2011-03-11-2011-03-10-2011-03-10

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
5MM
Description

Acquired all of Stetson's Canadian properties including assets in AB & SK, gaining 170 BOE/d.

Stetson Oil & Gas Ltd. (Toronto Venture: SSN) has sold all of its active Canadian oil and gas properties for total consideration of $5 million.

As part of a strategic review process to refocus the company on near term, high impact international opportunities, Stetson engaged Sayer Energy Advisors to act as financial advisor to assist in identifying potential purchasers and marketing the properties.=

The assets consisted of oil and gas assets in Alberta and Saskatchewan currently producing approximately 170 barrels of oil equivalent per day.

The proceeds of the sale will provide Stetson with funds to investigate, assess and pursue the acquisition of international oil and gas exploration and production opportunities on a go forward basis, which the company believes will provide opportunities to enhance shareholder value.