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CALGARY , May 14, 2012 /CNW/ - Bowood Energy Inc. ("Bowood") (BWD.V) and Legacy Oil + Gas Inc. ("Legacy") (LEG.TO) are pleased to announce that they have entered into an agreement (the "Agreement") providing for: (i) the sale of Legacy's southern Alberta assets, excluding assets in the greater Turner Valley area, to Bowood (the "Asset Purchase"); (ii) the appointment of a new management team (the "New Management") and certain new directors of Bowood; (iii) a non-brokered private placement of units of Bowood (the "Private Placement"), and (iv) a rights offering to the Bowood shareholders (the "Rights Offering").
Asset Purchase
The Asset Purchase will consist of the sale of 68,581 net acres of Legacy's undeveloped land in southern Alberta, excluding assets in the greater Turner Valley area, to Bowood for 200,000,000 common shares of Bowood ("Bowood Shares"). The Asset Purchase includes the Bowood/Legacy joint venture land, including the Big Valley oil wells drilled at Kipp and Spring Coulee. The current Legacy farmin agreement with Bowood will be terminated upon closing of the transaction. Following the completion of the Asset Purchase, the Private Placement and the Rights Offering, Legacy will own approximately 37% of the outstanding Bowood Shares.
New Management
The current officers of Bowood will resign and the New Management will be appointed immediately following the completion of the Asset Purchase. The New Management will consist of Trent Yanko as President and Chief Executive Officer and Matt Janisch as Vice-President, Finance and Chief Financial Officer, each of whom will retain their current positions with Legacy. Mark Franko will be appointed Corporate Secretary.
The board of directors of Bowood will be reconstituted following completion of the Asset Purchase to be comprised of Trent Yanko as Chairman, James Pasieka, Chris Bloomer , Jim Welykochy and Neil Roszell. Chris Bloomer and Jim Welykochy are currently directors of Bowood.
The New Management has a solid track record of creating value in high-growth, junior oil and natural gas companies. Trent Yanko has over 23 years of experience in the founding, technical management and leadership of a number of private and public oil and natural gas companies. Mr. Yanko is currently President and Chief Executive Officer of Legacy, which has grown production from 500 Boe per day to more than 16,300 Boe per day in less than three years. Mr. Yanko was previously President and Chief Executive Officer of Mission Oil & Gas Inc., which grew from 500 Boe per day to more than 7,000 Boe per day in two years, primarily due to its success in the Bakken light oil resource play in southeast Saskatchewan. Before Mission, Mr. Yanko was Vice-President, Production of StarPoint Energy Ltd., helping grow production from 250 Boe per day to 9,000 Boe per day in 13 months.
Matt Janisch is currently Vice President, Finance and Chief Financial Officer of Legacy and has over 25 years of oil and natural gas and financial experience and was previously Executive Vice-President and Chief Financial Officer of Bow Valley Energy Ltd., an international oil and gas producer, and has 12 years of investment banking and equity research experience with BMO Capital Markets.
Mark Franko is a partner with the Calgary office of Heenan Blaikie LLP. He has practiced securities law since 1998 with a focus on mergers and acquisitions and private and public financings in the oil and natural gas sector. Mr. Franko is the Corporate Secretary of Legacy.
James Pasieka is a partner with the Calgary office of Heenan Blaikie LLP. He has extensive experience in structuring and negotiating transactions for capital projects, joint ventures, corporate financings, and mergers, acquisitions, and divestitures. Currently, Mr. Pasieka practices in all segments of the energy sector; in general corporate/commercial law; and in corporate finance, including early-stage and venture capital financing and mergers, acquisitions, and takeovers. He also has broad experience in Alberta's electricity sector. Mr. Pasieka is an officer and director of a number of public energy companies, including Legacy.
Chris Bloomer currently serves as Senior Vice-President and Chief Operating Officer of the Heavy Oil Business Unit as well as a Director of Petrobank Energy and Resources Ltd. Previously, he also held the position of CFO. Mr. Bloomer has been at Petrobank since 2002. Mr. Bloomer is also a director of Calmena Energy Services.
