Wedgemount Resources Announces Transformational Acquisition of Additional Permian Basin Assets and CAD$2.0 Million Convertible Debenture Financing
Wedgemount Resources Announces Transformational Acquisition of Additional Permian Basin Assets and CAD$2.0 Million Convertible Debenture Financing
Vancouver, British Columbia--(Newsfile Corp. - July 29, 2024) - Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) ("Wedgemount" or the "Company"), is pleased to announce that it has entered into a Purchase and Sale Agreement ("PSA") for the acquisition of additional oil and gas assets (the "Huggy Assets") located in the Permian Basin of west central Texas. The PSA is with an arm's length private company (the "Seller") located in Texas, USA.
温哥华,不列颠哥伦比亚省--(新闻稿 - 2024年7月29日)- Wedgemount 资源有限公司(CSE:WDGY)(OTCQB: WDGRF) (以下简称“Wedgemount”或“公司”)很高兴地宣布已签署采购与销售协议(“PSA”)以收购位于德克萨斯州中西部 Permian 油气盆地的其他油气资产(“Huggy 资产”)。PSA 是与位于美国德克萨斯州的一家私人公司(“卖方”)进行的。
Acquisition Highlights - Huggy Operations, Eastern Shelf
收购亮点 - Huggy 运营,东部架
- 20,000+ acres including two core operating areas adjacent to Wedgemount's current facilities, 30 miles south of Abilene, TX
- 111 vertical production and eight injector wells currently producing 72 boe/d
- Estimated production of 900 boe/d within 1 year and 1600 boe/d within 2 years
- Purchase price US$900,000 - Valuation = US$12,500 per flowing boe/d
- Cash Flow Multiple 0.33x NTM net operating cash flow
- 100% working interest / 75% net royalty interest
- 100+ development drilling locations with similar geology
- Minimal capital requirements estimated to significantly increase current production
- Multiple existing up-hole shallow targets on acreage for potential future growth
- All land held by operating leases with no expiries
- 2万英亩,包括毗邻 Wedgemount 当前设施的两个核心运营区,距离德克萨斯州阿比林市以南30英里。
- 111个竖向生产和8口注入井,目前的产量为72桶当量/天。
- 预计在1年内产量为每天900桶当量,2年内产量为每天1600桶当量。
- 购买价格为 900,000 美元 - 估值为每天流动油气当量12500美元。
- 现金流倍数为0.33x NTm 净营业现金流。
- 100% 工作权益 / 75% 净特许权益。
- 100个以上的开发钻井位置,地质学类似。
- 估计最小资本要求可以显着提高当前产量。
- 地块上存在多个现有的上孔浅层目标,具有潜在的未来增长。
- 所有土地都持有营业租赁,并没有到期。
Wedgemount will acquire a 100% working interest in 20,000 acres comprising 37 oil and gas leases, hosting 111 producing wells, eight injectors and all surface facilities. Current production from the 111 wells is approximately 72 boe/d of high-quality, low-decline operated production. The area's geology consists of numerous hydrocarbon-producing formations, which management anticipates will be targeted by the Company.
Wedgemount 将收购由 37 个油气租赁组成的 20000英亩,包括111口生产井、8口注入井和所有地面设施的100% 工作权益。站在当前角度,它的高质量低衰退的运营生产约为72桶当量/天。该区域的地质构成了多个含烃产层,我们期待公司将针对这些产层进行开采。
"We're extremely excited to announce this transformational acquisition by Wedgemount in the Permian Basin. Our team has done an outstanding job identifying undervalued and under-optimized assets in our core area at very attractive pricing," stated Mark Vanry, CEO of Wedgemount. "We believe the new assets offer the same low-cost production upside exhibited by our existing assets. Field work, including chemical treatments, well-workovers, repairing wells currently down and restarting shut-in wells, is expected to commence immediately upon closing."
Wedgemount 的 CEO Mark Vanry 表示:“我们非常高兴 Wedgemount 在 Permian 油气盆地宣布这一变革性收购。我们的团队在核心区域识别了被低估和低优化压倒性的财产,而且价格非常有吸引力。我们相信新资产提供的低成本生产上行动力与我们现有资产一样。针对该区域的现场工作,包括化学处理、修井、修复当前关闭的井和重新启动关闭的井,预计将立即开始。”
Terms of the Purchase
购买条款
Wedgemount will make cash payments to the Seller totaling US$900,000 as to: US$90,000 upon signing of the agreement and US$810,000 within five business days of the expected closing on August 26, 2024.
Wedgemount 将向卖方支付现金共 900,000 美元: 90,000 美元是协议签署时支付的订金,剩下的 810,000 美元将于 2024 年 8 月 26 日预计收盘的五个工作日内支付。
Convertible Debenture Financing Details
可转换债券融资细节
In connection with the acquisition, Wedgemount also announces it intends to complete a non-brokered private placement (the "Offering") of convertible debentures of the Company (the "Convertible Debenture Units") at a price of CAD$1,000 for gross proceeds of up to CAD$2,000,000.
