Kingsland Energy Corp. is a technology driven Saskatchewan based company focused on exploiting oil opportunities in Southern Saskatchewan, Manitoba and Alberta.
Kingsland Energy Corp. Sells $5M of Saskatchewan Assests
Kingsland Energy Corp. has agreed to sell assets in the Steelman-Ward area of Saskatchewan and other non-core undeveloped land, for the gross cash proceeds of $5-million and a working interest in a Red River well in southeast Saskatchewan.
Kingsland currently owns a 100-per-cent working interest in the Steelman field, currently producing approximately 40 barrels of oil equivalent per day. The undeveloped land included in the sale is located throughout southeastern Saskatchewan and is not part of Kingsland's immediate development plan. Kingsland will use the proceeds from the sale to accelerate its 2012 fall drilling and development program targeting three potential new pool discoveries in southeastern Saskatchewan and Manitoba.