Oil & Gas Exploration & Production M&A » By The Online Investor Staff, updated Thu., Apr. 25, 6:12 AM
Recent mergers and acquisitions in the Oil & Gas Exploration & Production M&A category.
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Slide #66. Montana Exploration Corp. — Waldron Energy Corporation
Acquirer:
Montana Exploration Corp. (MTZ.CA)
Acquiree:
Waldron Energy Corporation
Details:
Montana Exploration Corp. ("Montana") (TSXV:MTZ) and Waldron Energy Corporation ("Waldron") (TSX:WDN) are pleased to announce that they have entered into an arrangement agreement (the "Arrangement Agreement") pursuant to which Montana will acquire all of the issued and outstanding common shares of Waldron (the "Arrangement"). Under the Arrangement, shareholders of Waldron may elect to receive: (a) 1.8 common shares of Montana for each Waldron share held (a "Waldron Share"); or (b) $0.45 cash for each Waldron Share held; or (c) a combination of common shares of Montana and cash, subject to potential proration (as described below).
AltaCanada Energy is engaged in exploration for, development, production and marketing of petroleum and natural gas in western Canada and Montana. As of Dec 31 2009, Co. had proved light and medium oil reserves consisting of 4 thousand barrels (mbbl) gross (4 mbbl net), proved heavy oil reserves consisting of 10 mbbl gross (10 mbbl net), proved natural gas reserves consisting of 6,117 million cubic feet gross (mmcf) (5,072 mmcf net) and proved natural gas liquids reserves consisting of 1 mbbl gross.
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