The completion of the acquisition is anticipated to close before October 20, 2010, and the combined entities complement each other with the seismic skill base of CanTex fitting in with the drilling and operations of Bedford.
After closing, the combined entities will have over 250,000boe in engineered proven oil and gas reserves behind pipe, and some 1,600,000boe in proven undeveloped.
CanTex is engaged in the acquisition, exploration and development of natural gas and oil properties in the US and Canada.
