A Proven Team Growing
a High-Quality Light Oil Asset
Boulder Energy Ltd. is a private oil and natural gas producer based in Calgary, Alberta, with high-working-interest operations in the multi-zone Belly River pool at Brazeau in the Alberta Deep Basin.
Through multiple years of drilling, testing and development, Boulder has grown the Brazeau-Belly River play into a high-quality light oil-producing asset. Production is processed through central, Company-owned facilities. Current operations include an expanding gas reinjection program to maintain reservoir pressure, reduce annual production declines and maximize long-term resource recovery.
Boulder is owned by ARC Financial Corp., one of the leading private equity investors in Alberta’s energy sector.
Boulder Energy Ltd. is a private oil and natural gas producer based in Calgary, Alberta, with high-working interest operations in the multi-zone Belly River pool at Brazeau in the Alberta Deep Basin.
The Belly River pool at Brazeau has been substantially de-risked through horizontal, multi-stage-fractured wells drilled into 10 separate stacked zones and sub-zones. The property includes complete Company-owned infrastructure to produce, process and market oil, natural gas and natural gas liquids.
Boulder was founded through a Plan of Arrangement that divided DeeThree Exploration Ltd. into two pure-play companies, Granite Oil Corp. and Boulder Energy Ltd., in May 2015.
In April 2016, Boulder completed a going private transaction to become a portfolio company of ARC Energy Fund 8 (a private equity fund raised and advised by ARC Financial Corp.).
With ARC's backing and expertise, Boulder is well positioned to execute on our business plan of pursuing multiple exploration and development projects simultaneously in order to maximize shareholder value through growth in reserves, production and cash flow.
ARC Financial Corp. has raised $6.0 billion of committed capital across nine energy focused private equity funds from institutional investors across Canada, the United States and Europe. The ARC Energy Funds provide growth equity capital to energy companies with an exclusive focus on the Canadian oil and gas industry.
For more information, please visit www.arcfinancial.com
Boulder Energy Ltd. Announces Closing of Going Private Transaction
CALGARY, ALBERTA--(Marketwired - April 13, 2016) - This document corrects and replaces the release issued today, April 13, 2016, at 9:26 AM EDT.
BOULDER ENERGY LTD. ("Boulder" or the "Company") (TSX:BXO)(OTCQX:BLLDF) announced today the completion of a going private transaction by way of a statutory plan of arrangement (the "Arrangement") involving Boulder and 1951556 Alberta Ltd. (the "Purchaser") a portfolio company of ARC Energy Fund 8 (a private equity fund raised and advised by ARC Financial Corp.). Pursuant to the Arrangement, shareholders of Boulder received $2.59 in cash for each Boulder common share held (other than certain Boulder common shares held by certain officers of the Company which were exchanged for 2.59 common shares of the Purchaser per share).
Immediately after giving effect to the acquisition of the Boulder common shares under the Arrangement, the Purchaser owned and controlled 46,468,092 Boulder common shares, being 100% of the issued and outstanding Boulder common shares. As part of the Arrangement, Boulder and the Purchaser were amalgamated and continued as one corporation under the name "Boulder Energy Ltd."
It is expected that Boulder's common shares will cease trading and will be delisted from the TSX and the OTCQX in approximately two to four business days in accordance with the rules of the TSX and OTCQX. Concurrent with the delisting of its common shares, Boulder will apply to all applicable Canadian securities regulatory authorities in order to cease to be a reporting issuer.
Registered shareholders of Boulder who have not already done so should submit a completed letter of transmittal to CST Trust Company, the depositary appointed by the Purchaser in relation to the Arrangement. Shareholders that hold share certificates must include their certificates with their letter of transmittal. Letter of transmittal were previously sent to shareholders of Boulder and additional copies may be obtained by contacting CST Trust Company by telephone at 1-800-387-0825 or by email at email@example.com.
Cormark Securities Inc. acted as exclusive financial advisor to the Special Committee of Boulder's Board of Directors and DLA Piper (Canada) LLP acted as legal counsel to Boulder in respect of the Arrangement. National Bank Financial and Emerging Equities Inc. acted as strategic advisors to Boulder. Stikeman Elliott LLP acted as legal counsel to ARC and the Purchaser.
Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws. The use of any of the words "expect", "potential", "target", "anticipate", "continue", "estimate", "objective", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward-looking statements and information concerning the timing of de-listing from the TSX, and the OTCQX, and the application to cease to be a reporting issuer.
In respect of the forward-looking statements and information concerning the anticipated timing for delisting from the TSX and OTCQX Boulder has provided such statements in reliance on certain assumptions that it believes are reasonable at this time, including assumptions as to the ability of Boulder to receive, in a timely manner, the regulatory approvals. This may change for a number of reasons, including inability to secure approvals in the time assumed. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times.
The forward-looking statements and information contained in this news release are made as of the date hereof and Boulder undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events, or results or otherwise, other than as required by applicable securities laws.
For a copy of the securities acquisition report, please contact Brian Boulanger, Senior Vice President, ARC Equity Management (Fund 8) Ltd. at 4300, 400 - 3rd Avenue S.W., Calgary, Alberta or by telephone at (403) 292-0680.