Contact Exploration acquires Columbia Natural Resources Canada
On November 20, 2006, Contact Exploration Inc. announced the acquisition of all of the issued and outstanding shares of Columbia Natural Resources Canada Limited ("CNR"), a private company. The consideration paid was a combination of cash and assumption of liabilities.
CNR owns oil and gas rights over approximately 90,000 acres located in New Brunswick, in close proximity to Contact's Stoney Creek project.
Contact Exploration is a junior exploration company with a focus on Canadian East Coast onshore exploration. Contact's land claims and holdings are located in close proximity to the largest consumption markets in North American with pipeline and refinery infrastructure in place.
Fasken Martineau advised Contact in this acquisition with a team comprised of Rod Ferguson and Hugoline Morton.