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SUBSIDIARY NAME

Surmont Energy Ltd

COUNTRY

Canada

SECTOR/ INDUSTRY

Oil & Gas

OWNERSHIP %

70% IIB-DG

ACQUISITION DATE

November 18, 2022

ACQUISITION VALUATION

477 MILLION

TOTAL ASSET VALUATION

4.7 BILLION

Oil & Gas

Surmont Energy Ltd: Surmont Energy Limited is a privately held oilsands company founded in 2011, headquartered in Calgary Alberta. The investment is for Surmont’s Wildwood Project where Phase I is investment ready complete with regulatory approval. Phase I is based on regulatory approved production cap of 12,000 bpd. The current land position and available resources has potential to support production growth to 30,000 bpd.

SUBSIDIARY NAME

Woodland Development Group Ltd.

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