Convega Energy Ltd. has retained Western Divestments Inc. to divest a 100% operated working interest in its Cessford, property located approximately 200 km from Calgary and 57 km from Brooks, in southern Alberta in T25-R11 W4M. The property consists of 1280 acres of land with P&NG from surface to base Mannville excl. NG in the Colorado. There are five producing wells on the property currently producing 12 bbl/day oil, 2 bbl/day C5+ and 260 mcf/day gas, two observation wells and one injection well.
The LLR asset value is $1,019,158.13 with an LLR liability of $686,478.00. Property LLR ratio is 1.49 as of June 2, 2018. The gas well was down for four months over the winter due to pipeline freeze up. These numbers will improve significantly in July.
The bid deadline for this offering is Thursday, August 9th by 4 pm.
If you would like to obtain additional information and book a data room to review well files, kindly contact Moya Little. Moya can be reached at 403-543-4080 office, or 403-519-8351 cell.