Prairie Schooner Petroleum Ltd. Announces Closing of $108 Million Asset Acquisition and a $41.3 Million Subscription Receipts Financing

From: CCNMatthews Newswire | Date: October 31, 2005 | Copyright information

CALGARY, ALBERTA--(CCNMatthews - Oct. 31, 2005) - Prairie Schooner Petroleum Ltd. (TSX:PSL) is pleased to announce that effective October 27, 2005 it has closed the previously announced (August 2, 2005) $108 million asset acquisition from Purcell Energy Ltd. The acquisition includes gas weighted producing properties and undeveloped lands predominantly in west central Alberta. The assets are characterized as high working interests, with a significant undeveloped land position, seismic database and facility infrastructure. The acquisition cost, was payable by $65.3 million in cash and ...

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