Brief: Saturn Oil & Gas Inc Announces Acquisition Of Ridgeback Resources Inc

Saturn Oil & Gas

20/01/2023 23:04

Jan 20 (Reuters) - Saturn Oil & Gas Inc  SOIL.V :
    * SATURN OIL & GAS INC. ANNOUNCES ACQUISITION OF RIDGEBACK
RESOURCES INC. EXPANDING PRODUCTION TO APPROXIMATELY 30,000
BOE/D AND BOUGHT DEAL FINANCING INCLUDING STRATEGIC LEAD ORDERS
FROM GMT CAPITAL CORP. AND LIBRA ADVISORS, LLC
    * SATURN OIL & GAS INC - DEAL HIGHLY ACCRETIVE ON CASH FLOW
PER
FULLY DILUTED PER SHARE
    * SATURN OIL & GAS INC - SATURN WILL SEEK TO APPOINT UP TO
TWO NEW
MEMBERS TO THE BOARD OF DIRECTORS
    * SATURN OIL & GAS  -  THE $525 MILLION CONSIDERATION FOR
RIDGEBACK ACQUISITION TO INCLUDE $475 MILLION CASH PAYMENT
    * SATURN OIL & GAS INC - PRO FORMA RIDGEBACK DEAL, SATURN'S
2023
AFF PER BASIC SHARE IS FORECASTED AT $3.12
    * SATURN OIL & GAS - CONSIDERATION FOR RIDGEBACK DEAL TO
INCLUDE
ISSUANCE OF $50 MILLION OF CO'S COMMON SHARES TO RIDGEBACK
SHAREHOLDERS AT $2.5765 PER SHARE

Source text for Eikon:  ID:nCNWft8jTa 
Further company coverage:  SOIL.V 
 ((Reuters.Briefs@thomsonreuters.com;))