在收购的基础上,Wedgemount 还宣布其计划以 1000 加币的价格完成公司可转换债券(“可转换债券单元”)(以下简称“债券单元”)的非经纪人私募(“发行”)以获得高达 200 万加币的总收益。
Each Convertible Debenture Unit will be comprised of CAD$1,000 principal amount of unsecured convertible debenture ("Convertible Debenture") and 2,941 common share purchase warrants (each a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of Wedgemount (each a "Common Share") at a price of CAD$0.30 for a period of thirty-six (36) months from the date of issuance thereof.
每个可转换债券单元将包括 1000 加币的无担保可转换债券(“可转换债券”)和 2,941 张普通股认购权证书(每张为“认购权证”)。每份认购权证将有权在认购权证发行日起 36 个月内以 0.30 加币的价格购买 Wedgemount 的一份普通股。
The Convertible Debentures will bear interest at a rate of 10.0% per annum, calculated and payable semi-annually in arrears, commencing February 24, 2025 and maturing thirty-six (36) months from the date of issuance (the "Maturity Date"). The principal amount of each Convertible Debenture will be convertible into Common Shares of the Company at a price of CAD$0.17 (the "Conversion Price") at the option of the holder of a Convertible Debenture at any time prior to the close of business on the Maturity Date. On or after August 24, 2025 the Convertible Debentures may be redeemed in whole or in part from time to time at the option of the Company at CAD$1,050 plus accrued and unpaid interest.
可转换债券将以按年计算、每半年到期并支付的 10.0% 固定利率计息,在发行(“发行日期”)之日起 36 个月内到期(“到期日”)。每张可转换债券的本金金额可在到期日之前,按 0.17 加币的价格由其持有人自行选择转换为公司的普通股(“转换价”)。从 2025 年 8 月 24 日起,可转换债券可由公司自愿在 CAD$1,050 加上应计应付利息的情况下全部或部分赎回。
The Convertible Debentures will be unsecured obligations of the Company and will be subordinated in right of payment of principal and interest to all secured debt and to all existing and future senior indebtedness of the Company and senior to any of the Company's future debt that is expressly subordinated to the Convertible Debentures.
可转换公司债券将是公司的无担保债务,且其在偿还本金和利息的权利方面处于所有担保债务以及公司现有和未来的高级负债和任何明确被置于可转换公司债券之下的公司未来债务之上。
The net proceeds received by the Company from the Offering will be used for the acquisition of the Huggy Assets described above and for continued optimization of the Company's operated oil and gas assets.
公司获得的募资净额将用于收购上述Huggy资产和持续优化其经营的油气资产。
About Wedgemount Resources Corp.
关于Wedgemount Resources Corp.
Wedgemount Resources is a junior oil & gas company focused on maximizing shareholder value through the acquisition, development and exploitation of natural resource projects in the southern USA.
Wedgemount Resources是一家初创的燃料币公司,通过收购、开发和开采美国南部的自然资源项目来最大化股东价值。
On behalf of the Board of Directors,
WEDGEMOUNT RESOURCES CORP.
代表董事会,
WEDGEMOUNT资源公司。
Mark Vanry, President and CEO
Mark Vanry,总裁兼首席执行官。
For more information, please contact the Company at:
Telephone: (604) 343-4743
info@wedgemountresources.com
有关更多信息,请联系公司:
电话:(604) 343-4743
info@wedgemountresources.com
Reader Advisory
读者声明
This news release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Forward looking statements made in this news release include the anticipated completion of the acquisition of the Huggy Assets and the completion of the Offering and the proposed timing thereof. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, availability of funds, personnel and other resources necessary to conduct exploration or development programs, successes of the Company's exploration efforts, availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
本新闻稿可能包含构成“前瞻性信息”的陈述,包括关于公司、其董事或其高管就公司未来业务活动的计划、意图、信仰和当前预期的陈述。这些作为公司或其管理层与之相关的诸如“可能”、“将”、“可能”、“将要”、“打算”、“计划”、“预期”、“相信”、“估计”、“期望”和类似表达意愿的表述,旨在识别此类前瞻性陈述。本新闻稿中的前瞻性陈述包括预期完成对Huggy资产的收购、Offering的完成及其拟议的时机等。我们提醒投资者,任何此类前瞻性陈述都不存在未来业务活动的担保,并涉及风险和不确定性,而且,由于各种因素的影响,包括但不限于募资、进行勘探或开发计划所需的人员和其他资源的可用性、公司的勘探成果的成功、资本和融资的可用性以及一般的经济、市场或商业条件,公司未来的业务活动可能会与前瞻性陈述中所述的不同。我们无法保证此类信息是准确的,因此,我们建议读者凭借自己的评估来评估此类不确定性。公司不承担任何更新前瞻性信息的义务,除非适用的证券法规要求。
Neither the Canadian Securities Exchange nor the Canadian Investment Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
加拿大证券交易所和加拿大投资监管组织不对本新闻稿的充分性或准确性承担责任。