Advance Energy is focusing on oil and gas projects that can generate cash in the short-to-medium-term or where there is a short-term opportunity to increase their value. The Buffalo oilfield fits the criteria, and the company is acquiring a 50% stake in this field in this reverse takeover.
Buffalo has produced oil in the past. This could be a highly cash generative investment, but it will require significant capital expenditure before production can commence.
Advance Energy is seeking other acquisitions and farm-in opportunities for discovered oil projects. Some of these could end up ...
