CALGARY -- - Val Vista Energy makes $4.5M acquisition
CALGARY -- Junior energy producer Val Vista Energy Ltd. is buying a private oil and gas company in a $4.5-million cash and stock deal.
Val Vista said recently the purchase involves $3.3 million in cash and $1.2 million in shares. It will give the Calgary company central Alberta properties with about 200 barrels of oil equivalent production a day and more than 3,000 gross hectares of land.
The acquisition is expected to close Oct. 31 and will boost Val Vista's overall production to more than 475 barrels of oil equivalent output a day. The company's current production is primarily focused in the Manyberries, Taber, Conrad, and Matziwin areas of southern Alberta.
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SUMMERSIDE - During the month of May, 61 per cent of the electricity Summerside's homes, businesses and industries used came from wind power.
25 per cent was purchased from the West Cape Wind Farm in West Point, P.E.I. — the city has had a contract with it since 2007. The other 36 per cent came from the city's own wind farm, which was built in 2009.
"One of the strategic goals that was planned for by the city back in 2005 was to try to become a 100 per cent green city," said Greg Gaudet, Summerside's director of municipal services.
"The city started…
