Trident Exploration Corp.
Trident Exploration Corp. (“Trident”) has retained CB Securities Inc. (“CB Securities”) as its exclusive advisor for the sale of its Riviere oil property (the “Offering”). This is an invitation to submit a Non-Binding Bid by June 27, 2018.
- Production is currently 160 BOE/day, consisting of 90 Bbls/day of 27.5° API oil, 295 Mcf/day of sales gas, and 22 Bbls/day of natural gas liquids
- Oil price received is based on light sweet oil pricing less $9.35/Bbl
- $20/BOE operating costs and 12.6% royalties
- $845 Thousand Estimated 2018 Net Operating Income at $74.09/Bbl (US$61.67/Bbl) oil forecast
- 100% working interests in producing wells and infrastructure
- Large OOIP estimated at >25 MMBbls
- Wabamun pay up to 10 metres over more than a section
- 2.8% cumulative recovery and ~5% ultimate recovery
- Inefficient waterflood currently in place has significant optimization upside
- 10% recovery factor sweep efficiency calculation with optimized waterflood
- 6 inexpensive, relatively high impact Wabamun vertical oil development locations identified
- Incremental ~210 Bbls/day of oil, plus gas and natural gas liquids
- Incremental $6.0 million of NPV including $2.4 million of capital
- Proved reserve additions for $11,430/BOE/day and $4.90/BOE
- Probable reserve additions for $7,740/BOE/day and $4.25/BOE
- LMR of 1.81 with $5.27 million of deemed assets and $2.91 million of deemed liabilities
Please click link above to see attachment
Additional detailed information on the property is provided in the Offering Circular that is available for review by contacting CB Securities. Execution of a Confidentiality Agreement will allow potential purchasers to gain access to the Virtual Data Room. Please contact email@example.com to receive either document.
Each interested party is asked to submit a Non-Binding Bid to the attention of CB Securities. From the Non-Binding Bids received Trident will identify the parties with whom to work toward concluding a transaction.
Trident and CB Securities make no representation or warranty as to the accuracy or completeness of the information provided in connection with this Offering. Each potential purchaser should rely on its own investigation and due diligence to satisfy itself as to all matters relating to this Offering. Only those representations or warranties expressly agreed to in an executed Purchase and Sale Agreement between Trident and the successful purchaser shall be binding on Trident.
Trident and CB Securities reserve the right to modify the timing, procedures, and terms and conditions of this Offering, or to terminate this Offering at any time. Trident also reserves the right to accept or reject any or all offers at its sole discretion for any reason whatsoever.