(Editor's Note: Investors should be mindful fo the risks of transacting in illiquid securities such as CRCTF. Crocotta's listing in Toronto, CTA.TO, offers stronger liquidity.)
Crocotta Energy (OTCPK:CRCTF) is splitting up into two pieces - the Edson, Alberta Cardium and Bluesky properties which provide the bulk of production and cash flow are being bought by yield-oriented Long Run Exploration (OTCPK:WFREF) (LRE.TO).
Crocotta's Montney natural gas play at Dawson Creek, British Columbia will be spun off into a new company (ExploreCo is the temporary name) after doing a $45 million public offering. Current management will focus on the Montney growth play and is putting $13 million into the "stub" for shares at $1.70 and free five year...
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