Business
TOPAZ ANNOUNCES TUCK-IN ACQUISITION OF NEBC MONTNEY ROYALTY ASSETS
Topaz Energy Corp. (TSX: TPZ) ("Topaz" or the "Company") is pleased to announce that it has entered into definitive agreements with Tourmaline Oil Corp. ("Tourmaline") to acquire gross overriding royalty interests on approximately 134,000 gross acres, over 65% undeveloped, in its NEBC Montney core royalty area (the "Acquisition Lands") for total cash consideration of $71.7 million, before customary closing adjustments (the "Acquisition").
About this update from Tourmaline Oil Corp.
[{"type":"text","content":"CALGARY, AB, Sept. 30, 2025 /CNW/ - Topaz Energy Corp. (TSX: TPZ) ("Topaz" or the "Company") is pleased to announce that it has entered into definitive agreements with Tourmaline Oil Corp. ("Tourmaline") to acquire gross overriding royalty interests on approximately 134,000 gross acres, over 65% undeveloped, in its NEBC Montney core royalty area (the "Acquisition Lands") for total cash consideration of $71.7 million, before customary closing adjustments (the "Acquisition").","length":528,"tagName":"p"},{"type":"image","alt":"Topaz Energy Corp. logo (CNW Group/Topaz Energy Corp)","displaySize":"","headline":null,"caption":"Topaz Energy Corp. logo (CNW Group/Topaz Energy Corp)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":133,"url":"https://media.zenfs.com/en/cnwgroup.com/d2d8798a20afbab0f96b89adaecaf0fc"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/oHswU6_eqKy1G3gWEoakLA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTIzNDtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/d2d8798a20afbab0f96b89adaecaf0fc","width":400,"height":133}},"href":"https://mma.prnewswire.com/media/2785761/Topaz_Energy_Corp_TOPAZ_ANNOUNCES_TUCK_IN_ACQUISITION_OF_NEBC_MO.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The Acquisition Lands feature approximately 410 primarily tier one future Montney drilling locations(1), multi-zone upside optionality, and provides Topaz full alignment to each of Tourmaline's future growth projects under their multi-year NEBC Montney build-out plan. The Acquisition will be funded using the Company's existing credit facilities.","length":355,"tagName":"p"},{"type":"text","content":"Third Quarter 2025 Results","length":26,"tagName":"p"},{"type":"text","content":"Topaz is scheduled to release its third quarter 2025 financial results on November 3, 2025. Topaz will host the third quarter conference call on November 4, 2025 at 9:00 a.m. MST (11:00 a.m. EST).","length":201,"tagName":"p"},{"type":"text","content":"Additional information","length":22,"tagName":"p"},{"type":"text","content":"Additional information about Topaz is available on SEDAR+ at www.sedarplus.ca under the Company's profile, and on Topaz's website, www.topazenergy.ca.","length":158,"tagName":"p"},{"type":"text","content":"ABOUT THE COMP...