Core Viewpoint - DNO ASA has successfully completed the acquisition of Sval Energi Group AS for USD 450 million, significantly enhancing its North Sea operations and production capacity [1][3]. Acquisition Details - The acquisition involves a portfolio of 16 producing fields in Norway, which increases DNO's North Sea production to 80,000 barrels of oil equivalent per day (boepd) and its proven and probable (2P) reserves to 189 million barrels of oil equivalent (MMboe) [2][3]. - The enterprise value of the acquisition is reported at USD 1.6 billion [1]. Production and Reserves Impact - Post-acquisition, Norway and the United Kingdom will account for nearly 60% of DNO's global production and about 45% of its global reserves, with the remainder primarily in the Kurdistan region of Iraq [3]. - The combined North Sea 2P reserves and contingent resources (2C) total 15 years of production at the current run rate [4]. Leadership and Future Growth - Halvor Engebretsen, the CEO of Sval Energi, will lead the expanded North Sea business as Managing Director of DNO Norge AS [4]. - DNO is positioned to grow its North Sea production organically, supported by ongoing field development projects and multiple discoveries [4]. Operational Performance - In Kurdistan, DNO maintains production from its Tawke license at approximately 80,000 boepd, with minimal new investment required [7]. - The company also has gas assets in Côte d'Ivoire producing over 3,000 boepd net to DNO, with plans for four development wells and one exploration well in 2025-26 [7]. Strategic Focus - DNO is actively seeking additional acquisition targets while focusing on accelerating the development and monetization of its discoveries in Norway [5][6].

– Acquisition will increase production and reserves significantly – – Agreements signed to acquire 95% interest in El Tordillo, La Tapera and Puesto Quiroga hydrocarbon exploitation concessions – CALGARY, Alberta, June 09, 2025 (GLOBE NEWSWIRE) -- Crown Point Energy Inc. (TSX-V: CWV) ("Crown Point" or the "Company") is pleased to announce that its wholly-owned subsidiary, Crown Point Energia S.A., has entered into agreements (the "Acquisition Agreements") with Tecpetrol S.A. ("Tecpetrol") dated June 4, 2025 ...

Core Viewpoint - Strathcona Resources Ltd. has initiated an offer to acquire all outstanding common shares of MEG Energy Corp. for a combination of Strathcona shares and cash, reflecting a strategic move to consolidate its position in the oil and gas sector [1][2]. Offer Details - The offer consists of 0.62 Strathcona shares and $4.10 in cash for each MEG share [1]. - The offer is open for acceptance until September 15, 2025, at 5 p.m. Mountain Time [2]. - The offer is subject to conditions including the deposit of more than 50% of MEG shares and obtaining necessary regulatory approvals [6][7]. Equity Commitment - Strathcona has secured an equity commitment from Waterous Energy Fund, which holds 79.6% of Strathcona shares, to purchase an additional 21.4 million shares at $30.92 each, totaling approximately $662 million [3][4]. - This investment is noted as the largest single investment in the Canadian upstream oil and gas sector since 2014 [4]. Shareholder Approval - Strathcona anticipates issuing up to 145 million shares as part of the offer, which represents about 68% of its outstanding shares [17]. - The issuance of approximately 169.3 million shares requires shareholder approval, which has been obtained through written consent from WEF [18][19]. Strategic Intent - The company aims to acquire any MEG shares not deposited under the offer through compulsory acquisition or other means, reinforcing its strategy to integrate MEG as a wholly-owned subsidiary [8]. - The completion of the WEF III equity investment is expected by July 13, 2025, and is not a condition for the offer [16]. Advisors and Communications - Scotiabank and TD Securities are acting as exclusive financial advisors, while legal counsel includes Blake, Cassels & Graydon LLP and Skadden, Arps, Slate, Meagher & Flom LLP [21]. - Laurel Hill Advisory Group has been engaged as a strategic communications advisor and information agent for the offer [22].