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CALGARY, ALBERTA--(Marketwire - Nov. 2, 2010) - KDC Energy Ltd. ("KDC" or the "Corporation") is pleased to announce that it closed an oil and gas asset acquisition in the Carmangay area of Alberta on November 1, 2010. The assets include 12.5 sections of land (2.6 net), 36 gross producing wells (7.4 net), 1 gross standing well (0.17 net) and 5 gross (1.5 net) water source and/or injection wells. The purchase price was $6.4 million with current production of approximately 80 boe/d, 95% weighted to oil. |
