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Manitok Energy Inc. Announces the Execution of Asset Purchase of Production and Fluid Processing Facility in Southern AlbertaFriday, May 01, 2015
May 1, 2015, Calgary, Alberta– Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX-V: MEI) is pleased to announce that it has entered into an asset purchase agreement with a public Alberta based resource company for the acquisition of approximately 1,800 boe/d of production (66% oil and liquids) and a related 25,000 bbls/day fluid processing facility in the Wayne area of southeast Alberta (the "Wayne Assets") for total cash consideration of $61.5 million prior to transaction costs and customary closing adjustments (the "Proposed Acquisition"). Closing of the Proposed Acquisition is anticipated to occur on or about June 1, 2015. Manitok anticipates financing the Proposed Acquisition with approximately $47.0 million primarily from a production volume royalty of approximately 6% of Stolberg production through a private royalty income trust company and up to $20.0 million of infrastructure based facility financing.
Manitok Energy Inc. Announces Revised Terms and Additional Undeveloped Lands at EnticeFriday, May 01, 2015
Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX-V: MEI) is pleased to announce revised terms and additional undeveloped lands to the Lease Issuance and Drilling Commitment Agreement with PrairieSky Royalty Ltd. (the "Agreement"). The major terms of the Agreement are as follows:
Manitok Energy Inc. Announces 2014 Year End Financial ResultsThursday, April 30, 2015
Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX-V: MEI) announces its financial and operating results for the year ended December 31, 2014, provides results from its 2014 independent reserves evaluation and provides an operational update. Given the current difficult commodity price environment, the Corporation continues to develop its more mature core area at Stolberg while setting itself up for growth in its second core area at Entice. Manitok completed a successful 29 (20.8 net) well drilling program in 2014 in both core areas. Production for the year averaged 4,502 boe/d after taking into account the asset divestiture of approximately 777 boe/d of sour natural gas in the central Alberta foothills region in February 2014 ("Foothills Asset Divestiture").
Manitok announces grant of incentive stock optionsTuesday, February 17, 2015
MANITOK ENERGY INC. ANNOUNCES GRANT OF INCENTIVE STOCK OPTIONS
Manitok provides operations and corporate updateTuesday, February 03, 2015
Manitok provides operations and corporate update. Manitok concluded 2014 by successfully completing the drilling and production test of two Cardium light oil wells. The two wells are 103/13-21-42-15W5 (33% working interest) and 13-11-42-15W5 (30% working interest). This completes a 15 well (6.8 net) drilling program in Cordel-Stolberg for 2014. The 13-11-42-15W5 well which targeted the backlimb of the Cardium structure tested at 333 bbls/d (100 bbls/d net) and 150 mcf/d (45 mcf/d net) over 1.9 days for a combined rate of 358 boe/d (108 boe/d net). The well produces 44° API oil and was tied-in and placed on production on December 23, 2014.
Manitok announces financial results for the third quarter of 2014 and an operational and 2014 guidance update.Monday, November 17, 2014
November 17, 2014, Calgary, Alberta – Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX-V: MEI) announces its financial and operating results for the third quarter of 2014 and an operational and 2014 guidance update. The full text of Manitok's third quarter