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JOURNEY ENERGY INC. ANNOUNCES CLOSING OF THE PRIVATE COMPANY ACQUISITION
JOURNEY ENERGY INC. ANNOUNCES CLOSING OF THE PRIVATE COMPANY ACQUISITION Canada...
About this update from Journey Energy, Inc.
[{"type":"text","content":"\n \n \n \n JOURNEY ENERGY INC. ANNOUNCES CLOSING OF THE PRIVATE COMPANY ACQUISITION\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n April 4, 2022\n \n /CNW/ - Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) (\"\n \n Journey\n \n \" or the \"\n \n Company\n \n \") reports that it has closed the previously announced private company (\"\n \n PrivateCo\n \n \") acquisition.\n \n \n The acquisition price was paid via the issuance of 1.75 million Journey shares plus\n \n $8.0 million\n \n of cash. Production from PrivateCo's producing wells the period\n \n March 13-26\n \n was approximately 660 boe/d (54% light crude oil and NGL's). The new\n \n Ellerslie\n \n horizontal well drilled by PrivateCo in the first quarter (31% working interest) has now been connected to PrivateCo's production facility and commenced production on\n \n April 1\n \n . This well is forecast to add approximately 75-100 boe/d net to Journey.\n \n \n \n Journey Energy Inc.\n \n \n 700, 517 – 10\n \n th\n \n Avenue SW\n \n \n Calgary, AB\n \n T2R 0A8\n \n \n www.journeyenergy.ca\n \n \n \n \n \n \n Advisories:\n \n \n \n \n \n \n \n Barrel of Oil Equivalents and Volumes\n \n \n \n \n \n Where amounts are expressed in a barrel of oil equivalent (\"boe\"), or barrel of oil equivalent per day (\"boe/d\"), natural gas volumes have been converted to barrels of oil equivalent at six (6) thousand cubic feet (\"Mcf\") to one (1) barrel. Use of the term BOE may be misleading particularly if used in isolation. The boe conversion ratio of 6 Mcf to 1 barrel (\"Bbl\") of oil or natural gas liquids is based on an energy equivalency conversion methodology primarily applicable at the burner tip, and does not represent a value equivalency at the wellhead. This conversion conforms to the Canadian Securities Regulators' National Instrument 51-101 –\n \n Standards of Disclosure for Oil and Gas Activities\n \n .\n \n \n \n \n No securities regulatory authority has either approved or disapproved of the contents of this press release...