Pieridae boosts Goldboro LNG resource base with Ikkuma buy


first_imgCanadian LNG project developer Pieridae Energy agreed to buy Ikkuma Resources by way of a plan of arrangement. The completion of the arrangement will provide Pieridae with ownership of an extensive area of producing and gas-prone reserve and resource properties situated primarily in the central Alberta Foothills area, as well as certain interests in Cardium light oil-focused Alberta Foothills properties to a newly formed private corporation, ExploreCo.On completion of the arrangement, each shareholder of Ikkuma will receive, for each common share of Ikkuma, 0.1926 of a common share of Pieridae and 0.1 of a share of ExploreCo, with Ikkuma shareholders holding 100 percent of ExploreCo upon completion, Pieridae said in its statement.However, the completion of the deal is dependent on the approval by the Alberta Energy Regulator (AER).The exchange ratio values the shares of Ikkuma at $0.86 per share, representing a premium of 188 percent to the closing price of $0.30 per share as of August 23, 2018, of Ikkuma common shares on the TSX Venture Exchange.Pieridae said the acquisition of Ikkuma is an important step in the execution of its strategic plans for the acquisition of natural gas reserves and resources.Pursuant to the arrangement Pieridae will acquire the natural gas properties at metrics significantly below the cost of similar reserves and resources in other parts of North America, which is expected to provide one of its long-term competitive advantages for delivering liquefied natural gas to European and other markets.The cost of acquisition represents less than 0.015 percent of the total cost of Pieridae’s proposed Goldboro LNG project and represents a significant step towards reaching the final investment decision in 2018, Pieridae Energy said.Ikkuma is expected to provide a basis for further consolidation of long-life natural gas assets in Alberta and British Columbia that are complementary to the feedstock needs of Pieridae.As part of the acquisition, Pieridae will retain the team of Ikkuma to lead the development of its natural gas properties both in Western and Eastern Canada.Both Pieridae and Ikkuma believe that the Goldboro LNG facility, combined with the natural gas properties of Ikkuma,  contributes to the evolution and growth of Canada’s only majority Canadian owned integrated LNG enterprise.The Boards of Directors of each of Ikkuma and Pieridae have unanimously approved the arrangement agreement, and the Ikkuma board of directors, on the recommendation of a committee of independent directors, has unanimously determined that the arrangement is in the best interests of Ikkuma.last_img read more

Beckham confirms Inter Miami’s interest in Messi,Ronaldo


first_img Promoted ContentThe Most Exciting Cities In The World To Visit7 Things That Actually Ruin Your Phone7 Black Hole Facts That Will Change Your View Of The Universe7 Mind-Boggling Facts About Black HolesWhat Happens To Your Brain When You Play Too Much Video Games?6 Incredibly Strange Facts About HurricanesWho Is The Most Powerful Woman On Earth?Can Playing Too Many Video Games Hurt Your Body?2020 Tattoo Trends: Here’s What You’ll See This Year6 Extreme Facts About HurricanesWho’s The Best Car Manufacturer Of All Time?5 Of The World’s Most Unique Theme Parks Beckham’s club play their first-ever MLS game at the weekend when they take on LAFC in Los Angeles. The former Manchester United and England star has been linked with brining some of the biggest names in world football to Miami. And Beckham admits he would like to bring the likes of Ronaldo and Messi across then pond. He said: “We really believe in the roster we have, the players that we have we’re really happy with but we have also talked about if we have the opportunity to bring in big name players from Europe into our city we will do that. “But we always talked about us being different from any other team, which I am sure every other owner says exactly the same thing. “So that’s what we will try to do and if we have the opportunity to bring big name players in then great we’re lucky we have an ownership group that has that vision and wants to succeed and has that competitiveness where we want the best players.” Beckham plans to have a hands-on role at the club alongside co-owner Jorge Mas. The 44-year-old, who also played for Real Madrid , AC Milan and LA Galaxy during his career, insists he’s in it for the long haul. He added: “When you talk about hands on there is no bigger hands on owners than you are looking at right now. “Our whole ownership group is hands on. That will continue because we care. Read Also:Ronaldo, Messi tipped to retire at David Beckham’s Inter Miami “This is not a vanity project it is a legacy for us, for our families. “I want to create a legacy that my children can turn around in 20 years and say my dad built this club.” FacebookTwitterWhatsAppEmail分享 David Beckham has confirmed his interest in bringing Lionel Messi and Cristiano Ronaldo to Inter Miami. Loading… last_img read more