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Kelt Will Acquire Montney Assets In Deal

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June 18, 2014

Kelt Exploration Ltd. (TO: KEL.TO) entered an agreement to acquire a private, unspecified Canadian oil and natural gas company that has assets at the Valhalla/La Glace areas, adjacent to Kelt’s producing areas at Pouce Coupe and Spirit River in west-central Alberta, the company said June 16.

There are 38,400 gross acres with 60 gross sections, and 32,981 net acres with 51.5 net sections, Kelt said.

The acquisition is scheduled to close July 2, Kelt said. Kelt will pay CA$165 million and will also give the other company’s shareholders 4.3 million ...

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