Courage Energy Inc., an oil and natural gas company withoperations in western Canada, announced yesterday a purchase of aninterest in producing wells and facilities in the Peace River Archarea of northern Alberta for $13.5 million. The seller wasundisclosed and Courage will now operate the property with 55%ownership. The acquisition will immediately add over 3 MMcf/d tothe company’s production. There are additional wells awaitingcompletion, and pipeline tie-in, which will add to these productionvolumes, Courage said. The purchase includes 28,000 acres (16,000acres net) of land and a comprehensive seismic database. Anindependent engineering report, prepared for the Vendor, hasassigned 14.1 Bcf of proved reserves and an additional 6.428 Bcf ofrisked probable reserves for a total 20.5 Bcf of establishedreserves. The scheduled date to close the acquisition is Feb. 28,with an effective date of Dec. 31.

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