James Welykochy is a Professional Geologist with over 29 years experience in the oil and natural gas industry including over ten years experience in the energy capital markets. He is now a self-employed financial consultant to the oil and natural gas industry capital markets. Prior thereto, Mr. Welykochy served as Vice President, Corporate Development and Director of Ryland Oil Corporation from August 2008 until the sale of Ryland to Crescent Point Energy in August, 2010. Prior to joining Ryland, Mr. Welykochy served as Vice President of institutional sales for PI Financial Corp from February 2007 to August 2008 . Prior thereto Mr. Welykochy was an oil and natural gas research analyst with Genuity Capital Markets from January 2006 to February 2007 .
Neil Roszell is a Professional Engineer with over 20 years of experience in the oil and gas industry. Mr. Roszell is currently the President and Chief Executive Officer of Raging River Exploration, a junior oil and gas company trading on TSXV. Previously, Mr. Roszell has acted as a founder of four oil and natural gas companies and was instrumental in the growth of these junior companies from inception to their ultimate sale. Mr. Roszell was President and CEO of Wild Stream Exploration and Wild River Resources, President and COO of Prairie Schooner Petroleum and Vice President of Engineering of Great Northern Exploration.
Bowood Strategic Rationale and Corporate Strategy
The combination of assets with the experienced Legacy team creates a high impact, light oil exploration focused junior with a dominant operated position and leverage to the emerging southern Alberta Bakken play, that is well positioned to emerge as a larger, stronger and balanced producer with the following attributes:
155,974 net acres of undeveloped land in the over-pressured oil window in the Alberta Bakken fairway, including a contiguous 60,512 net acre block on the Blood Tribe Reserve
Multi-zone potential
Production of approximately 500 Boe per day
Proven management team with a track record of value creation in junior companies
Well financed, improved access to capital
Access to the leading technical capabilities of a much larger company
Bowood will be managed by Legacy's current management team and staff, under the terms of a Services Agreement, in exchange for a monthly fee. All key Legacy technical, land, accounting and field staff involved with the play since inception will continue to work the area. Legacy and Bowood have also agreed to an Area of Exclusion in which Bowood will have first priority over Legacy to pursue any potential acquisition transaction. The Area of Exclusion covers all of southern Alberta south of Twp. 27, excluding an area around Legacy's Turner Valley field.
In addition to the two successful wells drilled to-date by Legacy and Bowood, recent disclosure by competitors in the play has underscored the potential of the southern Alberta Bakken play to become a significant multi-zone light oil resource play. New Management believes as a focused, pure play company, Bowood is well positioned to benefit from continued industry success while further delineating the potential of its significant undeveloped land base.
New Management will also pursue a consolidation strategy within Bowood's core operating area of southern Alberta, increasing exposure to additional high impact light oil resource plays while also focusing on opportunities that build an inventory of oil development drilling locations complementary to the oil resource play exploration program.
Legacy Strategic Rationale
The Agreement consolidates Legacy's interest and control in the emerging southern Alberta Bakken light oil resource play. Through the Agreement, Legacy will maintain its exposure to the upside of this multi-zone play without the promoted drilling obligations under the Bowood/Legacy farmout agreement.
Legacy's interest in the southern Alberta Bakken play is considerably undervalued at Legacy's current market valuation. The Agreement creates the potential for Legacy shareholders to unlock and realize significant incremental value not currently reflected in Legacy's share price, through the ownership of the shares in a new pure play, high impact, light oil exploration company.
Legacy's technical, land, accounting and field operations team will continue to manage and operate the play, bringing continuity to the future operations on a cost-effective basis through the fees received from the Services Agreement.
Private Placement
Pursuant to the Private Placement, Bowood will issue up to 20,833,333 units ("Units") at a price of $0.12 per Unit (Bowood's closing price on May 11, 2012 ) for gross proceeds of up to $2.5 million to subscribers designated by Legacy. Each Unit will be comprised of one Bowood Share issued on a flow-through basis pursuant to the Income Tax Act (Canada ) and one share purchase warrant ("Warrant") entitling the holder to purchase one Bowood Share at a price of $0.18 for a period of five years. The Warrants will vest and become exercisable as to one-third upon the 20 day weighted average trading price of the Bowood Shares ("Market Price") equaling or exceeding $0.20 , an additional one-third upon the Market Price equaling or exceeding $0.25 and a final one-third upon the Market Price equaling or exceeding $0.30 .
