Blue Sky Global Energy to acquire oil and gas assets in BC and Alberta, Canada

From Yahoo Finance: 2025-05-12 07:18:00

Blue Sky Global Energy (BGE) has signed a letter of intent to fully acquire oil and gas assets in BC and Alberta, Canada from Blue Sky Resources. The total purchase price for the remaining 50% interest in the BC assets and a 50% interest in the Alberta assets is C$19m. BGE will become the operator of the assets post-transaction, which includes premium light oil assets yielding 130 boepd.

The acquisition process is subject to standard due diligence, representations, warranties, and closing conditions. Finalisation of the deal is contingent on approval from the TSX Venture Exchange and successful financing by BGE. BGE is a publicly traded company with a diverse portfolio of oil and gas assets across Canada, Indonesia, and Belize. In addition to the BC assets, BGE holds a 50% non-operated interest in producing assets in north-eastern BC.

In November 2024, the Alberta Energy Regulator (AER) mandated a halt on Sunshine Oilsands’ operations due to consistent non-compliance with regulations. The AER’s directive also required the company to secure a $6.09m deposit to cover potential liabilities associated with its inactive sites and to maintain proper site management.



Read more at Yahoo Finance: Blue Sky to acquire oil and gas assets in BC and Alberta in Canada