Canetic Resources Trust, Calgary, (Toronto: CNE-UN; NYSE: CNE) plans to acquire Titan Exploration Ltd., Calgary, (Toronto: TTN-A) for C$98.5 million in stock and C$17.5 million in assumed debt in a total deal valued at C$116 million. Titan's assets include a 70% average working interest on more than 49,000 gross acres (23,700 net) in the Leitchville area of southwestern Saskatchewan, near Canetic's assets in the Lower Shaunavon trend, and additional land in the Peace River Arch area of northern Alberta and British Columbia. The assets include approximately 300 gross (243 net) drilling locations. Production is more than 1,800 barrels equivalent per day (63% oil). Proved and probable reserves are 7.3 million barrels equivalent.
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