Markets

Painted Pony Announces Completion of Northeast BC Montney Asset Acquisition

Painted Pony Petroleum Ltd. (PPY.V) has completed its previously announced acquisition of certain assets and lands in the Kobes area of northeast British Columbia. Painted Pony paid $108 million in cash, before closing adjustments and related costs, pursuant to the acquisition, as announced on December 4, 2012.

With the completion of the acquisition, Painted Pony expands its Montney land position by adding approximately 25 contiguous sections.

The company also announced that the acquisition of light oil assets in Alberta previously announced on December 4, 2012 will not be completed.

PPY shares were down 15 cents to $10.30 on volume of nearly 95,000.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More