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Current Offerings / Concourse Petroleum Inc.
Concourse Petroleum Inc.
Property DivestitureBid Deadline: October 15, 2026
12:00 PM
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OVERVIEW
Concourse Petroleum Inc. (“Concourse” or the “Company”) has engaged Sayer Energy Advisors to assist it with the sale of its oil and natural gas interests located in the Latornell area of Alberta and the Martin area of British Columbia (the “Properties”).
At Latornell, Concourse holds a 100% working interest in 43 sections of land with minimal imminent expiries until 2028. Production from Latornell is primarily from the Montney Formation.
The Latornell property was shut-in in early 2025. Prior to being shut-in, average daily sales production net to Concourse from Latornell for the year ended December 31, 2024 was approximately 118 boe/d, consisting of 84 bbl/d of oil and natural gas liquids and 204 Mcf/d of natural gas.
At Martin, Concourse holds primarily a 100% working interest in 40 spacing units of land with mineral rights in the Montney Formation. The prospective lands were acquired for Montney development with no expiries until 2029.
There is currently no production associated with the Martin property.
As of April 1, 2026, the Latornell property had a deemed liability value of $1.8 million.
At Latornell, Concourse holds a 100% working interest in 43 sections of land with minimal imminent expiries until 2028. Production from Latornell is primarily from the Montney Formation.
The Latornell property was shut-in in early 2025. Prior to being shut-in, average daily sales production net to Concourse from Latornell for the year ended December 31, 2024 was approximately 118 boe/d, consisting of 84 bbl/d of oil and natural gas liquids and 204 Mcf/d of natural gas.
At Martin, Concourse holds primarily a 100% working interest in 40 spacing units of land with mineral rights in the Montney Formation. The prospective lands were acquired for Montney development with no expiries until 2029.
There is currently no production associated with the Martin property.
As of April 1, 2026, the Latornell property had a deemed liability value of $1.8 million.
Overview Map Showing the Location of the Divestiture Property
LATORNELL
Township 62-63, Range 28 W5 - 1 W6
At Latornell, Concourse holds a 100% working interest in 43 sections of land with minimal imminent expiries until 2028. Production from Latornell is primarily from the Montney Formation.
The Latornell property was shut-in in early 2025.
Prior to being shut-in, average daily sales production net to Concourse from Latornell for the year ended December 31, 2024 was approximately 118 boe/d, consisting of 84 bbl/d of oil and natural gas liquids and 204 Mcf/d of natural gas.
At Latornell, Concourse holds a 100% working interest in 43 sections of land with minimal imminent expiries until 2028. Production from Latornell is primarily from the Montney Formation.
The Latornell property was shut-in in early 2025.
Prior to being shut-in, average daily sales production net to Concourse from Latornell for the year ended December 31, 2024 was approximately 118 boe/d, consisting of 84 bbl/d of oil and natural gas liquids and 204 Mcf/d of natural gas.
Latornell, Alberta
Gross Production Group Plot of Concourse's Oil & Natural Gas Wells
The property contains significant resource potential mainly in the light oil and condensate area as shown on the following map.
The Company’s land position is located mainly within the high pressured, light oil and condensate areas of the Montney fairway with approximately 40° API oil and no H2S.
The Company’s land position is located mainly within the high pressured, light oil and condensate areas of the Montney fairway with approximately 40° API oil and no H2S.
There is substantial water disposal infrastructure in close proximity to the Company’s lands.
The Montney play near the Latornell property has recent offsetting land activity by various operators including Logan Energy Corp., Shell Canada Limited and Whitecap Resources Inc.
Since late 2024, Logan has drilled several high-yielding wells at the bottom of the Montney Formation. Production data from several of these wells highlight the additional development potential in the area. The well Logan Hz Smoky 00/14-10-061-27W5/0 is located 9.37 km southeast of Latornell and had calendar daily initial production reaching 728 bbl/d of oil and 1.0 MMcf/d of natural gas.
It is estimated that drilling multiple wells from the same pad will reduce unit operating and transportation costs by approximately 24% from the costs seen in 2024 and 2025.
Since late 2024, Logan has drilled several high-yielding wells at the bottom of the Montney Formation. Production data from several of these wells highlight the additional development potential in the area. The well Logan Hz Smoky 00/14-10-061-27W5/0 is located 9.37 km southeast of Latornell and had calendar daily initial production reaching 728 bbl/d of oil and 1.0 MMcf/d of natural gas.
It is estimated that drilling multiple wells from the same pad will reduce unit operating and transportation costs by approximately 24% from the costs seen in 2024 and 2025.
Latornell Reserves
InSite Petroleum Consultants Ltd. (“InSite”) prepared an independent reserves evaluation of the Properties (the “InSite Report”). The InSite Report is effective June 30, 2024 using InSite’s June 30, 2024 forecast pricing.
InSite estimated that, as at June 30, 2024, the Latornell property contained remaining proved plus probable reserves of 1.3 million barrels of oil and natural gas and liquids and 2.2 Bcf of natural gas (1.7 million boe), with an estimated net present value of $7.8 million using forecast pricing at a 10% discount.
InSite Petroleum Consultants Ltd. (“InSite”) prepared an independent reserves evaluation of the Properties (the “InSite Report”). The InSite Report is effective June 30, 2024 using InSite’s June 30, 2024 forecast pricing.
InSite estimated that, as at June 30, 2024, the Latornell property contained remaining proved plus probable reserves of 1.3 million barrels of oil and natural gas and liquids and 2.2 Bcf of natural gas (1.7 million boe), with an estimated net present value of $7.8 million using forecast pricing at a 10% discount.
