Offering Details
Back
Under Review / Coastal Resources Limited
Coastal Resources Limited
Property DivestitureBid Deadline: March 16, 2023
12:00 PM
Download Full PDF - Printable
OVERVIEW
Coastal Resources Limited (“Coastal” or the “Company”) has engaged Sayer Energy Advisors to assist it with the sale of its non-operated working interests located in the Greater Farrow and Red Rock areas of Alberta (the “Properties”).
Preference will be given to offers to acquire all of the Properties in one transaction; however, offers may be considered for individual properties.
In the Greater Farrow area, Coastal has various non-operated working interests in the Arrowwood, Brant, Farrow, Lomond and Milo areas. The Greater Farrow area is productive from the Elkton, Glauconite, Ellerslie, Sunburst, Belly River and Medicine Hat formations.
At Red Rock, Coastal holds non-operated working interests including a 5.52470830% working interest in the Red Rock Chinook Unit No. 1 operated by TAQA North Ltd. Production at Red Rock is from the Chinook Formation.
Average daily sales production net to Coastal from the Properties for the month of October 2022 was approximately 525 Mcf/d of natural gas and 75 barrels of light oil and natural gas liquids per day (163 boe/d).
Operating income net to Coastal from the Properties for the month of October 2022 was approximately $192,000 per month, or $2.3 million on an annualized basis.
Preference will be given to offers to acquire all of the Properties in one transaction; however, offers may be considered for individual properties.
In the Greater Farrow area, Coastal has various non-operated working interests in the Arrowwood, Brant, Farrow, Lomond and Milo areas. The Greater Farrow area is productive from the Elkton, Glauconite, Ellerslie, Sunburst, Belly River and Medicine Hat formations.
At Red Rock, Coastal holds non-operated working interests including a 5.52470830% working interest in the Red Rock Chinook Unit No. 1 operated by TAQA North Ltd. Production at Red Rock is from the Chinook Formation.
Average daily sales production net to Coastal from the Properties for the month of October 2022 was approximately 525 Mcf/d of natural gas and 75 barrels of light oil and natural gas liquids per day (163 boe/d).
Operating income net to Coastal from the Properties for the month of October 2022 was approximately $192,000 per month, or $2.3 million on an annualized basis.
Overview Map Showing the Location of the Divestiture Properties
Production Overview
Average daily sales production net to Coastal from the Properties for the month of October 2022 was approximately 525 Mcf/d of natural gas and 75 barrels of oil and natural gas liquids per day (163 boe/d).
Operating income net to Coastal from the Properties for the month of October 2022 was approximately $192,000 per month, or $2.3 million on an annualized basis.
Average daily sales production net to Coastal from the Properties for the month of October 2022 was approximately 525 Mcf/d of natural gas and 75 barrels of oil and natural gas liquids per day (163 boe/d).
Operating income net to Coastal from the Properties for the month of October 2022 was approximately $192,000 per month, or $2.3 million on an annualized basis.
Reserves Overview
S&P Global (“S&P”) prepared an independent reserves evaluation of the Properties specifically for this divestiture (the “S&P Report”). The S&P Report is effective January 1, 2023 using Sproule Associates Limited’s October 31, 2022 forecast pricing.
S&P estimated that, as of January 1, 2023, the Properties contained remaining proved plus probable reserves of 197,000 barrels of oil and natural gas liquids and 866 MMcf of natural gas
(341,000 boe), with an estimated net present value of $7.0 million using forecast pricing at a 10% discount.
S&P Global (“S&P”) prepared an independent reserves evaluation of the Properties specifically for this divestiture (the “S&P Report”). The S&P Report is effective January 1, 2023 using Sproule Associates Limited’s October 31, 2022 forecast pricing.
S&P estimated that, as of January 1, 2023, the Properties contained remaining proved plus probable reserves of 197,000 barrels of oil and natural gas liquids and 866 MMcf of natural gas
(341,000 boe), with an estimated net present value of $7.0 million using forecast pricing at a 10% discount.
LMR Summary
Coastal does not operate any wells or facilities associated with the Properties. Asset retirement obligation (“ARO”) numbers have been incorporated into the S&P Report. Further details on the Company’s ARO will be made available in the virtual data room for parties that execute a confidentiality agreement.
