Offering Details
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Current Offerings / Teine Energy Ltd.
Teine Energy Ltd.
Property DivestitureBid Deadline: October 30, 2025
12:00 PM
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OVERVIEW
Teine Energy Ltd. (“Teine” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of certain non-core oil and natural gas interests located in the Senlac area of Saskatchewan (the “Property”). Teine holds an average working interest of over 92% in the entire Property, which consists of approximately 32.5 sections of Crown land including P&NG rights in the Mannville Group. Teine is selling the Property in order to focus its operations on its core areas.
Average daily production net to Teine from the Property for the first half of 2025 was approximately 65 boe/d, consisting of 55 barrels of oil and natural gas liquids per day and 58 Mcf/d of natural gas.
Operating income net to Teine from the Property for the first half of 2025 was approximately $38,000 per month, or $460,000 on an annualized basis.
As of September 17, 2025, the Property had a deemed net asset value of $546,786 (deemed assets of $3.4 million and deemed liabilities of $2.9 million), with an LMR ratio of 1.19.
Average daily production net to Teine from the Property for the first half of 2025 was approximately 65 boe/d, consisting of 55 barrels of oil and natural gas liquids per day and 58 Mcf/d of natural gas.
Operating income net to Teine from the Property for the first half of 2025 was approximately $38,000 per month, or $460,000 on an annualized basis.
As of September 17, 2025, the Property had a deemed net asset value of $546,786 (deemed assets of $3.4 million and deemed liabilities of $2.9 million), with an LMR ratio of 1.19.
Overview Map Showing the Location of the Divestiture Property
SENLAC
Township 38-40, Range 23-28 W3
Teine holds an average working interest of over 92% in the entire Property, which consists of approximately 32.5 sections of Crown land including P&NG rights in the Mannville Group. Production from Senlac is primarily oil from the Birdbear Formation at 100% working interest, and minor natural gas production from the Mannville Group.
Average daily production net to Teine from the Property for the first half of 2025 was approximately 65 boe/d, consisting of 55 barrels of oil and natural gas liquids per day and 58 Mcf/d of natural gas.
Operating income net to Teine from the Property for the first half of 2025 was approximately $38,000 per month, or $460,000 on an annualized basis.
Teine holds an average working interest of over 92% in the entire Property, which consists of approximately 32.5 sections of Crown land including P&NG rights in the Mannville Group. Production from Senlac is primarily oil from the Birdbear Formation at 100% working interest, and minor natural gas production from the Mannville Group.
Average daily production net to Teine from the Property for the first half of 2025 was approximately 65 boe/d, consisting of 55 barrels of oil and natural gas liquids per day and 58 Mcf/d of natural gas.
Operating income net to Teine from the Property for the first half of 2025 was approximately $38,000 per month, or $460,000 on an annualized basis.
Senlac, Saskatchewan
Gross Production Group Plot
Birdbear Formation
The southern portion of the Property has been developed with multi-leg horizontal wells drilled in the Birdbear Formation. The Company believes there is further development potential with infill drilling opportunities and the potential for enhanced oil recovery in the Birdbear Formation.
The southern portion of the Property has been developed with multi-leg horizontal wells drilled in the Birdbear Formation. The Company believes there is further development potential with infill drilling opportunities and the potential for enhanced oil recovery in the Birdbear Formation.
The Property is offset by several Birdbear pools which have been exploited through horizontal drilling. Current offset operators include Dark Eye Energy Inc. and Next Oil & Gas Inc.
121/07-01-039-26W3/02
Birdbear Formation Type Log
Birdbear Formation Type Log
Mannville Group
The Company has several vertical natural gas wells which were drilled into various targets within the Mannville Group on the Property. There is potential for further Mannville development on the remaining acreage.
Offsetting the Property, Canadian Natural Resources Limited has developed Mannville pools mainly in the Senlac Cummings Dina and Ulysses Energy Corp. in the Sparky LL pool.
The Company has several vertical natural gas wells which were drilled into various targets within the Mannville Group on the Property. There is potential for further Mannville development on the remaining acreage.
Offsetting the Property, Canadian Natural Resources Limited has developed Mannville pools mainly in the Senlac Cummings Dina and Ulysses Energy Corp. in the Sparky LL pool.
