Devon Shire
Long only, newsletter provider, oil & gas, small-cap

Arcan Resources - Let The Takeover Games Begin

Back in October, I asked whether anyone other than Crescent Point Energy (CSCTF.PK) still liked the Swan Hills / Beaverhill Lake light oil play in Western Canada.

I just received my answer, as my favorite unconventional light oil producer, Petrobakken (PBKEF.PK), announced this acquisition of an interest in the land of Arcan Resources (OTCPK:ARNBF) and shares of the company as well:

"PetroBakken Energy Ltd. (the "Company" or "PetroBakken") is pleased to announce recent exploration developments with respect to the highly prospective Beaverhill Lake formation in the Swan Hills area, which we have targeted as one of our key new resource growth areas. Recent farm-in agreements with Arcan Resources Ltd. ("Arcan") has enabled us to secure up...
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