Coastal does not operate any wells or facilities associated with the Properties. Asset retirement obligation (“ARO”) numbers have been incorporated into the S&P Report. Further details on the Company’s ARO will be made available in the virtual data room for parties that execute a confidentiality agreement.
GREATER FARROW AREA
Township 18-21, Range 23-27 W4
In the Greater Farrow area, Coastal has various non-operated working interests in the Arrowwood, Brant, Farrow, Lomond and Milo areas. The Greater Farrow area is productive from the Elkton, Glauconite, Ellerslie, Sunburst, Belly River and Medicine Hat formations.
At Farrow, the TAQA operated horizontal Glauconitic Sandstone well at 102/02-10-019-24W4/03 was drilled in early 2022, and was brought on production in June 2022.
In the Greater Farrow area, Coastal has various non-operated working interests in the Arrowwood, Brant, Farrow, Lomond and Milo areas. The Greater Farrow area is productive from the Elkton, Glauconite, Ellerslie, Sunburst, Belly River and Medicine Hat formations.
At Farrow, the TAQA operated horizontal Glauconitic Sandstone well at 102/02-10-019-24W4/03 was drilled in early 2022, and was brought on production in June 2022.
Average daily sales production net to Coastal from the Greater Farrow area for the month of October 2022 was approximately 442 Mcf/d of natural gas and 67 barrels of oil and natural gas liquids per day (141 boe/d).
Operating income net to Coastal from the Greater Farrow area for the month of October 2022 was approximately $172,400 per month, or $2.1 million on an annualized basis.
Operating income net to Coastal from the Greater Farrow area for the month of October 2022 was approximately $172,400 per month, or $2.1 million on an annualized basis.
Greater Farrow Area, Alberta
Gross Production Group Plot of Coastal's Oil & Natural Gas Wells
The Company has mapped the Glauconitic Channel trends on its lands in the Greater Farrow area, as shown on the following map.
Greater Farrow Seismic
In the Greater Farrow Area, Coastal has an interest in various 2D and 3D seismic data as shown on the following plat. The Company’s interpretations of the seismic are available for viewing in the data room located in the Sayer office, by parties which have executed a confidentiality agreement.
In the Greater Farrow Area, Coastal has an interest in various 2D and 3D seismic data as shown on the following plat. The Company’s interpretations of the seismic are available for viewing in the data room located in the Sayer office, by parties which have executed a confidentiality agreement.
Greater Farrow, Alberta
Seismic Coverage
Seismic Coverage
Greater Farrow Marketing
Coastal takes the majority of its production in kind and markets through a third party.
Greater Farrow Reserves
S&P Global (“S&P”) prepared an independent reserves evaluation of the Properties specifically for this divestiture (the “S&P Report”). The S&P Report is effective January 1, 2023 using Sproule Associates Limited’s October 31, 2022 forecast pricing.
S&P estimated that, as of January 1, 2023, the Greater Farrow area contained remaining proved plus probable reserves of 167,000 barrels of oil and natural gas liquids and 628 MMcf of natural gas (271,000 boe), with an estimated net present value of $5.9 million using forecast pricing at a 10% discount.
Coastal takes the majority of its production in kind and markets through a third party.
Greater Farrow Reserves
S&P Global (“S&P”) prepared an independent reserves evaluation of the Properties specifically for this divestiture (the “S&P Report”). The S&P Report is effective January 1, 2023 using Sproule Associates Limited’s October 31, 2022 forecast pricing.
S&P estimated that, as of January 1, 2023, the Greater Farrow area contained remaining proved plus probable reserves of 167,000 barrels of oil and natural gas liquids and 628 MMcf of natural gas (271,000 boe), with an estimated net present value of $5.9 million using forecast pricing at a 10% discount.
Greater Farrow LMR
The Company does not operate any wells or facilities associated with the Properties. ARO numbers have been incorporated into the S&P Report. Further details on the Company’s ARO will be made available in the virtual data room for parties that execute a confidentiality agreement.
