Bellatrix will get C$42 million ($31.8 million) cash and 16.7 million InPlay shares valued at $5 million for the properties in the Greater Pembina area of Alberta.
The asset sale includes oil production of about 930 barrels of oil equivalent per day and formation rights in the Cardium only.Under the terms of the deal, Bellatrix has kept formation rights above and below the Cardium on the Pembina acreage, including in the Notikewin, Falher and Wilrich members of the Spirit River formation.
