of $6.0 million and deemed liabilities of $6.9 million), with an LMR ratio of 0.87.
The LMR for each of the Tallahassee operated Properties as of May 7, 2022 is summarized below.
Summary of LMR by Property
The LMR for the Wedge property is projected to be over 1.0 after full twelve months of rolling production.
Reserves Overview
The Company prepared an internal reserves evaluation of the Properties specifically for this divestiture (the “Reserve Report”). The Reserve Report is effective April 1, 2022 using an average of GLJ Ltd., McDaniel & Associates Consultants Ltd. and Sproule Associates Limited’s April 1, 2022 forecast pricing.
Tallahassee estimates that, as of April 1, 2022, the Properties contained remaining proved plus probable reserves of 534,000 barrels of oil and natural gas liquids and 11.0 Bcf of natural gas (2.4 million boe), with an estimated net present value of $20.7 million using forecast pricing at a 10% discount.
Reserves Overview
The Company prepared an internal reserves evaluation of the Properties specifically for this divestiture (the “Reserve Report”). The Reserve Report is effective April 1, 2022 using an average of GLJ Ltd., McDaniel & Associates Consultants Ltd. and Sproule Associates Limited’s April 1, 2022 forecast pricing.
Tallahassee estimates that, as of April 1, 2022, the Properties contained remaining proved plus probable reserves of 534,000 barrels of oil and natural gas liquids and 11.0 Bcf of natural gas (2.4 million boe), with an estimated net present value of $20.7 million using forecast pricing at a 10% discount.
The Reserve Report does not include reserves associated with the Deer, Medicine Hat and Princess properties.
PRINCESS
Township 20-21, Range 10 W4
At Princess, Tallahassee holds a 100% working interest in 16.75 sections of land on which there are several producing natural gas wells. The shallow natural gas production is primarily from the Milk River and Medicine Hat formations.
Average daily production net to Tallahassee from Princess for the month of May 2022 was approximately 680 Mcf/d of natural gas (113 boe/d). Production optimization efforts have been ongoing since the first quarter of 2022.
Tallahassee’s forecasted net operating income from Princess is approximately $93,000 per month, or $1.1 million on an annualized basis.
At Princess, Tallahassee holds a 100% working interest in 16.75 sections of land on which there are several producing natural gas wells. The shallow natural gas production is primarily from the Milk River and Medicine Hat formations.
Average daily production net to Tallahassee from Princess for the month of May 2022 was approximately 680 Mcf/d of natural gas (113 boe/d). Production optimization efforts have been ongoing since the first quarter of 2022.
Tallahassee’s forecasted net operating income from Princess is approximately $93,000 per month, or $1.1 million on an annualized basis.
Princess, Alberta
Gross Production Group Plot of Tallahassee's Natural Gas Wells
Princess Seismic
Tallahassee does not have any seismic data over its lands at Princess.
Princess Facilities
Tallahassee holds a 100%, operated working interest in the Princess Shallow Gas gathering system which includes the 08-16-020-10W4 natural gas battery facility with compression and dehydration design capacity of approximately 8 MMcf/d. Sales gas is connected to TCPL/Nova (Princess-Iddesleigh at 16-16-020-10W4).
The Company has a natural gas handling agreement with Cor4 Oil Corp. at Princess.
Princess LMR
As of May 7, 2022, Tallahassee’s net deemed asset value for Princess was ($784,838) (deemed assets of $3.2 million and deemed liabilities of $4.0 million), with an LMR ratio of 0.80.
Tallahassee does not have any seismic data over its lands at Princess.
Princess Facilities
Tallahassee holds a 100%, operated working interest in the Princess Shallow Gas gathering system which includes the 08-16-020-10W4 natural gas battery facility with compression and dehydration design capacity of approximately 8 MMcf/d. Sales gas is connected to TCPL/Nova (Princess-Iddesleigh at 16-16-020-10W4).
The Company has a natural gas handling agreement with Cor4 Oil Corp. at Princess.
Princess LMR
As of May 7, 2022, Tallahassee’s net deemed asset value for Princess was ($784,838) (deemed assets of $3.2 million and deemed liabilities of $4.0 million), with an LMR ratio of 0.80.
Princess Reserves
The Princess property was not evaluated by Tallahassee for this divestiture.
Princess Well List
Click here to download the complete welll list in Excel.
The Princess property was not evaluated by Tallahassee for this divestiture.
Princess Well List
Click here to download the complete welll list in Excel.
