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CALGARY, ALBERTA--(Marketwired - March 31, 2017) - Clearview Resources Ltd. ("Clearview") is pleased to announce that it has closed an acquisition of assets in the Pembina area of Alberta for $20,100,001 with an effective date of December 1, 2016. The acquisition adds material production, reserves and development drilling locations in one of Clearview's core areas. Pursuant to the asset acquisition Clearview acquired approximately 1,120 boepd (370 bbls/d oil & liquids and 4.5 mmcf/d gas) of operated production, estimated reserves of 2,660 mboe proved producing (RLI=6.5) and 3,350 mboe proved plus probable producing (RLI=8.6) and a large undeveloped, concentrated land base (approximately 51 gross sections (35 net) in an active area for Glauconite, Rock Creek and Ellerslie potential). |
