Tenth Avenue Petroleum Receives Exchange Approval for Purchase of a Small Stake in Alberta Oil Field
Tenth Avenue Petroleum () on Monday said it received exchange approval for its C$0.83-million acquisition of a 1.3089477% unit participation and 1.7224988% revenue and billing interest in the Swan Hills Unit, an Alberta oil and gas field from closely held Salida Energy.
The company said the purchase, paid with the issue of 9.72-million shares, brings 47 barrels of oil equivalent per day of new production. The Swan Hills Unit is operated by Canadian Natural Resources ().
Tenth Avenue shares last traded Friday, closing a C$0.15 on the TSX Venture Exchange.