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Knowledge Energy Inc. (“Knowledge” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of certain non-core oil and natural gas interests located in Alberta, specifically in the Provost, Wildmere, Veteran, and Morningside areas west of the Fourth Meridian and in the Mirage, Sneddon and Bonanza areas west of the Sixth Meridian (the “Properties”). The Properties consist of both oil and natural gas producing wells along with high-quality prospective drilling locations for oil. Knowledge is selling the Properties in order to focus its operations on its core assets. The Company’s preference is to sell all of the Properties in one transaction. Average daily production net to Knowledge from the Properties in October 2020 was 241 boe/d consisting of approximately 1.0 MMcf/d of natural gas and 67 barrels of oil and natural gas liquids per day. Net operating income from the Properties for October 2020 on an annualized basis was approximately $425,000, or $35,400 per month. Net operating income from the Properties for calendar 2019 totaled approximately $670,000. As of January 2, 2021, Knowledge’s net deemed asset value for the Properties was $5.5 million (deemed assets of $7.1 million and deemed liabilities of $1.6 million), […]
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