Celtic Exploration Ltd., Calgary, (Toronto: CLT) has closed the acquisition of certain assets in Alberta from an undisclosed company for C$52.7 million. The assets are in Celtic's core operating area, consisting of 49.9% working interest in the Kaybob South Beaverhill Lake gas unit No. 2 as well as other assets in the Kaybob South area. Production is approximately 1,100 barrels of oil equivalent per day (63% gas). Proved reserves are 2.8 million barrels equivalent, and proved and probable reserves are 4.4 million barrels equivalent.
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