Offering Details


Properties   /   Richelhoff Resources Inc.

Richelhoff Resources Inc.

Property Divestiture
Bid Deadline: March 19, 2020 12:00 PM
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Township 36-37, Range 25-26 W3

Richelhoff Resources Inc. (“Richelhoff” or the “Company”) has engaged the services of Sayer Energy Advisors to assist it with the sale of its 100% working interest heavy oil property in the Salvador area of Saskatchewan (the “Property”).  Richelhoff is selling the Property in order to focus its efforts on its core properties in other areas.


Richelhoff’s vertical Mannville (Sparky and Waseca Formation) heavy oil wells currently produce approximately 30-40 barrels of 13° API (980 kg/m3) heavy oil per day.  Other local operators have recently been successfully developing the Sparky Formation with horizontal wells.  There is potential to similarly develop the Sparky Formation with horizontal wells on Richelhoff’s 100% working interest lands.

Salvador, Saskatchewan
Group Plot of Richelhoff's Heavy Oil Wells

Salvador Seismic

Richelhoff does not have any trade or proprietary seismic over its lands at Salvador.

Salvador Operations & Facilities

All of Richelhoff’s wells at Salvador produce to single well batteries.  Oil is sold to Teine Energy Ltd. on a contract that is terminable on 30 days notice.
The Property’s minor volumes of solution gas are pipelined and connected to Richelhoff’s group separator at 11-32-036-25W3 where it is used within the operation.
Produced water is trucked to a local Richelhoff facility at 05-13-038-26W3.  This facility is not part of this divestiture; however, Richelhoff will accept water for disposal for a fee of $3.00/m3
The Company’s net operating income from the high-netback Property was approximately $418,000 in 2019.

Salvador Reserves

The Company does not have an independent evaluation of the Property’s reserves.

Salvador LMR as of February 12, 2020


Salvador Well List


Sayer Energy Advisors is accepting cash offers to acquire the Property until 12:00 pm on Thursday March 19, 2020.

Sayer Energy Advisors does not conduct a "second-round" bidding process; the intention is to attempt to conclude
transaction(s) with the party(ies) submitting the most acceptable proposal(s) at the conclusion of the process.

Sayer Energy Advisors is accepting cash offers from interested parties until
noon on Thursday March 19, 2020.


On each and every offering brochure generated by Sayer, you will note the sentence “Sayer Energy Advisors does not conduct a “second-round” bidding process; the intention is to attempt to conclude a sale of the Property with the party submitting the most acceptable proposal at the conclusion of the process.”  What this means is that Sayer will not go back to multiple parties at the same time after bids are received, asking them all for a second bid.  We determine which party submitted the most acceptable proposal and then we attempt to negotiate acceptable terms with that party in a “one-off” situation.

If the process involves a cash sale of a property or company and the party which submitted the most acceptable proposal has met our client’s threshold value, that offer will be accepted.  If this proposal does not meet our client’s threshold value, then we will advise that party that the offer is not quite what our client was expecting, and we will ask them to increase the offer.  If that offer is not acceptable to our client, we will then move down to the party which submitted the next most acceptable proposal and we will then work with that party to attempt to meet our client’s threshold value.

In the extremely rare circumstance where two or more parties submit virtually identical proposals, we will contact all  parties, we will advise them of this situation and we will ask them to submit a revised proposal.  Once these are received, we will work with the party which has submitted the most acceptable proposal.


Parties wishing to receive a confidential information Binder with detailed technical information relating to this opportunity should execute the Confidentiality Agreement and return one copy to Sayer Energy Advisors by courier, email ( or fax (403.266.4467).
Included in the confidential information binder is the following:  summary land information, most recent net operations summary and other relevant technical information.
Download Confidentiality Agreement
To schedule a time to visit the Data Room which is situated at Sayer's office, please contact Ben Rye, Grazina Palmer or Tom Pavic at 403.266.6133.