Greater Farrow Well List
Click here to download the complete well list in Excel.
The Company does not operate any wells or facilities associated with the Properties. ARO numbers have been incorporated into the S&P Report. Further details on the Company’s ARO will be made available in the virtual data room for parties that execute a confidentiality agreement.
Greater Farrow Well List
Click here to download the complete well list in Excel.
FARROW
Township 19-21, Range 24-25 W4
At Farrow, Coastal holds various non-operated working interests in 31 sections of land. Coastal’s production at Farrow is operated primarily by TAQA.
Average daily sales production net to Coastal from Farrow for the month of October 2022 was approximately 416 Mcf/d of natural gas and 66 barrels of oil and natural gas liquids per day (136 boe/d).
Operating income net to Coastal from Farrow for the month of October 2022 was approximately $173,000 per month, or $2.1 million on an annualized basis.
At Farrow, the Company has been assigned in the S&P Report two high working interest proven undeveloped horizontal drilling locations at 100/07-10-019-24W4/00 and 100/16-04-019-24W4/00. The 100/07-10 location is surveyed with surface lease built, surface equipment installed and only requires a short on-lease tie-in. Several follow-up step out locations may result from these drills. The Company has also identified an unbooked horizontal drilling location further north in the channel fairway that would requires pooling, and a number of suspended well reactivations.
Additionally, three reactivations at Farrow were recognized in the S&P Report.
At Farrow, Coastal holds various non-operated working interests in 31 sections of land. Coastal’s production at Farrow is operated primarily by TAQA.
Average daily sales production net to Coastal from Farrow for the month of October 2022 was approximately 416 Mcf/d of natural gas and 66 barrels of oil and natural gas liquids per day (136 boe/d).
Operating income net to Coastal from Farrow for the month of October 2022 was approximately $173,000 per month, or $2.1 million on an annualized basis.
At Farrow, the Company has been assigned in the S&P Report two high working interest proven undeveloped horizontal drilling locations at 100/07-10-019-24W4/00 and 100/16-04-019-24W4/00. The 100/07-10 location is surveyed with surface lease built, surface equipment installed and only requires a short on-lease tie-in. Several follow-up step out locations may result from these drills. The Company has also identified an unbooked horizontal drilling location further north in the channel fairway that would requires pooling, and a number of suspended well reactivations.
Additionally, three reactivations at Farrow were recognized in the S&P Report.
Farrow, Alberta
Gross Production Group Plot of Coastal's Oil & Natural Gas Wells
At Farrow, the TAQA operated horizontal Glauconite well at 102/02-10-019-24W4/03 was drilled in early 2022, and was brought on production in June 2022.
The decrease in production from September to October 2022 at Farrow is due to a combination of some downtime from the horizontal well at 102/02-10-019-24W4/03 along with initial base declines.
Farrow Facilities
The Company holds working interests in the natural gas gathering system as well as the Farrow Gas Plant at 06-31-020-24W4. The plant produces sales natural gas to the ATCO pipeline system and natural gas liquids are trucked to a sales terminal. Coastal has excess capacity at the 06-31 gas plant for future production volumes.
Farrow Reserves
S&P Global (“S&P”) prepared an independent reserves evaluation of the Properties specifically for this divestiture (the “S&P Report”). The S&P Report is effective January 1, 2023 using Sproule Associates Limited’s October 31, 2022 forecast pricing.
S&P estimated that, as of January 1, 2023, the Farrow property contained remaining proved plus probable reserves of 164,000 barrels of oil and natural gas liquids and 607 MMcf of natural gas (266,000 boe), with an estimated net present value of $5.8 million using forecast pricing at a 10% discount.
The decrease in production from September to October 2022 at Farrow is due to a combination of some downtime from the horizontal well at 102/02-10-019-24W4/03 along with initial base declines.
Farrow Facilities
The Company holds working interests in the natural gas gathering system as well as the Farrow Gas Plant at 06-31-020-24W4. The plant produces sales natural gas to the ATCO pipeline system and natural gas liquids are trucked to a sales terminal. Coastal has excess capacity at the 06-31 gas plant for future production volumes.
