Bellamont ostee öljyä ja rahoituspaketteja

BELLAMONT EXPLORATION LTD. ANNOUNCES PEACE RIVER ARCH CORE AREALIGHT OIL ACQUISITION, A $10 MILLION BOUGHT DEAL FINANCING AND A $2 MILLION PRIVATE PLACEMENT FINANCING

"The Acquisition assets are located in the central area of the Peace River Arch adjacent to the Corporation’s Sinclair and Saddle Hills properties. Current production from the properties is approximately 210 boe/d; comprised of 164 bbl/d of high quality light gravity (40° API) oil and 279 mcf/d of natural gas, 80% of which is operated. The purchase price for the assets is $17,150,000, comprised of $14,000,000 in cash and 5,080,000 Bellamont Class A shares issued to the vendor, Storm Exploration Ltd., at a deemed price of
$0.62 per share. The Agreement is effective November 1, 2009 and is expected to close on or before December 1, 2009. Highlights of the Acquisition are as follows:
• Accretive on all key metrics;
• Estimated proved plus probable reserves of approximately 1,156,000 boe (1), 90% of which is light
gravity oil producing from the Doe Creek Formation;
• Excellent netback, estimated to be $38.48/boe , based on US$75.00 /bbl WTI (CDN $80.54 Edm)
and US$4.00/mmbtu Nymex (CDN$3.69 AECO);
• Acquisition cost of $14.83/boe (proved plus probable);
• 2.6 recycle ratio;
• Stable, predictable low decline production;
• Long life reserves (15.2 year RLI);
• Ownership in oil and gas processing facilities including a company operated battery that treats
75% of the acquired production volumes;
• Near term drilling opportunities;
• Long term waterflood upside, with potential to double the acquired reserves over time."