2009-09-21-2009-06-23-2009-08-12

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
18MM
Description

Bought company with in central AB in Crossfield, Strathmore areas, gaining 650 BOE/d.

Harvest Pegasus Inc., a subsidiary of Harvest Energy Trust, Calgary, (NYSE, Toronto: HTE) has acquired 93.5% of the shares of Pegasus Oil & Gas Inc., Calgary, and will make a compulsory purchase of the remaining shares in a total deal valued at C$18 million in stock and debt assumption. The deal values production at C$30,000 per flowing barrel, according to Harvest. Harvest issued 0.015 trust unit per Pegasus share, acquiring 32.32 million Pegasus class A shares and 917,464 Pegasus class B shares. Harvest will assume approximately C$14 million in debt. Pegasus' assets include a large presence in central Alberta in the Crossfield and Strathmore areas adjacent to existing Harvest operations. Production is approximately 650 barrels of oil equivalent per day. Pegasus values the deal at $31,100 per flowing barrel. FirstEnergy Capital Corp. was financial advisor to Pegasus.