Sonde Resources To Buy Alberta Mineral Interests

To acquire 10,367-acre block of producing & nonproducing assets at Drumheller in AB targeing Manneville "I" pool, gaining 110 BOE/d.

Sonde Resources Corp., Calgary, (Toronto, Amex: SOQ) plans to acquire a block of producing and nonproducing assets at Drumheller in Alberta from an undisclosed third party for C$6.3 million in cash.

The assets includes 10,367 net acres of mineral interests with the bulk of producing interests in the Mannville "I" oil pool and adjacent nonproducing leases and suspended wells.

Production is approximately 110 barrels of oil equivalent per day of production.

Sonde chief operating officer Bill Dirks says, “This acquisition is an important milestone in our program to consolidate assets and increase production and reserves in the Drumheller area After closing, Sonde will own approximately 99% of the aggregate working interests in the Mannville "I" pool.”

The deal is expected to close Sept. 22.