Offering Details
Back
Current Offerings / TOP Oil Production Ltd.
TOP Oil Production Ltd.
Property DivestitureBid Deadline: November 12, 2026
12:00 PM
Download Full PDF - Printable
OVERVIEW
TOP Oil Production Ltd. (“TOP Oil” or the “Company”) has engaged Sayer Energy Advisors to assist with the sale of its non-core oil and natural gas interests located in the Lloydminster area of Alberta (the “Property”).
Current production net to TOP Oil from the Property is estimated to be approximately 53 bbl/d of heavy oil as the Company has recently restarted three wells at Lloydminster, which are producing an additional 22 bbl/d of heavy oil.
Average daily production net to the Company from the Property for the 12 months ended June 30, 2026 was approximately 31 bbl/d of heavy oil.
Operating income net to the Company from the Property for the 12 months ended June 30, 2026 was approximately $2,560 per month or $30,700 on an annualized basis.
Current production net to TOP Oil from the Property is estimated to be approximately 53 bbl/d of heavy oil as the Company has recently restarted three wells at Lloydminster, which are producing an additional 22 bbl/d of heavy oil.
Average daily production net to the Company from the Property for the 12 months ended June 30, 2026 was approximately 31 bbl/d of heavy oil.
Operating income net to the Company from the Property for the 12 months ended June 30, 2026 was approximately $2,560 per month or $30,700 on an annualized basis.
Overview Map Showing the Location of the Divestiture Property
LLOYDMINSTER
Township 51-52, Range 4-5 W4
At Lloydminster, the Company holds a 100% working interest in 1.75 sections of land. Production from the Property is from three wells TOP Oil Morgan 104/04-05-052-04W4, TOP Oil Morgan 104/15-05-052-04W4 and TOP Oil Morgan 105/04-05-052-04W4 which are commingled from the Sparky, Rex, Lloydminster and Dina formations of the Mannville Group.
Current production net to TOP Oil from the Property is estimated to be approximately 53 bbl/d of heavy oil. The Company has recently restarted the following three wells 102/04-05-052-04W4, 100/13-05-052-04W4, and 100/14-05-052-04W4 which are producing an additional 22 bbl/d of heavy oil.
Average daily production net to the Company from the Property for the 12 months ended June 30, 2026 was approximately 31 bbl/d of heavy oil.
Operating income net to the Company from the Property for the 12 months ended June 30, 2026 was approximately $2,560 per month or $30,700 on an annualized basis.
The Company has a 100% working interest in the disposal well 100/13-06-052-04W4 which has disposed of approximately 120 m3/day of water over the last year. The well has a high-end capability to dispose of 400 m3/day of water. It is currently taking third-party water from several companies in the area.
At Lloydminster, the Company holds a 100% working interest in 1.75 sections of land. Production from the Property is from three wells TOP Oil Morgan 104/04-05-052-04W4, TOP Oil Morgan 104/15-05-052-04W4 and TOP Oil Morgan 105/04-05-052-04W4 which are commingled from the Sparky, Rex, Lloydminster and Dina formations of the Mannville Group.
Current production net to TOP Oil from the Property is estimated to be approximately 53 bbl/d of heavy oil. The Company has recently restarted the following three wells 102/04-05-052-04W4, 100/13-05-052-04W4, and 100/14-05-052-04W4 which are producing an additional 22 bbl/d of heavy oil.
Average daily production net to the Company from the Property for the 12 months ended June 30, 2026 was approximately 31 bbl/d of heavy oil.
Operating income net to the Company from the Property for the 12 months ended June 30, 2026 was approximately $2,560 per month or $30,700 on an annualized basis.
The Company has a 100% working interest in the disposal well 100/13-06-052-04W4 which has disposed of approximately 120 m3/day of water over the last year. The well has a high-end capability to dispose of 400 m3/day of water. It is currently taking third-party water from several companies in the area.
Lloydminster, Alberta
Gross Production Group Plot of TOP Oil's Oil Wells
The Company has recently restarted the following three wells TOP Oil Morgan 102/04-05-052-04W4, TOP Oil Morgan 100/13-05-052-04W4 and TOP Oil Morgan 100/14-05-052-04W4 which are currently producing 22 bbl/d of heavy oil.
Significant potential remains for multi-zone Mannville stack development utilizing multilateral drilling technology across the Property.
The Company’s lands are offset by recent Crown land acquisitions by Croverro Energy Ltd. and Taylor Hill Land Inc. for between $165.58-$605.00/ha as outlined in the plat below.
Significant potential remains for multi-zone Mannville stack development utilizing multilateral drilling technology across the Property.
The Company’s lands are offset by recent Crown land acquisitions by Croverro Energy Ltd. and Taylor Hill Land Inc. for between $165.58-$605.00/ha as outlined in the plat below.
Lloydminster Seismic
The Company does not have ownership in any seismic data relating to the Property.
Lloydminster Marketing
The Company trucks its heavy oil production to BLACKFOOT N #2 OB 13-30-050-01W4 where it is sold to Cenovus Energy Inc.
Lloydminster Facilities
At Lloydminster, the Company has a 100% working interest in the following facilities:
The Company does not have ownership in any seismic data relating to the Property.
Lloydminster Marketing
The Company trucks its heavy oil production to BLACKFOOT N #2 OB 13-30-050-01W4 where it is sold to Cenovus Energy Inc.
Lloydminster Facilities
At Lloydminster, the Company has a 100% working interest in the following facilities:
The Company has a 100% working interest in the disposal well located at 100/13-06-052-04W4 which has disposed of approximately 120 m3/day of water over the last year. The well has a high-end capability to dispose of 400 m3/day of water. It is currently taking third party water from several companies in the area.
Further details on the Company’s facilities are available in the virtual data room for parties that execute a confidentiality agreement.
Lloydminster Reserves
The Company does not have a third-party reserve report relating to the Property.
Lloydminster Liability Assessment
As at October 1, 2026, the Property had deemed liabilities of approximately $3.0 million.
Lloydminster Well List
Click here to download the complete well list in Excel.
Further details on the Company’s facilities are available in the virtual data room for parties that execute a confidentiality agreement.
Lloydminster Reserves
The Company does not have a third-party reserve report relating to the Property.
Lloydminster Liability Assessment
As at October 1, 2026, the Property had deemed liabilities of approximately $3.0 million.
Lloydminster 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 12, 2026.
Sayer Energy Advisors does not typically 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 proposals from interested parties until
noon on Thursday, November 12, 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 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, 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.