Business
Blue Sky Announces Closing of Acquisition of Heavy Oil Assets In Alberta
(TheNewswire) Calgary, Alberta, September 11, 2024 – TheNewswire – Bl...
About this update from Saba Energy Ltd.
[{"type":"text","content":"Blue Sky Announces Closing of Acquisition of Heavy Oil Assets In Alberta\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n Calgary, Alberta, September 11, 2024\n–\n \n\n TheNewswire –\n \n\n Blue Sky Global Energy Corp.\n \n\n (“\n \n\n Blue\nSky\n \n\n ”\n \n\n or\n \n\n the\n \n\n “\n \n\n Company\n \n\n ”)\n \n\n (\n \n\n TSXV:\n \n\n BGE\n \n\n ) is pleased to announce\n \n\n that further to the Company’s press release dated August 6,\n2024, the Company has closed the acquisition of a\n \n\n 50% interest in certain heavy oil assets in Alberta (the\n“\n \n\n Acquisition\n \n\n ” or “\n \n\n Acquired\nAssets\n \n\n ”) from Blue Sky Resources Inc.\n(“\n \n\n BSR\n \n\n ”) pursuant to\n \n\n a definitive agreement\nentered into by the parties dated August 19, 2024\n \n\n .\n \n\n\n\n The Acquired Assets are located in the Cold Lake area\nof Alberta and are made up of approximately 192 hectares (BSG’s 50%\nnet interest) prospective for the exploration of heavy oil. The\nAcquired Assets will continue to be operated by BSR and are being\nacquired from BSR for a purchase price of $307,849.50 (to be paid in\ncash), subject to adjustments, as may be required by the parties\n(“\n \n\n Purchase Price\n \n\n ”).  No shares will be issued as consideration for the\nProposed Acquisition. The Company has the right to take over\noperatorship of the assts if and when requisite regulatory approvals\nare obtained.\n \n\n\n\n The Company has obtained the necessary approvals to\nclose the Acquisition, including receiving final acceptance from the\nTSX Venture Exchange (“\n \n\n Exchange\n \n\n ”). No finder fees were payable by\nthe Company in connection with the Acquisition.\n \n\n\n\n\n\n About\n \n\n Blue Sky Global Energy Corp.\n \n\n\n\n The Company is a publicly-traded entity listed on the\nTSXV under the symbol “BGE” with assets which are comprised\nprimarily of approximately 180,000 acres of land (“Contracting\nArea”) located in the Corozal Basin in Belize which may hold\nprospective oil and gas resources, and which so far includes one\ndiscovery, the SBC field. The SCB field contains four wells, two of\nwhich have been tested, the SCB#1 and the SCB#2 wells. A wholly owned\nsubsidia...