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TENAZ ENERGY CORP. ANNOUNCES EXPECTED CLOSING OF NOBV ACQUISITION
CALGARY, ALBERTA--(Newsfile Corp. - April 22, 2025) - Tenaz Energy Corp. ("Tenaz", "Our", or "We"...
About this update from Tenaz Energy Corp
[{"type":"text","content":"TENAZ ENERGY CORP. ANNOUNCES EXPECTED CLOSING OF NOBV ACQUISITIONCALGARY, ALBERTA--(Newsfile Corp. - April 22, 2025) - Tenaz Energy Corp. (\"Tenaz\", \"Our\", or \"We\") (TSX: TNZ) is pleased to announce that it has completed nearly all of the required transition activities to assume operatorship and to close the previously announced acquisition of NAM Offshore B.V. (\"NOBV\") from Nederlandse Aardolie Maatschappij B.V. (\"NAM\"), a joint venture between Shell PLC and ExxonMobil Corporation. Based on our most recent timeline, closing of the NOBV acquisition is expected to occur on May 1, 2025, at which time Tenaz will acquire 100% of the issued and outstanding shares of NOBV. Tenaz and NAM have executed the transition activities approximately two months ahead of our original target date. Upon closing, former NAM offshore staff will become part of Tenaz Energy Netherlands B.V. We believe the experience and capability of our new team, combined with a deep portfolio of investment projects and underutilized operated infrastructure, sets Tenaz up for long-term success in the Netherlands. We will provide updated capital and production guidance upon closing of the acquisition. About Tenaz Energy Corp.Tenaz is an energy company focused on the acquisition and sustainable development of international oil and gas assets. Tenaz has operations in Canada and non-operated offshore natural gas and midstream assets in the Netherlands. Tenaz produces crude oil and natural gas from a number of formations within the Mannville Group at Leduc-Woodbend in central Alberta. Our Netherlands' natural gas assets are located in the Dutch sector of the North Sea. Additional information regarding Tenaz is available on SEDAR+ and its website at www.tenazenergy.com. Tenaz's common shares are listed for trading on the Toronto Stock Exchange under the symbol \"TNZ\". Forward‐looking Information and Statements This press release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words \"expect\", \"anticipate\", \"budget\", \"forecast\", \"guidance\", \"continue\", \"estimate\", \"objective\", \"ongoing\", \"may\", \"will\", \"project\", \"should\", \"could\", \"believe\", \"plans\", \"potential\", \"intends\", \"strategy\" and similar expressions are intended to identify forwa...