Stealth Ventures Ltd.

Transaction Type
Sellers
Marketers
Basin
Cumberland
Field
Wildmere
Post Date
Close Date
Estimated Price
0MM
Description

Stealth Ventures Ltd. has retained Sayer Energy Advisors to sell all of the company's Canadian oil and natural gas assets, including its Canadian income tax pools.

The package includes a total 36,800 hectares of land (40% undeveloped), which consist of an average 90% working interest in a producing natural gas property at Wildmere west of Lloydminster, Alberta and a 100% working interest in a coalbed-methane prospect in the Cumberland Basin of Nova Scotia.

Net gas sales from Wildmere has averaged 1.7 million cubic feet of gas per day. Proved and probably reserves as of year-end 2009 were 11.4 billion cubic feet of gas.

Upside includes potential to increase production from the Colorado shale resource play at Wildmere through infill drilling and recompletions.

The bid due date is Dec. 2. Contact Alan W. Tambosso, 403-266-6133, atambosso@sayeradvisors.com.