Farrow Reserves
S&P Global (“S&P”) prepared an independent reserves evaluation of the Properties specifically for this divestiture (the “S&P Report”). The S&P Report is effective January 1, 2023 using Sproule Associates Limited’s October 31, 2022 forecast pricing.
S&P estimated that, as of January 1, 2023, the Farrow property contained remaining proved plus probable reserves of 164,000 barrels of oil and natural gas liquids and 607 MMcf of natural gas (266,000 boe), with an estimated net present value of $5.8 million using forecast pricing at a 10% discount.
Farrow LMR
The Company does not operate any wells or facilities associated with the Properties. ARO numbers have been incorporated into the S&P Report. Further details on the Company’s ARO will be made available in the virtual data room for parties that execute a confidentiality agreement.
Farrow Well List
Click here to download the complete well list in Excel.
The Company does not operate any wells or facilities associated with the Properties. ARO numbers have been incorporated into the S&P Report. Further details on the Company’s ARO will be made available in the virtual data room for parties that execute a confidentiality agreement.
Farrow Well List
Click here to download the complete well list in Excel.
BRANT
Township 18-19, Range 25-26 W4
At Brant, Coastal holds various non-operated working interests in 17.25 sections of land. Coastal’s production at Brant is operated primarily by TAQA.
Average daily sales production net to Coastal from Brant for the month of October 2022 was approximately 17 Mcf/d of natural gas (three boe/d).
Operating income net to Coastal from Brant for the month of October 2022 was approximately ($1,100) per month, or ($13,000) on an annualized basis.
At Brant, Coastal holds various non-operated working interests in 17.25 sections of land. Coastal’s production at Brant is operated primarily by TAQA.
Average daily sales production net to Coastal from Brant for the month of October 2022 was approximately 17 Mcf/d of natural gas (three boe/d).
Operating income net to Coastal from Brant for the month of October 2022 was approximately ($1,100) per month, or ($13,000) on an annualized basis.
Brant, Alberta
Gross Production Group Plot of Coastal's Oil & Natural Gas Wells
Brant Facilities
The Company does not have an interest in any facilities at Brant.
Brant LMR
The Company does not have an interest in any facilities at Brant.
Brant LMR
The Company does not operate any wells or facilities associated with the Properties. Further details on the Company’s ARO will be made available in the virtual data room for parties that execute a confidentiality agreement
Brant Well List
Click here to download the complete well list in Excel.
ARROWWOOD
Township 19-21, Range 25-26 W4
Coastal holds various non-operated working interests in 11.75 sections of land at Arrowwood including a 1.91% working interest in the Herronton Turner Valley Unit No. 1 operated by Journey Energy Inc., which is comprised of two producing natural gas wells.
Average daily sales production net to Coastal from Arrowwood for the month of October 2022 was approximately seven Mcf/d of natural gas and one barrel of oil per day (two boe/d).
Operating income net to Coastal from Arrowwood for the month of October 2022 was approximately $1,500 per month, or $18,000 on an annualized basis.
Coastal holds various non-operated working interests in 11.75 sections of land at Arrowwood including a 1.91% working interest in the Herronton Turner Valley Unit No. 1 operated by Journey Energy Inc., which is comprised of two producing natural gas wells.
Average daily sales production net to Coastal from Arrowwood for the month of October 2022 was approximately seven Mcf/d of natural gas and one barrel of oil per day (two boe/d).
Operating income net to Coastal from Arrowwood for the month of October 2022 was approximately $1,500 per month, or $18,000 on an annualized basis.
Arrowwood, Alberta
Gross Production Group Plot of Coastal's Oil & Natural Gas Wells
Arrowwood Facilities
The Company does not have an interest in any facilities at Arrowwood.
Arrowwood Reserves
S&P Global (“S&P”) prepared an independent reserves evaluation of the Properties specifically for this divestiture (the “S&P Report”). The S&P Report is effective January 1, 2023 using Sproule Associates Limited’s October 31, 2022 forecast pricing.
S&P estimated that, as of January 1, 2023, the Arrowwood property contained remaining proved plus probable reserves of 21 MMcf of natural gas and 1,000 barrels of oil and natural gas liquids (5,000 boe), with an estimated net present value of $63,000 using forecast pricing at a 10% discount.
