The properties include four producing non-operated CBM gas wells and associated gathering and production facilities with a net production of about 25boepd, and three suspended Cardium oil wells with the potential to reactivate two of the wells this summer for an estimated net production of 25bbl per day.

Cougar has also acquired five standing natural gas wells in central and southern Alberta, and 3,200 net acres of mineral rights adjacent to the company’s oil producing Alexander property.

Payment for the properties included Cougar assuming the abandonment liability for the assets and forgiving an outstanding accounts receivable from the private company.