Anegada’s assets include 1600 barrels per day of oil and 6.9 million cubic feet of natural gas and drilling rights to 32,000 net acres.
The total purchase price is comprised of 11.7 million shares of Raging River common stock and the assumption of C$30 million in debts owed by Anegada.
“The acquisition establishes a core Viking area in Alberta comprised of over 70 net oil prone sections of land in addition to 375 drilling locations (approximately 82% unbooked), which includes Raging River’s existing lands and drilling locations in the Viking area in Alberta,” the company said.