The Company does not have an interest in any facilities at Arrowwood.
Arrowwood Reserves
S&P Global (“S&P”) prepared an independent reserves evaluation of the Properties specifically for this divestiture (the “S&P Report”). The S&P Report is effective January 1, 2023 using Sproule Associates Limited’s October 31, 2022 forecast pricing.
S&P estimated that, as of January 1, 2023, the Arrowwood property contained remaining proved plus probable reserves of 21 MMcf of natural gas and 1,000 barrels of oil and natural gas liquids (5,000 boe), with an estimated net present value of $63,000 using forecast pricing at a 10% discount.
Arrowwood LMR
The Company does not operate any wells or facilities associated with the Properties. ARO numbers have been incorporated into the S&P Report. Further details on the Company’s ARO will be made available in the virtual data room for parties that execute a confidentiality agreement.
Arrowwood Well List
Click here to download the complete well list in Excel.
MILO
Township 18-19, Range 23-24 W4
At Milo, Coastal holds a 40% working interest in three sections of land on which there are four wells operated by Canadian Natural Resources Limited and TAQA.
Average daily sales production net to Coastal from Milo for the month of October 2022 was approximately two Mcf/d of natural gas.
Operating income net to Coastal from Milo for the month of October 2022 was approximately ($700) per month, or ($8,400) on an annualized basis.
At Milo, Coastal holds a 40% working interest in three sections of land on which there are four wells operated by Canadian Natural Resources Limited and TAQA.
Average daily sales production net to Coastal from Milo for the month of October 2022 was approximately two Mcf/d of natural gas.
Operating income net to Coastal from Milo for the month of October 2022 was approximately ($700) per month, or ($8,400) on an annualized basis.
Milo, Alberta
Gross Production Group Plot of Coastal's Oil & Natural Gas Wells
Milo Facilities
The Company does not have an interest in any facilities at Milo.
The Company does not have an interest in any facilities at Milo.
Milo LMR
The Company does not operate any wells or facilities associated with the Properties. Further details on the Company’s ARO will be made available in the virtual data room for parties that execute a confidentiality agreement.
Milo Well List
Click here to download the complete well list in Excel.
The Company does not operate any wells or facilities associated with the Properties. Further details on the Company’s ARO will be made available in the virtual data room for parties that execute a confidentiality agreement.
Milo Well List
Click here to download the complete well list in Excel.
LOMOND
Township 18, Range 23 W4
At Lomond, Coastal holds a 10% working interest in one section of land on which there is one suspended well operated by TAQA.
At Lomond, Coastal holds a 10% working interest in one section of land on which there is one suspended well operated by TAQA.
Lomond Facilities
The Company does not have an interest in any facilities at Lomond.
Lomond LMR
The Company does not operate any wells or facilities associated with the Properties. Further details on the Company’s ARO will be made available in the virtual data room for parties that execute a confidentiality agreement.
Lomond Well List
Click here to download the complete well list in Excel.
The Company does not operate any wells or facilities associated with the Properties. Further details on the Company’s ARO will be made available in the virtual data room for parties that execute a confidentiality agreement.
Lomond Well List
Click here to download the complete well list in Excel.
RED ROCK
Township 63, Range 7-8 W6
At Red Rock, Coastal holds non-operated working interests including a 5.52470830% working interest in the Red Rock Chinook Unit No. 1 operated by TAQA. Production at Red Rock is from the Chinook Formation.
Average daily sales production net to Coastal from Red Rock for the month of October 2022 was approximately 83 Mcf/d of natural gas and eight barrels of oil and natural gas liquids per day (22 boe/d).
Operating income net to Coastal from Red Rock for the month of October 2022 was approximately $19,300 per month, or $232,000 on an annualized basis.
At Red Rock, the Company has been assigned in the S&P Report a proven undeveloped horizontal drilling location at 103/15-24-063-08W6/00. The Company has also identified two unbooked horizontal drilling locations at 100/11-27-063-08W6/00 and 102/12-27-063-08W6/00 which require pooling.
