Birchcliff Energy Ltd., Calgary, (Toronto: BIR) plans to acquire oil assets in Alberta from Compton Petroleum Corp., Calgary, (Toronto: CMT; NYSE: CMZ) for C$270 million in cash. The assets are in the Worsley area of the Peace River Arch. Production is 3,500 barrels of oil equivalent per day, including 4.8 million cubic feet per day of associated gas. Proved reserves are 11.3 million barrels equivalent and proved and probable reserves are 15.1 million barrels equivalent.
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