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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Result Energy | TSXV:RTE | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
PetroBakken Energy Ltd. ("PetroBakken") (TSX:PBN), a 58% owned subsidiary of Petrobank Energy and Resources Ltd. (TSX:PBG), and Result Energy Inc. ("Result") (TSX VENTURE:RTE) are pleased to announce the closing today of the acquisition of Result by PetroBakken. The acquisition was completed by way of plan of arrangement with 99.43% of Result shares voted approving the acquisition of Result by PetroBakken. PetroBakken acquired all of the outstanding shares of Result for total consideration of approximately $438 million, inclusive of Result's positive working capital. Result shareholders received $200 million in cash and 11.2 million PetroBakken shares. It is expected that the shares of Result will be de-listed from the TSX Venture Exchange at the close of business on Tuesday, April 6, 2010. PetroBakken Energy Ltd. is a premier light oil production company combining, high growth, long-life Bakken reserves and production with legacy conventional light oil assets, delivering industry leading operating netbacks, strong cash flows and production growth. PetroBakken has a multi-year inventory of Bakken and light oil development locations, along with significant future development opportunities in the Horn River and Montney gas resource plays in northeast BC and the Cardium in Alberta. Our strategy is to deliver accretive production and reserves growth, along with an attractive dividend yield.
1 Year Result Energy Chart |
1 Month Result Energy Chart |
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