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Silverleaf Resources Inc. (“Silverleaf” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of all of its oil and natural gas interests located in the Chin Coulee, Claresholm, Edson, Gilby, Morley, Steele and Twining as well as certain minor areas of Alberta (the “Properties”). Average daily production net to Silverleaf from the Properties for the months of July and August 2023 was approximately 488 boe/d, consisting of approximately 1.6 MMcf/d of natural gas and 225 bbl/d of oil and natural gas liquids. Operating income net to Silverleaf from the Properties for the months of July and August 2023 averaged approximately $332,000 per month, or $4.0 million on an annualized basis. Silverleaf has identified approximately 25 re-completion/ workover opportunities in existing producing wells on the Properties which is anticipated to add production of approximately 50 bbl/d of oil and 500 Mcf/d of natural gas. As of October 7, 2023, the Properties had a deemed net asset value of $7.2 million (deemed assets of $12.3 million and deemed liabilities of $5.1 million), with an LMR ratio of 2.43. GLJ Ltd. (“GLJ”) prepared an independent reserves evaluation of the Properties (the “GLJ Report”). The GLJ Report […]
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