2010-03-10-2010-09-29-2010-11-10

Acquired 2.3 MMBOE proved, 2,100 BOE/d in Alberta.

Crocotta Energy Inc., Calgary, (Toronto: CTA) has closed the sale of certain assets in west-central Alberta to an undisclosed buyer for C$30 million.

The deal includes C$28 million in cash and C$2 million in drilling credits and warrants.

The assets are in the Pembina, Niton and Chip Lake areas. Production is approximately 2,100 barrels of oil equivalent per day (66% gas). Proved and probable reserves as of year-end 2009 were 2.3 million barrels equivalent.

Crocotta now has production of approximately 2,000 barrels equivalent per day (65% gas) and net debt of approximately $27 million. The company has also established a $55-million revolving demand loan credit facility following the deal.