Surge Energy acquires Longview Oil via $429M share exchange

|About: Surge Energy, Inc. (ZPTAF)|By:, SA News Editor

Surge Energy (ZPTAF) agrees to acquire Longview Oil (LGVWF) in a share exchange that values Longview shares at C$5.99 each.

Surge is offering 0.975 of a share for each Longview share in the friendly deal, which the companies value at ~C$429M.

Surge says the proposed transaction is accretive on all metrics, and adds concentrated reserves, production, land and operations that are contiguous with its existing core areas.