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Artisan Energy Corp., Magnum Energy, Inc. Reach Provost Deal

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December 30, 2013

Artisan Energy Corp. (TSXV: AEC.V) signed a purchase and sale agreement with Magnum Energy, Inc. (TSX: MEN.V) to acquire Magnum’s 50% working interest in 1,360 net acres (2,720 gross acres) of land in Alberta’s Provost asset, the company said Dec. 30. Also, Artisan made a farm-out agreement with an E&P company to complete up to CA$1.7 million worth of operations currently owned by Artisan, the company added.

The Provost asset’s Viking zone produces 90% light oil, at roughly 40 net barrels of oil equivalent per day (BOE/d), the company said. ...

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