Toscana Energy Income Corp. acquired an CA$11.5 million gross overriding royalty (GORR) over a five-well drilling program in northwestern Alberta, the company said Aug. 10.
The GORR will be generated through drilling infill locations over a proven Montney reserve base. Royalty rates will range from 8% to 12% over these wells.
Toscana Energy Income Corp. is operated by Sprott Toscana, a Calgary, Alberta-based finance company.
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