Ketch Resources Acquires Acreage in Central Alberta

Ketch Resources Ltd. has entered into an agreement with a senior Canadian oil and gas production company to acquire natural gas properties, related gas production facilities and undeveloped land in central Alberta for $17 million. These properties are producing approximately 350 boepd of natural gas and associated liquids. Upon closing, Ketch will immediately execute on several multi-zone pool optimization and development projects. This acquisition will bring Ketch's total proven reserves to 12.3 mmboe, as analyzed by the Company's independent third party engineers. Ketch intends to fund this transaction through cash on hand and its existing bank facility.

"This acquisition is complementary to Ketch's existing asset base in central Alberta", stated Grant B. Fagerheim, President and Chief Executive Officer of Ketch. "Ketch is acquiring high quality natural gas production and reserves in the ground with significant development and optimization potential, together with gathering and processing facilities in place."

Ketch's common shares are publicly traded on the Toronto Stock Exchange under the trading symbol KER. Ketch is a growth oriented, junior natural gas exploration, development and production company operating exclusively in western Canada.
Company: Ketch Resources Ltd. more info
 - Ketch Resources Acquires Acreage in Central Alberta (Jul 27)