.png)
Road 53 Resources Inc. (“Road 53” or the “Company”) has engaged Sayer Energy Advisors to assist Road 53 with a sale of the shares of the Company. Road 53 is a private junior oil and natural gas company with assets located in the Leckie area of Alberta (the “Property”). Road 53 is a tightly-held private company with only six shareholders and no debt or severance costs. The Company currently has positive working capital of $1.0 million. At Leckie , Road 53 holds a 100% working interest in certain P&NG rights in 35.5 sections of Crown land. The Property is located near the town of Brooks, Alberta. The Property consists of a long-life, shallow natural gas production base from the Milk River and Medicine Hat formations with continued development of the CBM production base. Average daily sales production net to Road 53 for the eleven months ended November 30, 2022 was approximately 4.4 MMcf/d of natural gas (4.8 MMcf/d gross production) and three barrels of oil and natural gas liquids per day (733 boe/d). Operating income net to Road 53 for the eleven months ended November 30, 2022 was approximately $4.5 million or $4.9 million annualized, with operating costs averaging […]
CamTrader offers a preview only. View original article. boereport.com
