Daylight Resources Trust to Buy Oil and Gas Company for C$109 Million

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Daylight Resources Trust to Buy Oil and Gas Company for C$109 Million

Monday, April 27, 2009 at 11:02AM

Under a new deal, Daylight Resources Trust (DAY_u.TO) will pay C$32 million in cash, C$7.25 million in Trust units and assume net debt of approximately C$25 million for a total acquisition deal valued at C$109 million (US$89.64 million). The deal promises to boost porduction by 13 percent.

The private company currently produce around 3,000 barrels of oil per day (boe/d) mostly in the Alberta, Canada area.

Daylight Resources Trust units closed at C$7.66 Friday on the TSE.

Alberta,

Canada,

Company News,

Oil & Gas |

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