Return Energy Inc: Management’s Discussion and Analysis for the Year Ended December 31, 2017

Source Company Report
Company Spartan Delta Corp.
Tags Corporate: Overview/Strategy, Country: Canada, M&A: Asset Deal, Deals, Upstream: Upstream News
Date April 26, 2018

Return Energy Inc provided following M&A details in its MD&A Report for the year ended December 31, 2017:

  • Gain on sale of exploration and evaluation assets

During the year ended December 31, 2017, the Company sold non-core undeveloped land for $50,000. The land was originally acquired as part of the acquisitions in 2016. The land was recorded with a book value of $nil creating a $50,000 gain.

  • Gain on sale of property, plant and equipment

During the year ended December 31, 2017, the Company sold non-core oil assets in the Pembina area for cash proceeds of $118,973. The Company had a book value of $287,131 and decommissioning liabilities of $262,448 which resulted in a gain on sale of $94,290. This was partially offset by a $3,208 loss on the sale of Company vehicles.

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