Calgary-based Compton Petroleum Corp. (NYSE: CMZ) plans to acquire all of the outstanding shares of privately held, Calgary-based Win Energy Corp. for approximately C$24 million (US$23.3 million). The assets include 68,000 gross (53,600 net) undeveloped acres in the Cowley area on the thrusted Belly River trend in Alberta and 93,600 gross (79,000 net) acres of exploratory land on a 10-year lease in Montana; a 100% ownership of a sweet-gas plant in the Cowley area processing 10,000 cubic feet per day; and strategic proprietary interests in 55 kilometres of 2-D seismic and a new 36-square-mile 3-D seismic survey surrounding the best producing wells on the Win land. Proved plus possible reserves of existing wells only are valued at 353,000 barrels of oil equivalent per day.
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