Tamarack Valley Energy: Rises on deal to buy Anegada Oil
12/04/2021 18:55
** Canada-based oil and natural gas co TVE.TO up 4.6% at
C$4.81
** TVE to buy to buy privately held Anegada Oil Corp for
C$494 million ($393.41 million) in cash and stock urn:newsml:reuters.com:*:nCNWk5SgZa
** The acquisition will provide Tamarack with a material
position in the Charlie Lake, one of the leading oil plays in
North America - TVE CEO Brian Schmidt
** "TVE continuing to add to its production magnitude,
inventory and investor relevance aggressively in 2021, and has
now made material forays into both of the two hottest emerging
oily resource plays in Canada" - ATB Capital Markets
** Eight Capital also views the deal as positive
** TVE is up ~66% so far this year
($1 = 1.2557 Canadian dollars)
(Reporting by Arunima Kumar in Bengaluru)
((Arunima.Kumar@thomsonreuters.com))