Mitra Energy Inc. (TSX VENTURE:MTE) is pleased to announce that Mitra Energy (Australia) Pty Ltd, a wholly owned subsidiary of Mitra, as buyer, and Mitra, as guarantor, have signed a definitive Sale & Purchase Agreement with Quadrant Northwest Pty Ltd and Santos Offshore Pty Ltd, as sellers, for the acquisition of a 100% interest in the Stag Oilfield for total cash consideration of US$10 million plus adjustments to reflect an economic effective date of July 1, 2016 and potential contingent payments as further described below.
The Stag Oilfield, which is located 60km offshore Western Australia in the Carnarvon Basin and in a water depth of approximately 47 metres, has been in production since 1998 and is currently producing circa 3,750 barrels per day from 10 active wells.
A. Paul Blakeley, Executive Chairman of Mitra said:’We are delighted with this very important acquisition of the producing Stag Oilfield, which puts Mitra on a path of transformation to becoming a leading upstream production operator in the Asia Pacific region. This acquisition is cash generative from day one and provides a solid base for future growth. It creates the opportunity to demonstrate efficient and safe operating capability, consistent with what the new management team at Mitra have done in the past in Asia Pacific with Talisman Energy, and will leverage these skills to add value through further infill drilling activity, cost reduction and reservoir management. This is exactly the type of asset we are looking to invest in with deep value multiples, and we are very excited to be taking this first step towards building a business which takes advantage of the current market in a low oil price environment, with an increasing set of opportunities where we can best leverage our experience.’
石油圈
