Bonavista Energy Acquires Additional Interests in West Central Alberta

Canadian junior oil & gas company Bonavista Energy Corp. has entered into an agreement with Paramount Resources Ltd. to acquire certain oil and liquids rich natural gas weighted properties located in its core operating area in West Central Alberta. The buyer reported an aggregate purchase price of C$53.3 Million (~US$40.1 Million) in cash, subject to customary post-closing adjustments. The assets purchased include ownership interests in ~500 Net Sections of mineral rights, with projected daily production of 8,200 boe/d (~44% Oil/NGLs) expected during the first quarter of 2020.