Brief: Tenaz Energy Corp. Announces Acquisition Of European Gas Assets

Tenaz Energy

27/06/2023 03:04

June 26 (Reuters) - Tenaz Energy Corp  TNZ.TO :
    * ANNOUNCES ACQUISITION OF EUROPEAN GAS ASSETS
    * TENAZ WILL NOT BE ISSUING EQUITY IN CONNECTION WITH
ACQUISITION.
    * DEAL ACCRETIVE ON KEY PER SHARE MEASURES, INCLUDING
PRODUCTION,
RESERVES, CASH FLOW AND FREE CASH FLOW
    * CO TO ACQUIRE 100% OF ISSUED AND OUTSTANDING SHARES OF XTO
NETHERLANDS LTD
    * SAYS ACQUIRED ASSETS ARE EXPECTED TO PRODUCE APPROXIMATELY
450
TO 500 BOE/D DURING 2023
    * ASSUMING THAT CLOSING OCCURS DURING Q3 2023, ANTICIPATED
CALENDAR 2023 PRODUCTION INCREASE WOULD BE APPROXIMATELY 100 TO
200 BOE/D
    * FFO FOR FULL-YEAR 2023 WOULD BE $7.4 MILLION (EUR 5.1
MILLION)
    * UPDATES 2023 PRODUCTION GUIDANCE TO 2300-2500 BOE/D

Source text for Eikon:  ID:nCNWJX6Zza 
Further company coverage:  TNZ.TO 

 ((Reuters.Briefs@thomsonreuters.com;))