Wednesday, February 1, 2012

Petrobank Energy divests oilsands property for $224M

Petrobank Energy and Resources Ltd has signed an agreement with Grizzly Oil Sands Ulc to sell its May River oilsands property in Alberta for a cash consideration of C$225M (US$224.15 million). The May River property also includes the Conklin demonstration project. TD Securities Inc and UBS Securities Canada Inc have acted as financial advisors to Petrobank on this transaction. Continue reading here..

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