The Units issued under the Private Placement will be issued to the New Management and other prospective service providers of Bowood and will be subject to contractual escrow with one-third of such Units released each six months following the closing date of the Private Placement. The proceeds of the Private Placement will be used to pay down debt and for general corporate purposes.
Rights Offering
The Rights Offering will be conducted by Bowood by way of a rights offering circular pursuant to which holders of Bowood Shares as at the record date for the Rights Offering (the "Record Date") will, in respect of each Bowood Share held, be issued one right. Each ten rights will entitle the holder to purchase one Bowood Share at an exercise price, subject to regulatory approval, of $0.12 , being equal to the price of the Units to be issued under the Private Placement. Legacy and subscribers for Units pursuant to the Private Placement will not be entitled to participate in the Rights Offering with respect to any securities acquired under the Private Placement. The Rights Offering is subject to applicable regulatory approval, including the approval of the TSXV. Maximum gross proceeds under the rights offering will be $3.3 million .
The Agreement
The Agreement is an asset purchase and sale and investment agreement dated May 13 , 2012. The Agreement contains a number of customary representations, warranties and conditions and provides for a mutual non-completion fee of $1,500,000 payable in certain circumstances. The Agreement will be filed on SEDAR by Bowood and will be accessible under Bowood's profile at www.sedar.com.
Shareholder and Stock Exchange Approvals
The completion of the matters provided for under the Agreement is subject to a number of conditions and approvals, including, but not limited to, the approval of the TSXV. The completion of the Asset Purchase and the Private Placement would result in the creation of a control person under the policies of the TSXV and, accordingly, must be approved by the shareholders of Bowood. The required disinterested shareholder approval may be obtained by Bowood either by receipt of written consents from holders of more than 50 percent of the issued and outstanding voting shares of Bowood (the "Written Consent") or by approval of an ordinary resolution passed at a meeting of the shareholders.
Pursuant to the Agreement, Bowood has agreed to use its best commercially reasonable efforts to obtain the Written Consent on or before May 31 , 2012. In the event that the Written Consent is not obtained on or before May 31, 2012 , Bowood has agreed to convene and hold a meeting of its shareholders on or before July 31, 2012 for the purposes of approving the Asset Purchase and the Private Placement.
It is anticipated that the shareholders of Bowood will be asked to approve a change of Bowood's name to LGX Oil + Gas Inc. and a consolidation of the Bowood Shares on a twenty for one basis at the next meeting of shareholders.
Closing
Provided that all of the conditions to close in the Agreement are satisfied or waived, it is anticipated that closing will occur by no later than June 1, 2012 in the event that the Written Consent is received or July 16, 2012 in the event that Bowood is required to convene a meeting of its shareholders.
Financial Advisors
GMP Securities L.P is acting as financial advisor to Bowood with respect to the matters provided for in the Agreement. GMP Securities L.P. has provided the board of directors of Bowood with an opinion that the consideration to be received by Bowood through the transaction is fair, from a financial point of view, to shareholders of Bowood. Haywood Securities Inc. is acting as strategic advisor to Bowood with respect to the Agreement.
Macquarie Capital Markets Canada Ltd. and FirstEnergy Capital Corp. are acting as co-financial advisors and National Bank Financial Inc. is acting as strategic advisor to Legacy with respect to the Agreement.
Board of Directors Recommendation
The board of directors of Bowood has determined that the transactions contemplated by the Agreement are in the best interests of its shareholders and has unanimously approved such transactions and recommends that the shareholders approve the Asset Purchase and Private Placement and execute the Written Consent. Any shareholder of Bowood wishing to obtain and execute the Written Consent should contact Bowood as set out below.
Each of the directors and officers of Bowood who, in the aggregate, control approximately 4.7% of the Bowood Shares, have entered into support agreements pursuant to which they have agreed, among other things, to approve the Asset Purchase and Private Placement.
Note Regarding Forward Looking Statements
This document contains forward-looking statements. More particularly, this document contains statements concerning the completion of the matters contemplated by the Agreement.
The forward-looking statements are based on certain key expectations and assumptions made by Legacy and Bowood, including expectations and assumptions concerning timing of receipt of required shareholder and regulatory approvals and third party consents and the satisfaction of other conditions to the completion of the matters contemplated by the Agreement.
