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Bonterra Energy Announces Fully Funded Charlie Lake Asset Acquisition to Establish New Complementary Core Area
Bonterra Energy Announces Fully Funded Charlie Lake Asset Acquisition to Establish New Complement...
About this update from Bonterra Energy Corp.
[{"type":"text","content":"\n \n \n \n Bonterra Energy Announces Fully Funded Charlie Lake Asset Acquisition to Establish New Complementary Core Area\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n March 4, 2024\n \n \n /CNW/ - Bonterra Energy Corp. (TSX: BNE) (\"Bonterra\" or the \"Company\") is pleased to announce that the Company has acquired a high quality, undeveloped\n \n Charlie Lake\n \n asset that is prospective for light oil, comprised of 79 net sections of land in\n \n Bonanza, Alberta\n \n and 330 BOE per day\n \n 1\n \n of production, for total cash consideration of\n \n $24.1 million\n \n (\"the Acquisition\"). The Acquisition, which closed on\n \n March 1, 2024\n \n , is complementary to the Company's existing 37 net sections of land, resulting in Bonterra now having 116 net sections of contiguous land in the light oil prone\n \n Charlie Lake\n \n .\n \n \n \n \n \n \n \n \n \n \"This Acquisition enables Bonterra to establish a meaningful position in the expanding\n \n Charlie Lake\n \n play, featuring a long-term development runway with highly economic drilling locations, all of which drives an increasing and sustainable free cash flow profile,\" said\n \n Pat Oliver\n \n , CEO of Bonterra. \"Upon closing, the Company's property portfolio will be comprised of over 14,500 BOE per day\n \n 2\n \n of light oil weighted production from the Cardium, along with two emerging and exciting light oil core areas: the\n \n Charlie Lake\n \n and the\n \n Montney\n \n , both of which offer high impact growth potential, superior economics and significant free funds flow\n \n 3\n \n potential.\"\n \n \n \n ACQUISITION\n \n \n H...