At Red Rock, Coastal holds non-operated working interests including a 5.52470830% working interest in the Red Rock Chinook Unit No. 1 operated by TAQA. Production at Red Rock is from the Chinook Formation.
Average daily sales production net to Coastal from Red Rock for the month of October 2022 was approximately 83 Mcf/d of natural gas and eight barrels of oil and natural gas liquids per day (22 boe/d).
Operating income net to Coastal from Red Rock for the month of October 2022 was approximately $19,300 per month, or $232,000 on an annualized basis.
At Red Rock, the Company has been assigned in the S&P Report a proven undeveloped horizontal drilling location at 103/15-24-063-08W6/00. The Company has also identified two unbooked horizontal drilling locations at 100/11-27-063-08W6/00 and 102/12-27-063-08W6/00 which require pooling.
Red Rock, Alberta
Gross Production Group Plot of Coastal's Oil & Natural Gas Wells
Red Rock Seismic
Coastal does not have ownership in any seismic data at Red Rock.
Red Rock Marketing
Coastal takes the majority of its production in kind and markets through a third party.
Red Rock Facilities
The Company has a 5.52470830% working interest in the Red Rock Chinook Unit #1 oil battery and compression facility at 16-14-63-08W6. The natural gas is compressed for processing and is pipeline connected to medium pressure for processing. Oil sales is pumped by LACT unit facility at the Unit battery through a Unit oil pipeline to Pembina Pipeline’s main line at 05-27-062-07W6 location.
Red Rock Reserves
S&P Global (“S&P”) prepared an independent reserves evaluation of the Properties specifically for this divestiture (the “S&P Report”). The S&P Report is effective January 1, 2023 using Sproule Associates Limited’s October 31, 2022 forecast pricing.
S&P estimated that, as of January 1, 2023, the Red Rock property contained remaining proved plus probable reserves of 238 MMcf of natural gas and 30,000 barrels of oil and natural gas liquids (70,000 boe), with an estimated net present value of $1.1 million using forecast pricing at a 10% discount.
Coastal does not have ownership in any seismic data at Red Rock.
Red Rock Marketing
Coastal takes the majority of its production in kind and markets through a third party.
Red Rock Facilities
The Company has a 5.52470830% working interest in the Red Rock Chinook Unit #1 oil battery and compression facility at 16-14-63-08W6. The natural gas is compressed for processing and is pipeline connected to medium pressure for processing. Oil sales is pumped by LACT unit facility at the Unit battery through a Unit oil pipeline to Pembina Pipeline’s main line at 05-27-062-07W6 location.
Red Rock Reserves
S&P Global (“S&P”) prepared an independent reserves evaluation of the Properties specifically for this divestiture (the “S&P Report”). The S&P Report is effective January 1, 2023 using Sproule Associates Limited’s October 31, 2022 forecast pricing.
S&P estimated that, as of January 1, 2023, the Red Rock property contained remaining proved plus probable reserves of 238 MMcf of natural gas and 30,000 barrels of oil and natural gas liquids (70,000 boe), with an estimated net present value of $1.1 million using forecast pricing at a 10% discount.
Red Rock LMR
The Company does not operate any wells or facilities associated with the Properties. ARO numbers have been incorporated into the S&P Report. Further details on the Company’s ARO will be made available in the virtual data room for parties that execute a confidentiality agreement.
Red Rock Well List
Click here to download the complete well list in Excel.
The Company does not operate any wells or facilities associated with the Properties. ARO numbers have been incorporated into the S&P Report. Further details on the Company’s ARO will be made available in the virtual data room for parties that execute a confidentiality agreement.
Red Rock Well List
Click here to download the complete well list in Excel.
PROCESS & TIMELINE
Sayer Energy Advisors is accepting offers to acquire the Properties until 12:00 pm on Thursday March16, 2023.
Sayer Energy Advisors does not 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 offers from interested parties until
noon on Thursday March 16, 2023.
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: detailed land information, ARO information, the S&P Report, most recent net operations summary and other relevant technical information.
Download Confidentiality Agreement
To receive further information on the Properties please contact Ben Rye, Tom Pavic or Grazina Palmer at 403.266.6133.