Although Legacy and Bowood believe that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Legacy and Bowood can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks that required shareholder, regulatory and third party approvals and consents are not obtained on terms satisfactory to the parties within the timelines provided for in the Agreement and risks that other conditions to the completion of the transactions are not satisfied on the timelines set forth in the Agreement or at all.
The forward-looking statements contained in this press release are made as of the date hereof and neither Legacy nor Bowood undertakes any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Update on the Spring Coulee and Kipp well expected this week.
ROAOF (BWD.V) Bowood Energy. .2513
November, 28th, 2011
During the third and the fourth quarter to date, Bowood concluded the drilling and completing of the company's Spring Coulee and Kipp wells, and management is encouraged by the early results from these exploration wells. The Spring Coulee well was recently placed on production, while the Kipp well is currently shut in awaiting production equipment. Bowood anticipates releasing comprehensive results for both wells within the next few days.
IMPORTANT: 2 TICKER SYMBOLS FOR BOWOOD ENERGY. 1 Canadian. 1 American.
For all intents and purposes, I am using ROAOF's parent ticker, which is Canadian, BWD.V, to chart because of accuracy. ROAOF is a mirror of BWD's PPS, minus currency rates, but does not reflect statistics due to fact its mainly a Canadian company and the majority of trading occurs on the Canadian side of things. Trading this way saves us, on the American side, the fees associated with trading a Canadian stock. :)
Candlestick chart BWD.V 6 month
'A word from Michelle Gahagan, managing director of Intrepid Financial.'
Michelle Gahagan Article
Michelle Gahagan is managing director of resource exploration project investment specialist Intrepid Financial. A firm fixture gracing the boards of numerous resource houses, she has been a driving force behind a host of companies including Suparna Gold Corp., Bowood Energy Inc, RPT Resources Ltd, Cellstop Systems Inc and EShippers Management Ltd. Since 1986, Gahagan has practised corporate law out of Vancouver, Canada. She is a Queens University Law School graduate and a member of the Canadian Bar Association.
NG: Let’s look at how your career path led to working in the extractive industries. Was this something you focused on during study, and where was your initial interest sparked?
Michelle Gahagan (“MG”): I’d practiced corporate law for a long time (20 years). For the last 15 years of that, everything I did focused on corporate finance and I spent a long time doing this in the film and television business. At first blush, it sounds like the two industries couldn’t be more different but in fact, they are quite similar. At the exploration end of the mining continuum, it’s all about getting ready, financially and technically, for a concentrated effort to prove up a resource. A lot of money is needed, finding a suitable structure can be complicated and the money gets spent in a short period of time. Precisely the same as film production.
I got into this area after spending some time talking to our founding partner about my skill set and how that might fit with what his group needed. This early stage work is exciting, very entrepreneurial. It suits me down to the ground. I help out where I’m needed—overseeing our investments by sitting on boards, or getting more actively involved in the day-to-day operational elements, as I’m doing with Suparna in Suriname.
NG: I read that Intrepid Financial has been instrumental in raising more than US$850 million in equity financing for private and public companies, from start-ups to those with market caps of over $400 million. Perhaps with this in mind, you can tell us a bit about the ‘Intrepid Approach,’ and any notable successes that demonstrate the team’s capabilities?
MG: At Intrepid we incubate natural resource companies; there are approximately 12 companies in the stable at various stages of development. They are either very early exploration such as Suparna Gold in Suriname, or near production such as American Bonanza in the U.S. The Intrepid model is simple and effective. The due diligence we do and the significant investment at the private stage reduces the non-geological risk at the front end. If we are satisfied that the play could be of interest, we will then list the company on the TSX, and introduce the company’s proposition to investors in both Canada and Europe. We stay with the company through to a liquidity event, even though our own shareholding will necessarily be diluted over time. We will have a seat on the board to maintain oversight. Our interests are aligned with the less actively involved shareholders. We’re all in this together. If it becomes necessary to refocus or redirect a company we’ll work with management and other shareholders in a proactive way to do that.
