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Article: AEC Expands Land Base at Suffield.
- Article from:
- PR Newswire
- Article date:
- April 5, 2000
CopyrightCOPYRIGHT 2000 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CALGARY, April 5 /CNW-PRN/ - AEC Oil & Gas, a partnership owned by Alberta Energy Company Ltd., today confirmed it was successful in acquiring the majority of its key prospects in the special Crown land sale for deeper petroleum and natural gas rights underlying AEC's existing producing properties on the Suffield Military Range.
The Company acquired 200,000 acres of prime exploration lands at a cost of $63 million. This represented approximately 70% of the posted lands.
``These lands are in the heart of what AEC views as one of our franchise asset regions, at Suffield, and are surrounded by existing infrastructure which will minimize future development ...