Page 11 - NorthAmOil Week 11 2021

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PetroShale announces Such shareholders will acquire fully trading
UPSTREAM available to all eligible common shareholders.
Spartan Delta announces year-end 2020 financial, shares when they exercise their allocated
rights at a price of $0.20 per right and can
closing of previously operating and reserves supplement their acquisition of common
shares by taking advantage of the additional
announced strategic highlights rights subscription whereby they may elect
to exercise additional rights also at a price of
acquisitions and financings PetroShale is pleased to provide preliminary $0.20 per right. PetroShale’s share price was
$0.25 at close of trading on March 12, 2021.
unaudited financial and operating results for
Spartan Delta is pleased to announce the the three- and twelve-month periods ended PETROSHALE, March 15, 2021
closing of its previously announced strategic December 31, 2020, as well as summary
acquisitions, including the corporate highlights from our independent corporate Waterous Energy Fund
acquisition of Inception Exploration, a reserves evaluation prepared by Netherland,
Montney focused arm’s length private Sewell & Associates, with an effective date of successfully completes
company with operations in the Gold Creek December 31, 2020. The Company anticipates
area of north-west Alberta, and the purchase issuing and filing on SEDAR its full audited takeover bid for 57mn
of assets located primarily in the Simonette annual financial statements, MD&A and
area of north-west Alberta and Willesden statement of reserves data for the year ended shares of Osum Oil Sands
Green area of west-central Alberta. December 31, 2020 on or about March 23,
Concurrent with the acquisitions, Spartan 2021. Waterous Energy Fund is pleased to announce
completed its previously announced non- While 2020 proved to be one of the that it has successfully completed the offer
brokered private placement of 6,250,000 most challenging operating environments by its subsidiary, WEF Osum Acquisition, to
common shares of Spartan at a price of $4.00 for energy companies globally, PetroShale’s acquire up to 57,000,000 common shares of
per common share and 10,976,626 common performance through the year demonstrated Osum Oil Sands at a price of $3.00 per share,
shares issued on a “CDE” flow-through basis the quality of the company’s asset base, the following the expiry of the mandatory 10-day
at a price of $4.92 per flow-through share, strength of the business strategy and the extension period at 11:59 pm (Vancouver
raising aggregate gross proceeds of $79.0mn. execution capability of the PetroShale team. time) on March 12, 2021. 21,531,295
In addition, net proceeds of $44.09mn have During a period of adverse commodity additional Osum shares were deposited
been released to Spartan pursuant to its pricing and economic uncertainty the and not withdrawn during the extension
previously announced bought deal financing company was able to maintain production, period, which, together with the 45,747,068
of 11,250,000 subscription receipts at a price meet annual guidance, increase proved Osum shares deposited at the expiry of the
of $4.00 per subscription receipt. plus probable (2P) reserves, maintain the initial deposit period on March 1, 2021, total
The private placement and public offering company’s senior loan borrowing base and 67,278,363 Osum shares deposited under the
collectively resulted in the issuance of continue to generate compelling economics offer.
28,476,626 common shares for total gross while prudently limiting capital expenditures. WATEROUS ENERGY FUND, March 15, 2021
proceeds of $124.0mn. The acquisitions With the recently announced recapitalisation
resulted in the issuance of 25,227,564 transaction, summarised below, PetroShale Topaz Energy announces
common shares. Post completion of the will enter what the company believes will be
financings and the acquisitions, Spartan a period of unprecedented opportunity, with 2020 financial, operating
has 113,932,285 common shares issued and a growth inventory in the core of the Bakken
outstanding. shale intact and the financial flexibility to and reserve results and
SPARTAN DELTA, March 18, 2021 enable the company to develop this inventory.
A part of the recently announced provides 2021 guidance
recapitalisation transaction is a rights offering
update

Topaz Energy is pleased to announce financial
results for the three months and year ended
December 31, 2020.
Despite the challenging backdrop
of COVID-19, Topaz achieved the
strategic objectives it established for 2020
demonstrating the resiliency of its business
model. During 2020, Topaz established an
independent management team, expanded
its board of directors, delivered a reliable
and sustainable CAD0.20 per share quarterly
dividend and completed its initial public
offering, raising CAD250.1mn and listing
its common shares on the Toronto Stock
Exchange in October.

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