NG: In working around an investment profile of $3 million to $10 million, filling board seats and proffering plenty of vital expertise, I read that you cover the entire natural resources market, including gold of course. I wonder if there are any observations you might make, given the breadth of industry catered to, in terms of board make-up when it comes to seeing more women captaining resource houses.
MG: There are certainly opportunities for women to sit on boards of resource companies. More companies are interested in considering qualified women than ever before. More than 50 per cent of the membership of WIM (UK) is in the service sector side of mining such as legal, accounting, economic, financial, marketing and HR—these are all vital skill sets when it comes to board positions. It’s best if you can find someone to mentor you; I find that men are quite happy to have women colleagues once you’re in the room. The key is to find that person who encourages you to come and take a seat at the table. Keep your eyes open for those people. There are more of them than you think.
NG: Can you give us a snapshot of your current role?
MG: My week is enormously varied. From travelling thousands of miles a month to trek into the centre of Suriname for Suparna Gold Corp, to board meetings in Calgary and Vancouver, no day is ever the same. With Suparna, I’ve taken a very hands-on role. At Intrepid, we feel very encouraged about the potential in the country and as such I’ve warned my partners that I’d be a bit of a micromanager at the beginning. We want to ensure that we get all of the right people in place, get the right relationships in-country and ensure that communication with the shareholders is both timely and insightful. My board memberships are obviously not as granular—with companies such as Arpetrol and Bowood Energy, it’s really about encouraging management to provide the board with the right information to be an effective board member. Intrepid board representatives insist on staying close enough to the action that initiatives and guidance can be implemented in a timely fashion.
NG: Let’s also look at how you became involved in WIM UK and what the community offers to members stemming from your area of expertise?
MG: I’m a fairly recent member and was encouraged to get involved as a result of a colleague’s participation in the organisation. I found that she’d made some very useful business contacts as a result. Networking is possibly the most important element of the organisation. The events are also very useful; especially those that focus on political risk and governance. That assists us in making our assessments—at Intrepid we consider projects in so many diverse countries. My involvement is also a function of my age; having been a lawyer working pretty much exclusively in male-dominated industries for 25 years, I feel like if I can help other women, it’s my duty to do so.
NG: What advice would you give to any graduate or undergraduate following a similar path to you?
MG: I’ve had a fairly circuitous route to where I find myself currently. Having said that, indirect career paths are more common than one might imagine. The one observation I’d make is that if you want to be in the thick of it, make sure that you develop a wide range of skills that will allow you to keep moving through the ranks. For instance, law is a very flexible degree. If you come up through the technical side, keep thinking about how you might broaden your skill set. Be open to learning about the financial and business side of things. It’s good for geologists to understand that nothing will happen without the money and that being a good custodian of the money is essential.
ABJ thanks Gahagan, managing director, and Emma Nicholson, director of corporate development at Intrepid Financial for their insights and assistance with this interview.
ROAOF (V.BWD) Bowood Energy, Inc. to present at the SEPAC Oil & Gas Investor Showcase on November 21st, 2011.
On Monday, November 21, SEPAC will host its Oil & Gas Investor Showcase. A key event on Calgary's business calendar, the Investor Showcase allows hundreds of retail investors, along with media, analysts and other industry executives, to hear the CEOs of Canada's most dynamic junior and mid-cap oil and gas producers make 20 minute presentations on their company's growth plans.
The SEPAC Oil & Gas Investor Showcase offers a unique setting for investors to get immediate, first-hand information from the CEOs of some of Canada's leading junior and mid-cap oil and gas producers. This event attracts hundreds of retail investors, along with industry analysts, oil and gas executives and media. Market conditions have created a great buying opportunity in the junior sector for investors.
SEPAC Oil & Gas Investor Showcase
Ihub Board for the Alberta Bakken Oil & Gas plays
Alberta Bakken ihub Board
Bowood Energy to present at the CEEPIC Energy Conference.
