Tenth Avenue Petroleum (TSE:TPC) has released an update.
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Tenth Avenue Petroleum Corp. has signed a Purchase and Sales Agreement to acquire low-decline, long-life natural gas assets in Southern Alberta, marking a strategic expansion in the region. The acquisition involves a 49% working interest in two non-operated units and 25% in eight non-unit wells, enhancing production capabilities and reserve growth. The purchase, valued at $50,000, will be finalized through the issuance of company shares and is expected to close by the end of November 2024.
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