Acquisitions & Divestitures

Avatar Energy Ltd. has retained Sayer Energy Advisors to sell certain Cardium oil interests in Alberta.

The package includes 48% working interest in one section of land at Brazeau, on which one horizontal Cardium oil well has been drilled to date.   

Recent net production from the well averaged approximately 22 barrels of oil equivalent per day. Proved reserves are 93,000 barrels of oil equivalent and proved and probable reserves are 185,000 barrels equivalent.

Upside includes offsetting wells which have recently been completed using slick water fracs have produced at substantially ...