The assets include approximately 130 boe/d of operated production at South Tableland in southeast Saskatchewan and Coronation in southern Alberta together with associated gathering systems, batteries, compression facilities and approximately 13,000 acres of undeveloped land.
With respect to the share component of the purchase price, One Exploration (OneEx) has completed its acquisition of all of the outstanding TriOil shares pursuant to a private agreement under which each common share of TriOil was exchanged for 5.8824 class A shares of OneEx issued from treasury.
Second Wave agreed to this share exchange and now owns 12,458,923 class A shares of OneEx, which the company understands to represent approximately 10.91% of the outstanding class A shares and approximately 10.79% of the total number of OneEx voting shares. The company did not previously own or control any OneEx securities, does not have any current intention to acquire additional OneEx securities and does not act jointly or in concert with any other person in connection with ownership of OneEx securities.