Canadian Energy Explorers & Producer's Investment Conference
Tuesday, October 25th 2011
Link to Web-Cast
Analyst Buy Recommendation:
TMX: Bowood Strong Buy
Stockhouse: Bowood: Strong Buy
Youtube Presentation Video
41th Oilbarrel Conference - Bowood Energy Inc - Robert F Mercier, President & CEO - February 2nd, 2011
Bowood Presentation
Land Acquisition
In September 2011, Bowood and its partner Legacy jointly acquired an additional 9,658 acres (4,829 net to each partner) of contiguous land offsetting the Spring Coulee well. The lands are expected to be prospective for the Bakken Petroleum system and the shallower Second White Specks oil resource play. This acquisition increases Bowood`s net land position in the Southern Alberta Bakken fairway to approximately 110,000 acres.
Bowood Announcement
Bowood Announces Positive Alberta Bakken Drilling Results and Expansion of Land Position
Wednesday, Oct 19, 2011
Bowood Energy Inc. (TSX VENTURE:BWD) ("Bowood" or the "Company") provides the following operational update of its recent drilling and land acquisition activities in the Southern Alberta Bakken play. Bowood is pleased with the early exploration results from its first two joint exploration wells as well as other industry activity in the fairway. To date 85 wells have been licensed and permitted in the play and 25 wells are currently on production. The recent level of activity in the play continues to be a positive sign from industry that there is significant resource potential in the fairway.
Spring Coulee Well
The Company's first Southern Alberta Bakken horizontal well, located at Spring Coulee on Freehold acreage has been completed. The well is now being equipped for production and first production is anticipated within the next week. The well was drilled directionally to a depth of 2,197 meters with a pilot hole through the Bakken system. Cores were taken in the Second White Specks and in the Bakken petroleum system, including the lower Banff, the Exshaw and the Big Valley formations. Analysis of the Bakken system core is consistent with Company's expectations including vitrinite reflectance analysis which indicates that the well is in an area that is optimally located for peak oil generation. The horizontal section of the well was drilled to a 1,230 meter length and completed with a 20 stage hydraulic fracture stimulation using water based fluids. Following stimulation, the well was cleaned up for 15 days and recovered approximately half of the injected fracture fluid together with 1,380 bbls of light oil. At the end of the 15 day clean up the well was swab tested at a rate of approximately 220 bbls/day of oil at a 65% oil cut. The oil cut increased steadily throughout the clean up and swab test, as water based injected load fluid from the fracture stimulation was recovered from the well. In accordance with its joint venture agreement with Legacy Oil + Gas Inc. ("Legacy"), Bowood incurred 20% of the costs to drill and complete the Spring Coulee well and retains a 50% working interest in the well and surrounding lands.
Kipp Well
Drilling is now complete on the Company's second Alberta Bakken horizontal well, located at Kipp on the Blood First Nation Reserve. The well had a directional pilot hole drilled through the Bakken system to the Nisku formation. The well was cored in the Second White Specks and in the Bakken Petroleum system. The Kipp well was then drilled horizontally to a total measured depth of 3,610 meters and has been equipped for a 20 stage hydraulic fracture stimulation over the 1,290 meter horizontal section. Completion operations are expected to commence in late October. Bowood is paying 16% of the cost of the drilling and completion operations to retain a 40% working interest in the well.
Land Acquisition
In September 2011, Bowood and its partner Legacy jointly acquired an additional 9,658 acres (4,829 net to each partner) of contiguous land offsetting the Spring Coulee well. The lands are expected to be prospective for the Bakken Petroleum system and the shallower Second White Specks oil resource play. This acquisition increases Bowood`s net land position in the Southern Alberta Bakken fairway to approximately 110,000 acres.
IMPORTANT: 2 TICKER SYMBOLS FOR BOWOOD ENERGY.
Bowood Energy, Inc. is a Canadian Company, that also has an American ticker by acquiring Road Runner Oil & Gas. ROAOF. So, for those in the US, the company trades under ROAOF. For those in Canada, its BWD.
A further description is layed out in the company information above.
Again,
BWD is the Canadian Ticker.
ROAOF is the American Ticker
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Important!!!! Bowood Energy has 2 tickers. A Canadian ticker and an American ticker. BWD & ROAOF
ROAOF used to be Road Runner Oil and Gas, an American company. They were acquired by Bowood, BWD. If you are in the United States, you
trade Bowood using it's American ticker, ROAOF. If you are Canadian, you trade it using it's Canadian ticker, BWD.
The prices are different, obviously, due to currency exchange rates.
The charts below represents how both the American and Canadian tickers are trading
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