InSite estimated that, as at June 30, 2024, the Latornell property contained remaining proved plus probable plus possible reserves of 5.5 million barrels of oil and natural gas and liquids and 9.7 Bcf of natural gas (7.2 million boe), with an estimated net present value of $47.4 million using forecast pricing at a 10% discount.
The wells Logan has drilled since late 2024 at the bottom of the Montney Formation were drilled prior the InSite Report and these were not accounted for in InSite’s evaluation.
Latornell Seismic
Concourse does not have ownership in any seismic data at Latornell.
Latornell Facilities
At Latornell, the Company holds working interests in two facilities at 10-01-063-01W6/02 and 10-01-063-01W6/03.
Further details on the Company’s facilities are available in the virtual data room for parties that execute a confidentiality agreement.
Latornell Marketing
Concourse has a natural gas handling agreement in place with Kanata Energy Group Ltd. and an emulsion and water handling agreement in place with Logan Energy Corp. and Spartan Delta Corp.
Latornell Liability Assessment
As of April 1, 2026, the Latornell property had a deemed liability value of $1.8 million.
Latornell Well List
Click here to download the complete well list in Excel.
Latornell Seismic
Concourse does not have ownership in any seismic data at Latornell.
Latornell Facilities
At Latornell, the Company holds working interests in two facilities at 10-01-063-01W6/02 and 10-01-063-01W6/03.
Further details on the Company’s facilities are available in the virtual data room for parties that execute a confidentiality agreement.
Latornell Marketing
Concourse has a natural gas handling agreement in place with Kanata Energy Group Ltd. and an emulsion and water handling agreement in place with Logan Energy Corp. and Spartan Delta Corp.
Latornell Liability Assessment
As of April 1, 2026, the Latornell property had a deemed liability value of $1.8 million.
Latornell Well List
Click here to download the complete well list in Excel.
MARTIN, B.C.
NTS 094-H-05 - 094-H-06
At Martin, Concourse holds primarily a 100% working interest in 40 spacing units of land with mineral rights in the Montney Formation. The prospective lands were acquired for Montney development with no expiries until 2029.
There is currently no production associated with the Martin property.
Concourse has possible reserves booked for horizontal drilling locations at HZ/D-089-E/094-H-06/0 and HZ/A-076-H/094-H-06/0 with estimated costs of approximately $4.0 million to drill, complete, equip and tie-in.
At Martin, Concourse holds primarily a 100% working interest in 40 spacing units of land with mineral rights in the Montney Formation. The prospective lands were acquired for Montney development with no expiries until 2029.
There is currently no production associated with the Martin property.
Concourse has possible reserves booked for horizontal drilling locations at HZ/D-089-E/094-H-06/0 and HZ/A-076-H/094-H-06/0 with estimated costs of approximately $4.0 million to drill, complete, equip and tie-in.
The lands surrounding the Company’s interests at Martin are concentrated among leading Montney operators, including Canadian Natural Resources Limited, PETRONAS, and Tourmaline Oil Corp.
As shown in the following cross-section, the prospective Montney Formation at Martin is generally found at shallow depths of approximately 1,360 m–1,430 m with thickness of approximately 210-230 m. The Company’s land position is located on the structural high and is situated within the overpressured Montney fairway.
Martin, BC
Montney Formation Stratigraphic Cross-Section
Montney Formation Stratigraphic Cross-Section
There is extensive existing natural gas pipeline infrastructure and tie-in points surrounding the Company’s lands at Martin.
Martin Seismic
Concourse does not have ownership in any seismic data at Martin.
Martin Facilities
The Company does not have working interests in any facilities at Martin.
Martin Reserves
InSite Petroleum Consultants Ltd. (“InSite”) prepared an independent reserves evaluation of the Properties (the “InSite Report”). The InSite Report is effective June 30, 2024 using InSite’s June 30, 2024 forecast pricing.
InSite estimated that, as at June 30, 2024, the Martin property contained possible reserves of 6.5 Bcf of natural gas and 131,000 barrels of natural gas liquids (1.2 million boe), with an estimated net present value of $5.1 million using forecast pricing at a 10% discount.
Concourse does not have ownership in any seismic data at Martin.
Martin Facilities
The Company does not have working interests in any facilities at Martin.
Martin Reserves
InSite Petroleum Consultants Ltd. (“InSite”) prepared an independent reserves evaluation of the Properties (the “InSite Report”). The InSite Report is effective June 30, 2024 using InSite’s June 30, 2024 forecast pricing.
InSite estimated that, as at June 30, 2024, the Martin property contained possible reserves of 6.5 Bcf of natural gas and 131,000 barrels of natural gas liquids (1.2 million boe), with an estimated net present value of $5.1 million using forecast pricing at a 10% discount.
Martin Liability Assessment
The Company does not have ownership in any wells or facilities at Martin.
The Company does not have ownership in any wells or facilities at Martin.
PROCESS & TIMELINE
Sayer Energy Advisors is accepting cash offers to acquire the Properties until 12:00 pm on Thursday, October 15, 2026.
Sayer Energy Advisors does not typically conduct a "second-round" bidding process; the intention is to attempt to conclude a
transaction(s) with the party(ies) submitting the most acceptable proposal(s) at the conclusion of the process.
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, October 15, 2026.
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 Properties 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 technical 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 InSite Report, deemed liability information, most recent net operations summary, facility information and other relevant technical information.
Download Confidentiality Agreement
To receive further information on the Properties please contact Ben Rye, Tom Pavic or Sydney Birkett at 403.266.6133.