4 Small Exploration and Production Companies Join Forces
We like to keep track of what the small penny stock companies are doing. In this case, four small E&P companies are making a big move by joining forces to create one large company. These companies are worth you attention, especially because they are working hard to make a big impact on energy market. Streetwise Blog gives some details on this merger.
Charger Energy Corp., Seaview Energy Inc. (SVWYF.PK), Silverback Energy Ltd. and Sirius Energy Inc. are joining forces to create a streamlined junior explorer and producer (E&P) that focuses on light oil in central and northwest Alberta.
Once complete, three of the existing management teams will head for the doors, and the assets left behind will be combined to create a company that aims to grow by acquiring both undeveloped land and drilling inventory. All together, the firms already have access to 350,000 net acres of land and are expected to produce between 4,600 and 5,100 barrels of oil equivalent in 2012.
Watch out for this merger. It could be a great long term hold as they build an empire. We are always rooting for the little guys, and this merger looks like it could have great potential.
Quotes taken from report by Streetwise Blog, Read the entire article here.
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