To: Goose94 who wrote (12309 ) 5/19/2015 8:03:51 AM From: Goose94 Read Replies (1) | Respond to Striker Exploration (SKX-V) May 19, '15 is pleased to announce that it has entered into a purchase and sale agreement with an arm's length public oil and gas company for the acquisition of an asset in the Wilson Creek area for $3.875 million cash, before adjustments (the "Acquisition"). The Acquisition is expected to close on or about June 16, 2015 with an effective date of April 1, 2015.Purchase price - cash (millions) $3.88 2015 average daily production estimate (boe/d) 145 70 % liquids Proved producing reserves (Mboe) (1) 228 75 % liquids Proved producing (millions) (1)(2) $2.65 Proved plus probable producing reserves (Mboe) (1) 300 74 % liquids Proved plus probable producing (millions) (1)(2) $3.54 2015 cash flow estimate (millions) $0.75 2015 average production estimate (/boe/d) $26,724 Proved producing reserves (/boe) $17.00 Proved plus probable producing reserves (/boe) $12.92 2015 cash flow estimate/purchase price 5.2x
The highlights and reserves summary sets forth the Acquisition's gross reserves as at March 31, 2015 as evaluated in an independent report prepared by GLJ Petroleum Consultants Ltd. ("GLJ") dated May 8, 2015 (the "GLJ Report"). The figures in the table have been prepared in accordance with the standards contained in the Canadian Oil and Gas Evaluation Handbook (the "COGE Handbook") and the reserve definitions contained in NI 51-101. Before tax net present value based on a 10 percent discount rate from the GLJ Report using April 1, 2015 forecast prices.The Acquisition includes Belly River vertical wells producing or completed in both channel and basal Belly River sands. Management believes these wells provide invaluable data points in supporting horizontal development. ABOUT STRIKER
