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Petrus Resources Ltd.

Address 2400, 240 – 4th Avenue S.W., Calgary, AB, T2P 4H4, CA
Phone 403-984-4014
Fax 403-984-2717
Website petrusresources.com

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Rising Star acquires Peace River assets from Petrus

Petrus Resources Ltd. has announced that it has sold its oil and natural gas interests in the Peace River area of Alberta to Rising Star Resources Ltd., a private company, for total consideration of $30.0 million subject to customary closing adjustments. The consideration is comprised of $29.0 million in cash and 1.0 million shares of Rising Star at a deemed value of $1.00 per share. The Disposition closed on July 8, 2016 and has an effective date of April 1, 2016.