Tenaz Energy Corp. (TSX:TNZ) entered into share purchase agreement to acquire XTO Netherlands B.V. from XH, LLC on December 20, 2022. Consideration for the Acquisition is in the form of the assumption of future decommissioning liabilities. The Consideration will be financed by combination of cash on hand and an expanded credit facility totaling CAD 25 million. The acquisition will be accretive to existing shareholders. Ernst & Young Global Limited and Mcdaniel & Associates Consultants Ltd acted as accountant, Torys LLP, Lawson Lundell LLP and HEUSSEN acted as legal advisor to Tenaz Energy Corp. ATB Financial provided financing for the transaction. Duco de Boer and Willem Beek of Stibbe N.V. acted as legal advisor to XTO Netherlands, Ltd.

Tenaz Energy Corp. (TSX:TNZ) completed the acquisition of XTO Netherlands B.V. from XH, LLC on July 3, 2023.