2011-04-29-2011-04-14-2011-04-14

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
48MM
Description

Bought company with assets in SK, gaining 450 BOE/d, 1.6 MMBOE 2P.

Renegade Petroleum Ltd., Calgary, (Toronto Venture: RPL) has acquired Petro Uno Resources Ltd., Calgary, (Toronto Venture: PUP) for C$48.3 million in stock.

The deal values Petro Uno's production at C$98,820 per producing barrels of oil equivalent and proved and probable reserves at C$27.52 per barrel equivalent.

Renegade paid approximately 11.8 million shares to Petro Uno shareholders. The shares were valued at C$4.09 each on April 14.

Petro Uno's assets at inwest-central Saskatchewan in proximity to Renegade's Viking play. The assets feature 6,300 net undeveloped acres and features 56 net drilling locations.

Production is 450 barrels of oil equivalent per day (97% oil). Proved and probable reserves as of Dec. 31 were 1.6 million barrels equivalent.

GMP Securities LPwas financial advisor to Renegade and Genuity Corp. and FirstEnergy Capital Corp. were strategic advisors. Macquarie Capital Markets Canada Ltd. was financial advisor to Petro Uno.