PROPOSALS DUE: Will be available in the confidential information
Marquee Energy Ltd. (“Marquee” or the “Company”) has initiated a process to evaluate strategic alternatives to enhance shareholder value and has retained GMP Securities L.P. (“GMP FirstEnergy”) as its exclusive financial advisor. Marquee owns and operates a high working interest, contiguous land position in the Michichi area of southeastern Alberta, which contains significant development potential in the Banff Formation. Corporate production averaged 2,875 BOE/d (49% light oil and NGLs, 32o API) in the fourth quarter of 2017. The Company has successfully drilled 48 horizontal wells in the Banff Karst Fairway, proving up a large, highly economic, development-ready light oil drilling inventory. The Company’s 2017 and early 2018 drilling campaign has focused on further cost and completion enhancements, increasing well productivity and enhancing well economics.
Marquee has initiated a process to review strategic alternatives with a view to maximizing value for its shareholders. This may include, among other alternatives, a merger, the sale of the Company or a portion of the Company’s assets, or other such options as may be determined by the Company.
A detailed marketing presentation and Confidentiality Agreement (“CA”) will be made available on GMP FirstEnergy’s website or can be obtained by contacting GMP FirstEnergy directly. Parties who execute a CA will have access to the confidential information available in an online data room which will open the week of March 12, 2018. Technical presentations with Marquee’s management team will be available starting the week of April 2, 2018. Please direct all correspondence and inquiries to GMP FirstEnergy: