2010-09-15-2010-09-10-2010-09-10

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

To buy 202 sections covering 129,280 acres in the southern Alberta Blood Tribe Reserve.

Murphy Oil Co. Ltd., a subsidiary of Murphy Oil Corp., El Dorado, Ark., (NYSE: MUR) plans to acquire 202 sections (129,280 acres) of prospective oil and gas properties in southern Alberta from Kainaiwa Resources Inc., which is owned by the Blood Tribe First Nation.

The sections are in the Blood Tribe Reserve and the lease agreement gives Murphy drilling rights on the property for five years with a minimum of 16 wells to be drilled during this time.

Murphy president and chief executive David Wood says, "We are very pleased to add a fourth resource play in North America to complement our existing acreage in Seal Lake, Montney and Eagle Ford. The Blood First Nation's lands add further to our growing position in the Exshaw/Bakken play of Southern Alberta where we are targeting its oil potential."