CANADIAN OILPATCH / FINANCIAL
Another one looking to be bought out?
JAGUAR RETAINS FINANCIAL ADVISOR
CALGARY, Nov. 14 /CNW/ - Jaguar Petroleum Corporation announced today
that it has retained Peters & Co. Limited as its financial advisor, to assist
in a review of strategic alternatives available to the Company to maximize
shareholder value. In this regard, Peters & Co. will seek proposals for the
acquisition, merger or recapitalization of the Company. It is expected that a
data room will be open for interested parties in early December. The Board of
Directors reached this decision after a review of Jaguar's resources,
opportunities and capital requirements in the context of the current industry
environment. The Board concluded that a sale to, or business combination with,
another company would best enhance the Company's value to its shareholders in
the near term.
Jaguar anticipates producing 5.8 MMcf/d of natural gas and 130 bbIs/d of
oil and natural gas liquids by January 1997 and has two development wells and
four exploratory wells slated for drilling this winter.
Jaguar Petroleum Corporation is a natural resource company headquartered
in Calgary and engaged in the exploration, development, production and
processing of petroleum and natural gas. The Company's current
operations are focused in the Hillsdown/Joffre, Gilby, Pembina, Barrhead,
Bashaw and Morinville areas of central Alberta. Jaguar has 16.5
million shares outstanding and the Common shares of the Corporation
trade on the Common shares of the Corporation trade on the Toronto Stock
Exchange under the symbol ``JPC''. |
