Talisman Energy Inc., Calgary, plans to acquire Calgary-based Petromet Resources Ltd. at C$13.20 per share, for a deal value of C$806 million, including C$75 million of debt. The price per thousand cu. ft. of gas equivalent of proved reserves is C$1.92. Petromet has proved reserves of 291 billion cu. ft. of gas and 7 million bbl. of oil and liquids, or 332 billion cu. ft. of gas equivalent. Talisman's Canadian gas production is expected to average more than 850 million cu. ft. per day in 2001, following the acquisition, and approximately 975 million cu. ft. per day in 2002. Total production will be 452,000 BOE per day, up 12,000, this year. Ketch Energy Ltd., Calgary, plans to acquire Post Energy Corp. for C$8.60 per Post share up to C$80 million and/or 1.3 Ketch shares up to 10.5 million shares, for a deal value of C$200 million, including C$43 million of debt. Production is 5,200 BOE per day on a 10-to-1 basis including 23 million cu. ft. of liquids-rich gas. Griffiths McBurney & Partners is financial advisor to Post. TD Securities Inc. is financial advisor to Ketch. Hunt Oil Co. of Canada Inc. has acquired assets in the Waterton and Caroline areas of Alberta from Canadian 88 Energy Corp., Calgary, for C$176 million. Seneca Resources Corp., Buffalo, N.Y., subsidiary National Fuel Exploration Corp. plans to acquire Player Petroleum Corp. for C$16.25 per share or C$165 million, including assumed debt. The Player board plans to recommend acceptance of the offer. TD Securities Inc. is financial advisor to Player, whose operations are focused in east-central Alberta and total proved plus risked probable reserves were 8 million BOE as of year-end 2000 and proved reserves were 7.6 million BOE. Baytex Energy Ltd., Calgary, plans to acquire OGY Petroleums Ltd. for C$2.90 cash per share or 0.245 Baytex share per OGY, for a total value of C$72 million, including C$7 million of debt. Proved reserves total 1.8 million bbl. of oil and gas liquids and 25 billion cu. ft. of gas. Undeveloped land is approximately 77,000 net acres. Current production is 900 bbl. of oil and gas liquids and 15 million cu. ft. of gas per day. OGY operates in east-central Alberta and adjacent to Baytex's core properties at Leahurst and Drumheller. Griffiths McBurney & Partners is financial advisor to OGY. Separately, Baytex plans to acquire Triumph Energy Corp. for C$3.70 per share or 0.2846 Baytex share per Triumph, up to C$73 million in cash and 4.8 million Baytex shares, for a total value of C$159 million, including C$24.5 million in debt. Proved reserves total 6 million bbl. of oil and gas liquids and 48 billion cu. ft. of gas. Undeveloped land totals 118,000 net acres. Exco Resources Inc., Dallas, has acquired Calgary-based Addison Energy Inc., a private company, for C$51.3 million. Year-end proved reserves were 2.1 million bbl. of oil and liquids and 36.9 billion cu. ft. of gas. Net daily production in March was approximately 681 bbl. of oil and liquids and 8.2 million cu. ft. of gas. Exco is pursuing additional acquisitions in Alberta. APF Energy Trust, Calgary, has acquired Alliance Energy Inc., Vancouver, for C$2.02 per share plus the assumption of approximately C$4.6 million of debt, for a total of C$48.7 million. Research Capital Corp. was financial advisor to APF, which now, through Alliance, plans to complete the acquisition of additional production of 2,000 bbl. of oil per day in southeast Saskatchewan, in a deal between Alliance and a senior producer. Including daily production of 1,600 bbl. of oil from Alliance, APF will have acquired daily production of 3,600 bbl. of oil for C$89 million. CIBC World Markets Inc. is dealer-manager. Sydney, Australia-based Roc Oil Co. Ltd. plans to acquire 25.75 million Gulfstream Resources Canada Ltd., Calgary, common shares, representing 40%, for