B-32 EXPLORATION ANNOUNCES $20 MILLION FINANCING

CALGARY, Alberta, April 12, 2021 - B-32 Exploration Ltd. (“B-32” or the “Company”) is pleased to announce it is proceeding to raise $20 million. The funds will be immediately deployed to drill and complete two Duvernay oil wells which will set the stage for full scale development of the company’s 220 section blocks. The company has identified over 450 potential locations, with each location having an NPV 10% of $10+ million at flat $60WTI.

 

Since 2018, B-32 has identified and captured 220 sections of prime Duvernay acreage in the Greater Kaybob Basin and are now ready to harvest the next world-class unconventional oil play that has quickly transformed from exploratory to development. The acreage is located in a well defined “sweet spot” which is characterized by high TOC, 50% over-pressure and 39° API sweet oil. Directly offset B-32’s land, Hitic Energy has a producing oil well and three wells waiting on completion. Further to the south in the Kaybob Basin, Murphy Oil Corp. has successfully drilled and completed 28 basin leading oil wells with a 100% success rate. Most recently Crescent Point Energy and Kiwetinohk Energy have expended more than $1 billion in acquiring production in the Kaybob basin.  

 

B-32 Exploration has an experienced management team with a strategic plan to maximize the value of this world class asset while at the same time mitigating risk. To be part of the story contact any member of the management team for more information in how to participate in this exciting opportunity!