WEDGE
Township 61-62, Range 6-7 W5
At Wedge, Tallahassee holds a 100% working interest in 16 sections of land on which there are several wells.
Average daily production net to Tallahassee from Wedge for the month of May 2022 was approximately 606 Mcf/d of natural gas (101 boe/d). The property was reactivated in January 2022. Five wells are currently on production and the remaining wells are expected on production in August 2022.
Tallahassee’s forecasted net operating income from Wedge is approximately $72,200 per month, or $865,000 on an annualized basis.
At Wedge, Tallahassee holds a 100% working interest in 16 sections of land on which there are several wells.
Average daily production net to Tallahassee from Wedge for the month of May 2022 was approximately 606 Mcf/d of natural gas (101 boe/d). The property was reactivated in January 2022. Five wells are currently on production and the remaining wells are expected on production in August 2022.
Tallahassee’s forecasted net operating income from Wedge is approximately $72,200 per month, or $865,000 on an annualized basis.
Wedge, Alberta
Gross Production Group Plot of Tallahassee's Natural Gas Wells
Wedge Facilities
In the Wedge area, Tallahassee operates and holds a 100% working interest in a natural gas gathering system and a natural gas processing plant located at 05-07-062-06W5.
Wedge LMR
As of May 7, 2022, Tallahassee’s net deemed asset value for Wedge was ($263,185) (deemed assets of $912,193 and deemed liabilities of $1.2 million), with an LMR ratio of 0.78.
In the Wedge area, Tallahassee operates and holds a 100% working interest in a natural gas gathering system and a natural gas processing plant located at 05-07-062-06W5.
Wedge LMR
As of May 7, 2022, Tallahassee’s net deemed asset value for Wedge was ($263,185) (deemed assets of $912,193 and deemed liabilities of $1.2 million), with an LMR ratio of 0.78.
The LMR for the Wedge property is projected to be over 1.0 after full twelve months of rolling production.
Wedge Reserves
The Company prepared an internal reserves evaluation of the Properties specifically for this divestiture (the “Reserve Report”). The Reserve Report is effective April 1, 2022 using an average of GLJ Ltd., McDaniel & Associates Consultants Ltd. and Sproule Associates Limited’s April 1, 2022 forecast pricing.
Tallahassee estimates that, as of April 1, 2022, the Wedge property contained remaining proved plus probable reserves of 9.1 Bcf of natural gas (1.5 million boe), with an estimated net present value of $8.6 million using forecast pricing at a 10% discount.
The Company prepared an internal reserves evaluation of the Properties specifically for this divestiture (the “Reserve Report”). The Reserve Report is effective April 1, 2022 using an average of GLJ Ltd., McDaniel & Associates Consultants Ltd. and Sproule Associates Limited’s April 1, 2022 forecast pricing.
Tallahassee estimates that, as of April 1, 2022, the Wedge property contained remaining proved plus probable reserves of 9.1 Bcf of natural gas (1.5 million boe), with an estimated net present value of $8.6 million using forecast pricing at a 10% discount.
Wedge Well List
Click here to download the complete well list in Excel.
Click here to download the complete well list in Excel.
PINE CREEK
Township 51-55, Range 17-19 W5
At Pine Creek, Tallahassee holds 15%-18.75% working interests in two sections of land operated by Westbrick Energy Ltd. on which there are several producing natural gas wells. Tallahassee also holds various working interests in 10 sections of land operated by AlphaBow Energy Ltd. on which there are several producing oil wells.
Average daily production net to Tallahassee from Pine Creek for the month of April 2022 was approximately 325 Mcf/d of natural gas and 28 barrels of oil and natural gas liquids (82 boe/d).
Tallahassee’s forecasted net operating income from Pine Creek is approximately $154,300 per month, or approximately $1.9 million on an annualized basis.
The Company believes there is upside in various zones including in the Notikewin, Bluesky, Cardium, Falher, Gething, Wilrich and Second White Specks formations on its lands at Pine Creek.
At Pine Creek, Tallahassee holds 15%-18.75% working interests in two sections of land operated by Westbrick Energy Ltd. on which there are several producing natural gas wells. Tallahassee also holds various working interests in 10 sections of land operated by AlphaBow Energy Ltd. on which there are several producing oil wells.
Average daily production net to Tallahassee from Pine Creek for the month of April 2022 was approximately 325 Mcf/d of natural gas and 28 barrels of oil and natural gas liquids (82 boe/d).