101/14-03-040-26W3/0
Mannville Group Type Log
Mannville Group Type Log
Senlac Seismic
The Company has proprietary ownership in certain 2D and 3D seismic data relating to the Property as shown on the following map. Further details of the Company’s data will be available in the virtual data room for parties that execute a confidentiality agreement.
The Company has proprietary ownership in certain 2D and 3D seismic data relating to the Property as shown on the following map. Further details of the Company’s data will be available in the virtual data room for parties that execute a confidentiality agreement.
Senlac Facilities
Teine has ownership in multi-well batteries located at 16-20-038-24W3, 08-07-039-25W3, 02-01-039-26W3, 07-01-039-26W3 and a water injection/disposal well at 03-07-038-24W3.
Senlac Marketing
The Company’s oil from Senlac is produced to single-well batteries and trucked directly to terminal. Natural gas at 141/09-02-040-26W3 and 121/07-36-039-26W3 supplies fuel gas to the pads. All other natural gas flows south to a compressor located at 09-33-035-26W3 and on to Teine infrastructure.
Senlac Reserves
Teine prepared a reserves evaluation of the Property which has been verified by a third party (the “Reserve Report”). The Reserve Report is effective December 31, 2024 using an average of GLJ Ltd., McDaniel & Associates Consultants Ltd. and Sproule ERCE’s forecast pricing as at December 31, 2024.
The Company estimates that, as at December 31, 2024, the Property contained remaining proved plus probable reserves of 65,000 barrels of oil and natural gas liquids and 24 MMcf of natural gas (69,000 boe), with an estimated net present value of $1.8 million using forecast pricing at a 10% discount.
Teine has ownership in multi-well batteries located at 16-20-038-24W3, 08-07-039-25W3, 02-01-039-26W3, 07-01-039-26W3 and a water injection/disposal well at 03-07-038-24W3.
Senlac Marketing
The Company’s oil from Senlac is produced to single-well batteries and trucked directly to terminal. Natural gas at 141/09-02-040-26W3 and 121/07-36-039-26W3 supplies fuel gas to the pads. All other natural gas flows south to a compressor located at 09-33-035-26W3 and on to Teine infrastructure.
Senlac Reserves
Teine prepared a reserves evaluation of the Property which has been verified by a third party (the “Reserve Report”). The Reserve Report is effective December 31, 2024 using an average of GLJ Ltd., McDaniel & Associates Consultants Ltd. and Sproule ERCE’s forecast pricing as at December 31, 2024.
The Company estimates that, as at December 31, 2024, the Property contained remaining proved plus probable reserves of 65,000 barrels of oil and natural gas liquids and 24 MMcf of natural gas (69,000 boe), with an estimated net present value of $1.8 million using forecast pricing at a 10% discount.
Senlac Liability Assessment as of September 17, 2025
As of September 17, 2025, the Property had a deemed net asset value of $546,786 (deemed assets of $3.4 million and deemed liabilities of $2.9 million), with an LMR ratio of 1.19.
As of September 17, 2025, the Property had a deemed net asset value of $546,786 (deemed assets of $3.4 million and deemed liabilities of $2.9 million), with an LMR ratio of 1.19.
Senlac Well List
Click here to download the complete well list in Excel.
Click here to download the complete well list in Excel.
PROCESS & TIMELINE
Sayer Energy Advisors is accepting cash offers to acquire the Property until 12:00 pm on Thursday October 30, 2025.
Sayer Energy Advisors does not conduct a "second-round" bidding process; the intention is to attempt to conclude a
transaction with the party submitting the most acceptable proposal at the conclusion of the process.
transaction with the party submitting the most acceptable proposal at the conclusion of the process.
Sayer Energy Advisors is accepting cash offers from interested parties until
noon on Thursday October 30, 2025.
NOTE REGARDING A SAYER PROCESS
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.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.
CONFIDENTIALITY AGREEMENT
Parties wishing to receive access to the confidential information with detailed information relating to this opportunity should execute the Confidentiality Agreement and return one copy to Sayer Energy Advisors by courier, email (brye@sayeradvisors.com) or fax (403.266.4467).
Included in the confidential information is the following: summary land information, the Reserve Report, LMR information, most recent net operations summary and other relevant technical information.
Download Confidentiality Agreement
To receive further information on the Property please contact Ben Rye, Tom Pavic or Sydney Birkett at 403.266.6133.