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Corporate Divestiture Bid Deadline: August 10, 2023 at 4:00 PM MST West 5 Resources Inc. (“West 5”, or the “Company”) has retained Earth Horse Energy Advisors (“Earth Horse”) as its exclusive financial advisor and agent to assist with a corporate sales process. West 5’s assets are located in the Chip Lake/Northville area of Alberta. Divestiture Overview Focused company with no employees, no severance, no office obligations, no debt and a working capital surplus of approximately $500,000 319 boe/d (52% Liquids) of long-life, light (37.8o API) sweet oil producing from the Rock Creek Formation Operated, high working interests in the Chip Lake/Northville area of west-central Alberta Waterflood and well reactivations have improved production, cash flow and recovery of reserves Net Operating Income (“NOI”) of approximately $3.6 million per year In November 2022, 30 e3m3/d of third-party production began being processed at West 5’s 10-29 gas plant at a fee of $35.00/e3m, fee is included in NOI 100% owned and operated infrastructure with a gas plant with NGL recovery 40 e3m3/d of firm service with TC Energy for natural gas delivery PDP and Total Proved reserves of 919.2 Mbbl and 2P reserves of 1.241MMboe witha RLI of 7.9 years and 10.7 […]
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