Tallahassee’s forecasted net operating income from Pine Creek is approximately $154,300 per month, or approximately $1.9 million on an annualized basis.
The Company believes there is upside in various zones including in the Notikewin, Bluesky, Cardium, Falher, Gething, Wilrich and Second White Specks formations on its lands at Pine Creek.
Pine Creek, Alberta
Gross Production Group Plot of Tallahassee's Oil & Natural Gas Wells
Pine Creek Seismic
Tallahassee does not have any seismic data over its lands at Pine Creek.
Pine Creek Facilities
Tallahassee does not own any facilities at Pine Creek.
Pine Creek LMR
The Company does not operate any wells or facilities at Pine Creek.
Pine Creek Reserves
The Company prepared an internal reserves evaluation of the Properties specifically for this divestiture (the “Reserve Report”). The Reserve Report is effective April 1, 2022 using an average of GLJ Ltd., McDaniel & Associates Consultants Ltd. and Sproule Associates Limited’s April 1, 2022 forecast pricing.
Tallahassee estimates that, as of April 1, 2022, the Pine Creek (Westbrick operated) property contained remaining proved plus probable reserves of 510 MMcf of natural gas and 60,000 barrels of oil and natural gas liquids (145,000 boe), with an estimated net present value of $1.2 million using forecast pricing at a 10% discount.
Tallahassee does not have any seismic data over its lands at Pine Creek.
Pine Creek Facilities
Tallahassee does not own any facilities at Pine Creek.
Pine Creek LMR
The Company does not operate any wells or facilities at Pine Creek.
Pine Creek Reserves
The Company prepared an internal reserves evaluation of the Properties specifically for this divestiture (the “Reserve Report”). The Reserve Report is effective April 1, 2022 using an average of GLJ Ltd., McDaniel & Associates Consultants Ltd. and Sproule Associates Limited’s April 1, 2022 forecast pricing.
Tallahassee estimates that, as of April 1, 2022, the Pine Creek (Westbrick operated) property contained remaining proved plus probable reserves of 510 MMcf of natural gas and 60,000 barrels of oil and natural gas liquids (145,000 boe), with an estimated net present value of $1.2 million using forecast pricing at a 10% discount.
Tallahassee estimates that, as of April 1, 2022, the Pine Creek (AlphaBow operated) property contained remaining proved plus probable reserves of 88,000 barrels of oil and natural gas liquids and 1.2 Bcf of natural gas (294,000 boe), with an estimated net present value of $2.7 million using forecast pricing at a 10% discount.
Pine Creek Well List
Click here to download the complete well list in Excel.
Click here to download the complete well list in Excel.
DEER
Township 23-25, Range 5-7 W4
At Deer, Tallahassee operates and holds high working interests in 16 sections of land on which there are several producing natural gas wells.
Average daily production net to Tallahassee from Deer for the month of May 2022 was approximately 331 Mcf/d of natural gas (55 boe/d). The production optimization efforts have been underway since the first quarter of 2022.
Tallahassee’s forecasted net operating income from Deer is approximately $42,100 per month, or approximately $505,000 on an annualized basis.
At Deer, Tallahassee operates and holds high working interests in 16 sections of land on which there are several producing natural gas wells.
Average daily production net to Tallahassee from Deer for the month of May 2022 was approximately 331 Mcf/d of natural gas (55 boe/d). The production optimization efforts have been underway since the first quarter of 2022.
Tallahassee’s forecasted net operating income from Deer is approximately $42,100 per month, or approximately $505,000 on an annualized basis.
Deer, Alberta
Gross Production Group Plot of Tallahassee's Natural Gas Wells
Deer Seismic
Tallahassee does not have any seismic data over its lands at Deer.
Deer Facilities
In the Deer area, Tallahassee operates and holds a 100% working interest in the Gulf Deer Gas Gathering System which delivers to a natural gas battery facility located at 01-03-024-06W4. Sales gas is connected to TCPL/Nova (Bindloss West at 08-28-022-05W4).
The Company has a natural gas handling agreement with Cor4 Oil Corp. at Deer.
Deer LMR
As of May 7, 2022, Tallahassee’s net deemed asset value for Deer was $581,256 (deemed assets of $1.8 million and deemed liabilities of $1.2 million), with an LMR ratio of 1.48.
Deer Reserves
The Deer property was not evaluated by Tallahassee for this divestiture.
