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CALGARY, Sept. 14, 2016 /CNW/ - Altura Energy Inc.
("Altura" or the "Corporation") (TSX Venture: ATU) is pleased to
announce that it has closed its previously announced acquisition of
high quality oil assets (the "Assets") strategically located in
east central Alberta for cash
consideration of $4.0 million.
The Assets add 125 boe/d of low decline production and include
facility infrastructure and a natural gas pipeline for future
growth.
ABOUT ALTURA ENERGY INC.
Altura Energy Inc. is a public oil and gas corporation active in
the exploration and development of oil and natural gas in east
central Alberta.
READER ADVISORY
Barrels of Oil Equivalent
The term barrels of oil equivalent ("boe") may be misleading,
particularly if used in isolation. Per boe amounts have been
calculated by using the conversion ratio of six thousand cubic feet
(6 mcf) of natural gas to one barrel (1 bbl) of crude oil.
The boe conversion ratio of 6 mcf to 1 bbl is based on an energy
equivalency conversion method primarily applicable at the burner
tip and does not represent a value equivalency at the
wellhead. Given that the value ratio based on the current
price of crude oil as compared to natural gas is significantly
different from the energy equivalent of 6:1, utilizing a conversion
on a 6:1 basis may be misleading as an indication of value.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Altura Energy Inc.
