|By Marketwired .||
|July 2, 2014 05:32 PM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 07/02/14 -- Kelt Exploration Ltd. ("Kelt" or the "Company") (TSX: KEL) is pleased to announce the successful completion of its previously announced acquisition of a private Canadian oil and gas company ("PrivateCo") with crude oil and natural gas assets located at Valhalla/La Glace, adjacent to the Company's core producing areas at Pouce Coupe and Spirit River in west central Alberta (the "Acquisition"), all as previously disclosed in the news release of Kelt dated June 16, 2014 and available under the Company's SEDAR profile at www.sedar.com.
Pursuant to the terms of the Acquisition, the consideration paid by Kelt, before adjustments, was $165.0 million, consisting of $107.0 million in cash (including proceeds to shareholders of PrivateCo, as well as repayment of all outstanding debt of PrivateCo) and the issuance of 4,270,956 common shares of Kelt ("Kelt Shares") with an aggregate value of $58.0 million, based on the five day volume weighted average price of Kelt shares that traded on the Toronto Stock Exchange from June 9th to 13th of $13.58.
Immediately following closing of the Acquisition, all of the property, assets and liabilities of PrivateCo were assigned to Kelt and PrivateCo was subsequently dissolved.
Kelt is a Calgary, Alberta, Canada-based oil and gas company focused on exploration, development and production of crude oil and natural gas resources, primarily in west central Alberta and northeastern British Columbia.
Kelt Exploration Ltd.
David J. Wilson
President and Chief Executive Officer
Kelt Exploration Ltd.
Sadiq H. Lalani
Vice President, Finance and Chief Financial Officer
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...
Sep. 28, 2016 04:45 PM EDT Reads: 336
Sep. 28, 2016 04:30 PM EDT Reads: 2,796
Sep. 28, 2016 04:15 PM EDT Reads: 2,418
Sep. 28, 2016 04:15 PM EDT Reads: 1,853
Sep. 28, 2016 04:15 PM EDT Reads: 1,469
Sep. 28, 2016 04:00 PM EDT Reads: 1,479
Sep. 28, 2016 03:15 PM EDT Reads: 344
Sep. 28, 2016 03:15 PM EDT Reads: 1,306
Sep. 28, 2016 03:15 PM EDT Reads: 4,139
Sep. 28, 2016 03:00 PM EDT Reads: 3,863
Sep. 28, 2016 02:45 PM EDT Reads: 1,739
Sep. 28, 2016 02:30 PM EDT Reads: 3,315
Sep. 28, 2016 02:30 PM EDT Reads: 2,924
Sep. 28, 2016 02:00 PM EDT Reads: 4,777
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Sep. 28, 2016 02:00 PM EDT Reads: 4,419