Deer Well List
Click here to download the complete well list in Excel.
MEDICINE HAT
Township 17-19, Range 1-2 W4
At Medicine Hat, Tallahassee holds a 29.13667% working interest in the Medicine Hat Hilda Gas Unit No. 2 operated by Canadian Natural Resources Limited.
Average daily production net to Tallahassee from Medicine Hat for the month of May 2022 was approximately 314 Mcf/d of natural gas (52 boe/d).
Tallahassee’s forecasted net operating income from Medicine Hat is approximately $26,000 per month, or approximately $310,000 on an annualized basis.
At Medicine Hat, Tallahassee holds a 29.13667% working interest in the Medicine Hat Hilda Gas Unit No. 2 operated by Canadian Natural Resources Limited.
Average daily production net to Tallahassee from Medicine Hat for the month of May 2022 was approximately 314 Mcf/d of natural gas (52 boe/d).
Tallahassee’s forecasted net operating income from Medicine Hat is approximately $26,000 per month, or approximately $310,000 on an annualized basis.
Medicine Hat, Alberta
Gross Production Group Plot of Medicine Hat Hilda Gas Unit No. 2
Medicine Hat Facilities
At Medicine Hat, Tallahassee has a 29.13667% working interest in a natural gas compression facility at 09-33-018-02W4 operated by Canadian Natural Resources Limited. Sales gas is connected to TCPL/Nova (Medicine Hat Northwest at 02-27-017-02W4).
Medicine Hat LMR
Tallahassee does not operate any wells of facilities at Medicine Hat.
Medicine Hat Reserves
The Medicine Hat property was not evaluated by Tallahassee for this divestiture.
Medicine Hat Well List
Click here to download the complete well list in Excel.
At Medicine Hat, Tallahassee has a 29.13667% working interest in a natural gas compression facility at 09-33-018-02W4 operated by Canadian Natural Resources Limited. Sales gas is connected to TCPL/Nova (Medicine Hat Northwest at 02-27-017-02W4).
Medicine Hat LMR
Tallahassee does not operate any wells of facilities at Medicine Hat.
Medicine Hat Reserves
The Medicine Hat property was not evaluated by Tallahassee for this divestiture.
Medicine Hat Well List
Click here to download the complete well list in Excel.
MATZIWIN
Township 23, Range 14 W5
At Matziwin, Tallahassee holds a 100% working interest in one quarter section of land on which there are two Pekisko wells.
There was no production from Matziwin in February 2022. The 100/15-09-023-14W4/0 well was reactivated in March 2022 and for the month of May 2022 was producing approximately 10 barrels of oil per day and three Mcf/d of natural gas (11 boe/d). Tallahassee expects to reactivate the remaining well in August 2022.
Tallahassee’s forecasted net operating income from Matziwin is approximately $31,300 per month, or $375,000 on an annualized basis.
At Matziwin, Tallahassee holds a 100% working interest in one quarter section of land on which there are two Pekisko wells.
There was no production from Matziwin in February 2022. The 100/15-09-023-14W4/0 well was reactivated in March 2022 and for the month of May 2022 was producing approximately 10 barrels of oil per day and three Mcf/d of natural gas (11 boe/d). Tallahassee expects to reactivate the remaining well in August 2022.
Tallahassee’s forecasted net operating income from Matziwin is approximately $31,300 per month, or $375,000 on an annualized basis.
Matziwin, Alberta
Gross Production Group Plot of Tallahassee's Oil & Natural Gas Wells
Matziwin Seismic
Tallahassee does not have any seismic data over its lands at Matziwin.
Matziwin Facilities
The Company’s wells at Matziwin produce to single well batteries.
Matziwin LMR
As of May 7, 2022, Tallahassee’s net deemed asset value for Matziwin was $21,629 (deemed assets of $158,113 and deemed liabilities of $136,484), with an LMR ratio of 1.16.
Tallahassee does not have any seismic data over its lands at Matziwin.
Matziwin Facilities
The Company’s wells at Matziwin produce to single well batteries.
Matziwin LMR
As of May 7, 2022, Tallahassee’s net deemed asset value for Matziwin was $21,629 (deemed assets of $158,113 and deemed liabilities of $136,484), with an LMR ratio of 1.16.
Matziwin Reserves
The Company prepared an internal reserves evaluation of the Properties specifically for this divestiture (the “Reserve Report”). The Reserve Report is effective April 1, 2022 using an average of GLJ Ltd., McDaniel & Associates Consultants Ltd. and Sproule Associates Limited’s April 1, 2022 forecast pricing.
