2009-09-21-2009-08-11

Transaction Type
Announce Date
Post Date
Estimated Price
1MM
Description

To acquire 2,560 acres Conrad area, AB, gaining 350 Mcfg/d.

West Isle Energy Inc., Calgary, (CNSX: WEI) plans to acquire Alberta assets from Eagle Rock Exploration Ltd., Calgary, (Toronto Venture: ERX) for C$1.225 million. The assets include 2,560 acres of Alberta crown leases in the Conrad area of southern Alberta. Production is approximately 350,000 cubic feet of gas per day. Eagle Rock will use the proceeds to pay bank debt. Pro forma, Eagle Rock will have production of 425 barrels of oil and liquids and 150,000 cubic feet of gas per day. The deal was expected to close in August.