The
Toronto-listed
pair
said
that
subject
to
shareholder
and
regulatory
approval,
the
pair
would
create
a
new
outfit
in
which
its
respective
shareholders
would
own
50%.
Ahead
of
the
merger
Toronto-listed
Sundance
Energy
Corporation
is
to
pay
$7.71
million
in
stages
to
acquire
up
to
half
of
Birch
Lake
Energy’s
38.9%
stake
in
the
Lochend-Bearspaw
area
of
Alberta.
Birch
Lake
Energy’s
7840-gross
acre
position
lies
in
the
Cardium-formation
light
oil
play
six
miles
from
Calgary.
The
explorer
also
holds
acreage
in
the
Halkirk
Viking
light
oil
play.
Sundance
Energy
Corporation
holds
the
rights
to…
