Offering Details
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Current Offerings / New North Resources Ltd.
New North Resources Ltd.
Property DivestitureBid Deadline: November 6, 2025
12:00 PM
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OVERVIEW
New North Resources Ltd. (“New North” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of its non-core oil and natural gas interests located in the Deer Mountain area of Alberta (the “Property”). The Property consists of the Company’s non-operated 3.2% working interest in the Deer Mountain Unit No. 2.
Average daily production net to New North from the Property for the quarter ended June 30, 2025 was approximately 36 boe/d, consisting of 35 barrels of oil and natural gas liquids per day and 3 Mcf/d of natural gas.
Operating income net to New North from the Property for the quarter ended June 30, 2025 was approximately $35,800 per month or $430,000 on an annualized basis.
Average daily production net to New North from the Property for the quarter ended June 30, 2025 was approximately 36 boe/d, consisting of 35 barrels of oil and natural gas liquids per day and 3 Mcf/d of natural gas.
Operating income net to New North from the Property for the quarter ended June 30, 2025 was approximately $35,800 per month or $430,000 on an annualized basis.
Overview Map Showing the Location of the Divestiture Property
DEER MOUNTAIN
Township 68, Range 8-9 W5
The Property consists of New North’s non-operated 3.2% working interest in the Deer Mountain Unit No. 2. operated by Aspenleaf Energy Limited. Production from the unit consists mainly of oil from the commingled Beaverhill Lake A, B Pool. The Unit is currently under water injection.
Average daily production net to New North from the Property for the quarter ended June 30, 2025 was approximately 36 boe/d, consisting of 35 barrels of oil and natural gas liquids per day and 3 Mcf/d of natural gas.
Operating income net to New North from the Property for the quarter ended June 30, 2025 was approximately $35,800 per month or $430,000 on an annualized basis.
The Property consists of New North’s non-operated 3.2% working interest in the Deer Mountain Unit No. 2. operated by Aspenleaf Energy Limited. Production from the unit consists mainly of oil from the commingled Beaverhill Lake A, B Pool. The Unit is currently under water injection.
Average daily production net to New North from the Property for the quarter ended June 30, 2025 was approximately 36 boe/d, consisting of 35 barrels of oil and natural gas liquids per day and 3 Mcf/d of natural gas.
Operating income net to New North from the Property for the quarter ended June 30, 2025 was approximately $35,800 per month or $430,000 on an annualized basis.
(New North WI: 3.2%. The 4.0% WI stated includes 0.8% interest which has
been conveyed but has not been updated in the public record).
Deer Mountain Unit No. 2
Gross Production Group Plot
Deer Mountain Seismic
The Company does not have ownership in any seismic data relating to the Property.
Deer Mountain Facilities
The Company does not operate in any facilities at Deer Mountain.
Deer Mountain Reserves
Trimble Engineering Associates Ltd. (“Trimble”) prepared an independent reserves evaluation of the Property (the “Trimble Report”) specifically for this divestiture. The Trimble Report is effective September 30, 2025 using Trimble’s July 1, 2025 forecast pricing.
Trimble estimates that, as at September 30, 2025, the Deer Mountain property will have remaining proved plus probable reserves of 174,000 barrels of oil and natural gas liquids and 17 MMcf of natural gas (177,000 boe), with an estimated net present value of $3.0 million using forecast pricing at a 10% discount.
The Company does not have ownership in any seismic data relating to the Property.
Deer Mountain Facilities
The Company does not operate in any facilities at Deer Mountain.
Deer Mountain Reserves
Trimble Engineering Associates Ltd. (“Trimble”) prepared an independent reserves evaluation of the Property (the “Trimble Report”) specifically for this divestiture. The Trimble Report is effective September 30, 2025 using Trimble’s July 1, 2025 forecast pricing.
Trimble estimates that, as at September 30, 2025, the Deer Mountain property will have remaining proved plus probable reserves of 174,000 barrels of oil and natural gas liquids and 17 MMcf of natural gas (177,000 boe), with an estimated net present value of $3.0 million using forecast pricing at a 10% discount.
Deer Mountain Liability Assessment
The Company does not operate any wells or facilities at Deer Mountain.
Deer Mountain Well List
Click here to download the complete well list in Excel.
The Company does not operate any wells or facilities at Deer Mountain.
Deer Mountain Well List
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 November 6, 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 November 6, 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 Trimble Report, 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.