2009-06-12-2008-11-01-2008-11-01

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
2MM
Description

To purchase co. with 53 gross (26.3 net) wells on 12,386 net acres, gaining 48 BOE/d, 1,400 net bbls oil, 692.4 MMcfg proved.

Calgary-based Cumberland Oil & Gas Ltd. plans to acquire Costa Resources Ltd. from Costa Energy Inc., Calgary, (Toronto Venture: COE) for C$1.8 million. Costa Resources holds Costa's E&P assets, which include 53 gross (26.3 net) wells on 21,104 gross acres (12,386 net) in Alberta, Saskatchewan and British Columbia. Production as of June 30 was approximately 0.3 barrels of oil and 287,000 cubic feet of gas or a total 48 barrels of oil equivalent per day. Proved reserves as of Dec. 31 were 1,400 net barrels of oil and 692.4 million cubic feet of gas, and proved and probable reserves were 1,600 barrels and 914.6 million cubic feet of gas.