Hunter Exploration makes acquisitions in Alberta and Argentina

Sep 10, 2001 02:00 AM

Canadian Hunter Exploration said it has made two acquisitions, including a natural-gas holding in Argentina and an unnamed energy firm in Canada. Calgary-based Canadian Hunter said it is paying $ 22.5 mm for "a private company" with assets focused in the Chedderville and Garrington areas of west-central Alberta, next to Canadian Hunter's Chedderville oil field.
Canadian Hunter said the boards of both firms have approved the deal. The acquisition provides about 20,000 net hectares of undeveloped land with exploration and development opportunities and includes tax pools of about $ 40 mm.

In the Argentina deal, Canadian Hunter said it bought the remaining class A common shares of Atalaya Energy for $ 13.5 mm US from Capex and Clan Energy International Fund. That acquisition increases Canadian Hunter's working interest in the Chihuidos natural-gas exploration site and the Sierra Chata concession in the province of Neuquen, Argentina, by 2.2 % to a total of 25.7 %. The two acquisitions aren't expected to have a major impact on Canadian Hunter's 2001 production forecast.

Source: The Canadian Press
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