Vermilion Vitality Inc. introduced in a single day that its now owns 16.3% of Coelacanth Vitality Inc.or about $49.2 MM value primarily based on right this moment’s buying and selling costs for Coelacanth (CEI.v).
Coelacanth is the spinout from Leucrotta Exploration that was acquired by Vermilion again within the spring, and has a big contiguous block of (presumably) Montney exploration land north of the Peace River in NE BC. Given the moratorium on new properly licenses in NE BC for many of the previous 12 months and alter, we will’t see any properly licenses for them on the present time, however maybe now that allowing seems to have opened up once more, we might even see some going ahead.
The map beneath exhibits the lands held by Leucrotta (now owned by Vermilion) in blue, and the lands held by Coelacanth in inexperienced. There may be some working curiosity overlap between the 2 in spots. Additionally on the map you may see any Montney wells drilled within the final 3 years. There may be one properly that has been drilled into the Coelacanth lands within the final 3 years that we will see within the public area (thanks Petro Ninja!), with the manufacturing historical past included beneath.
Supply: Coelacanth Investor Presentation
