Calgary, Alberta – TheNewswire – May 9, 2025 – Blue Sky Global Energy Corp.(“BGE”orthe“Company”) (TSXV:BGE) is pleased to announce that it has entered into a Letter of Intent (the “LOI”) dated May 6, 2025, with Blue Sky Resources Ltd. (“BSR”) a non-arm’s length party, for the acquisition of the remaining 50% interest in certain oil and gas assets located in Northeastern British Columbia (“BC Assets”) and a 50% interest in certain oil and gas assets located in Alberta (“Alberta assets”), collectively referred to as the “Acquisition.” The total purchase price is CDN $19,000,000 (the “Purchase Price”), subject to the completion of financing and other customary conditions.
BC Assets
Under the terms of the LOI, BGE will acquire the remaining 50% working interest in the BC Assets, bringing its total ownership to 100%. BGE will also assume operatorship of the assets. The Company previously acquired the initial 50% interest in these assets, as announced in the press release dated May 28, 2024.
Alberta Assets Overview
The Alberta Assets are comprised of high-quality, light oil properties characterized by the following hightlights:
- Multi-zone production from 64 wells
- 97% light sweet oil, with an API gravity of 38-41
- Currently production of approximately 130 barrels of oil equivalent per day (boepd), predominantly from the Keg River and Gilwood formations
- Approximately 14,000 net continuous acres
- Strong seismic coverage across the asset base
- Established infrastructure with significant excess oil handling capacity
Terms and Conditions
The Acquisition is subject to standard due diligence procedures, as well as customary representations, warranties, and closing conditions. The transaction remains subject to the approval of the TSX Venture Exchange (the “TSXV”) and the successful completion of financing by BGE.
AboutBlue Sky Global Energy Corp.
The Company is a publicly traded entity listed on the TSXV under the symbol “BGE” with oil and assets in Canada, Indonesia and Belize. BGE holds a 50% non-operated interest in producing assets in Northeastern British Columbia. The Company holds a Production Sharing Contract over the Paus Block with an area of approximately 8,214 square kilometers located offshore East Natuna, Indonesia. In Belize the Company has a Production Sharing Agreement (“PSA”) with the Government of Belize comprised of approximately 180,000 acres of land in the Corozal Basin which may hold prospective oil and gas resources, and which so far includes on discovery, the SBC field.
ForFurtherInformation
Blue Sky Global Energy Corp.
Mohammad Fazil
President, ChiefExecutiveOfficer, Corporate Secretary and Director
Email:mofazil@gmail.com
Phone Number: +1 (403) 613-7310