Tallahassee estimates that, as of April 1, 2022, the Matziwin property contained remaining proved plus probable reserves of 95,000 barrels of oil, with an estimated net present value of $2.5 million using forecast pricing at a 10% discount.
The Company prepared an internal reserves evaluation of the Properties specifically for this divestiture (the “Reserve Report”). The Reserve Report is effective April 1, 2022 using an average of GLJ Ltd., McDaniel & Associates Consultants Ltd. and Sproule Associates Limited’s April 1, 2022 forecast pricing.
Tallahassee estimates that, as of April 1, 2022, the Matziwin property contained remaining proved plus probable reserves of 95,000 barrels of oil, with an estimated net present value of $2.5 million using forecast pricing at a 10% discount.
Matziwin Well List
Click here to download the complete well list in Excel.
Click here to download the complete well list in Excel.
NIPISI
Township 78-79, Range 8 W5
At Nipisi, Tallahassee holds 95%-100% working interests in four sections of land on which there are three non-producing oil wells and two water injection wells. Tallahassee believes the Nipisi property has total potential production of 65 barrels of oil per day.
There is currently no production from the Nipisi property. The Company is planning to reactivate the Nipisi property in September 2022. Tallahassee’s forecasted net operating income from Nipisi for 2022 is approximately $14,300 per month, or $172,400 on an annualized basis, based on forecasted production of approximately 20 barrels of oil per day from October to December 2022.
At Nipisi, Tallahassee holds 95%-100% working interests in four sections of land on which there are three non-producing oil wells and two water injection wells. Tallahassee believes the Nipisi property has total potential production of 65 barrels of oil per day.
There is currently no production from the Nipisi property. The Company is planning to reactivate the Nipisi property in September 2022. Tallahassee’s forecasted net operating income from Nipisi for 2022 is approximately $14,300 per month, or $172,400 on an annualized basis, based on forecasted production of approximately 20 barrels of oil per day from October to December 2022.
Nipisi, Alberta
Gross Production Group Plot of Tallahassee's Oil & Natural Gas Wells
Nipisi Facilities
Tallahassee owns two water disposal wells at Nipisi.
Nipisi LMR
As of May 7, 2022, Tallahassee’s net deemed asset value for Nipisi was ($491,350) (deemed assets of $0 and deemed liabilities of $491,350), with an LMR ratio of 0.00.
Tallahassee owns two water disposal wells at Nipisi.
Nipisi LMR
As of May 7, 2022, Tallahassee’s net deemed asset value for Nipisi was ($491,350) (deemed assets of $0 and deemed liabilities of $491,350), with an LMR ratio of 0.00.
Nipisi Reserves
The Company prepared an internal reserves evaluation of the Properties specifically for this divestiture (the “Reserve Report”). The Reserve Report is effective April 1, 2022 using an average of GLJ Ltd., McDaniel & Associates Consultants Ltd. and Sproule Associates Limited’s April 1, 2022 forecast pricing.
Tallahassee estimates that, as of April 1, 2022, the Nipisi property contained remaining proved plus probable reserves of 101,000 barrels of oil and natural gas liquids and 10 MMcf of natural gas (102,000 boe), with an estimated net present value of $1.5 million using forecast pricing at a 10% discount.
The Company prepared an internal reserves evaluation of the Properties specifically for this divestiture (the “Reserve Report”). The Reserve Report is effective April 1, 2022 using an average of GLJ Ltd., McDaniel & Associates Consultants Ltd. and Sproule Associates Limited’s April 1, 2022 forecast pricing.
Tallahassee estimates that, as of April 1, 2022, the Nipisi property contained remaining proved plus probable reserves of 101,000 barrels of oil and natural gas liquids and 10 MMcf of natural gas (102,000 boe), with an estimated net present value of $1.5 million using forecast pricing at a 10% discount.
Nipisi Well List
Click here to download the complete well list in Excel.
Click here to download the complete well list in Excel.
PROCESS & TIMELINE
Sayer Energy Advisors is accepting cash offers to acquire the Properties until 12:00 pm on Thursday July 7, 2022.
Sayer Energy Advisors does not 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 offers from interested parties until
noon on Thursday July 7, 2022.
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
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 Reserve Report, LMR 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 Tom Pavic, Ben Rye or Sydney Birkett at 403.266.6133.