Canadian Natural Resources, General Partnership entered into an asset purchase agreement to acquire Senlac assets from Southern Pacific Resource Corp. (OTCPK:STPJ.F) on November 23, 2015. As part of the consideration, Canadian Natural made a deposit of 5% with the receiver. In the event of termination, the 5% deposit will be forfeited to Southern Pacific.

The deal is subject to third party, court and regulatory approvals. The deal is expected to close by December 3, 2015. Paul Darby of PricewaterhouseCoopers acted as receiver for Southern Pacific Resources. Josef Kruger and Robyn Gurofsky of Borden Ladner Gervais LLP acted as legal advisors for PricewaterhouseCoopers. RBC Dominion Securities Inc. acted as financial advisor for Southern Pacific.

Canadian Natural Resources, General Partnership completed the acquisition of Senlac assets from Southern Pacific Resource Corp. (OTCPK:STPJ.F) on December 3, 2015. The transaction got the approval from the court on December 3, 2015.