approximately C$28.3 million, a 51% premium. Raymond James Ltd. is financial advisor to Roc. Gulfstream management says Roc's plan is deficient and has advised shareholders to not tender their shares. Elk Point Resources Inc., Calgary, plans to purchase gas and light crude oil assets in the Pembina, Easyford and Bigoray areas of Alberta for approximately C$24.8 million. Current daily net production is 2.9 million cu. ft. of gas, 385 bbl. of light oil and 55 bbl. of gas liquids, or 730 BOE. Established reserves total 3.24 million BOE and proven reserves total 2.58 million BOE, in a 10-to-1 conversion. Shiningbank Energy Income Fund and subsidiary 923720 Alberta Inc. have acquired Ionic Energy Inc. for approximately C$45 million in cash and 4,914,000 Shiningbank trust units. Ionic had proven reserves of 69 billion cu. ft. of gas and 2.9 million bbl. of oil and gas liquids at year-end 2000. Since then, Ionic purchased a west-central Alberta gas-producing property at Whitecourt with proven reserves of 42 billion cu. ft. of gas and 300,000 bbl. of gas liquids. Globex Resources Ltd., Calgary, has sold its nonstrategic properties in British Columbia for C$2.4 million. PrimeWest Energy Trust , Calgary has acquired Cypress Energy Inc. Producing is currently 18,200 BOE per day, consisting of 78 million cu. ft. of gas and 5,200 bbl. of crude oil and gas liquids. Tusk Energy Inc. , Calgary, subsidiary Auburn Energy Ltd. has acquired Spirit Energy Ltd. for C$3 million or C$1.3449 per share and C34.49 cents per purchase warrant. Spirit's assets are a 10% interest in 14 producing and shut-in gas wells on the Saddle Lake First Nation, Alberta, a 10% interest in two shut-in gas wells on the Whitefish Lake First Nation and rights to participate in joint venture arrangements with the Saddle Lake, Whitefish Lake and Alexis First Nations. Longbow Energy Corp. , Calgary, plans to acquire all of M.F. Ross Energy Services Ltd. 's interests in a property in the Altares area of British Columbia for C$1.7 million. Red Raven Resources Inc. , Calgary, plans to acquire Rise Resources Ltd. for 12.7 million Red Raven common shares at C14 cents each and C$540,000. Production is 65 BOE per day. The combined company, which will be named Rise Energy Ltd. , would produce 115 BOE per day. Aurado Exploration Ltd. , Toronto, plans to purchase an interest in certain producing and nonproducing assets in the Ferrier area of western Alberta for C$825,000. Danoil Energy Ltd., Calgary, and Western Facilities Fund have merged with Nevis Ltd. WFF has changed its name to Acclaim Energy Trust and Danoil and Nevis are now Acclaim Energy Inc. Endless Energy Corp. , Calgary, plans to purchase privately held Valkyrie Resources Inc. for C$654,900, adding 15 BOE per day of production. Geocan Energy Inc., Calgary, plans to acquire interests primarily in the Carrot Creek and Tomahawk areas of west-central Alberta with net production of 110 BOE per day, 70% oil. Capital Providers W. Allen Parks has joined CIBC World Markets in Houston as an executive director. Parks was managing director, corporate finance, with Dain Rauscher Wessels in Dallas. Michael Young has joined institutional-research and investment-banking firm Gerard Klauer Mattison as senior research analyst covering integrated oils as part of the GKM Energy Group. Young was with Deutsche Banc Alex. Brown as a managing director and senior energy analyst, and at Smith Barney from 1987-96. JPMorgan , New York, has named Paul Horsnell head of energy research to replace Irene King, who retired. Horsnell was assistant director at the Oxford Institute for Energy Studies since 1992. Separately, Shannon Nome has joined JPMorgan in Houston as a large-cap E&P analyst. Nome held a similar position with Banc of America Securities.
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