Carmen Energy to Acquire Shorthorn Exploration
Carmen Energy Inc. (CEI.V) announced Monday that it has signed a Letter of Intent on to acquire all the issued and outstanding shares of Shorthorn Exploration Ltd., a Calgary based private company engaged in the exploitation and development of gas and oil reserves in Alberta and Saskatchewan.
The company said Shorthorn's current production is approximately 23 barrels of oil per day and approximately 1,960 MCF of gas per day for a total of approximately 350 barrels of oil equivalent per day.
CEI shares were not yet traded today.
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