2009-08-11-2008-04-01-2008-04-01

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
106MM
Description

Acquired co., gaining large oil pool with low recovery factor, 100% WI in 25 additional net sections of Bakken-prone acreage.

TriStar Oil & Gas Ltd., Calgary, (Toronto: TOG) has acquired privately held Kinwest Corp. for approximately C$105.8 million in stock including the assumption of C$12.5 million of net debt. Kinwest assets are primarily in southeastern Saskatchewan where approximately half of the production originates from a large, operated oil pool with a low recovery factor to date. TriStar also gains an additional 25 net sections (100% working interest) of Bakken-prone acreage. TriStar has identified 97 net Bakken drilling locations on the acquired acreage based on four wells per section. In total, TriStar has identified 151 drilling locations (126 net).