2009-08-17-2008-07-01

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Estimated Price
0MM
Description

To purchase co.

BrazAlta Resources Corp., Calgary, (Toronto Venture: BRX) plans to acquire privately held Albertan company Canacol Energy Inc. for an undisclosed price. Canacol operates in South America with agreements to purchase production and exploration assets in Colombia and onshore Guyana. Pro forma, the combined company will have 1.4 million net proved plus probable reserves and 200 barrels of oil per day of production in Brazil; an agreement for a 700-barrel-per-day operated asset in Colombia; and a revenue stream of $7.11 per barrels per day. Also included is a 51% operated interest in an exploration contract in the Middle Magdallena Basin and a farm-in for 10,000-square-kilometer appraisal and exploration asset with 65% working interest potential onshore Guyana. FirstEnergy Capital Corp. is advisor to BrazAlta.