SOURCE ROCK ROYALTIES ANNOUNCES ADDITIONAL ALBERTA CROWN MINERAL LEASES

Executive Summary

• Source Rock Royalties announced the joint‑acquisition of an additional 31 sections (19,840 acres) of Alberta Crown mineral rights under its Leasing JV partnership.
• The new leases consist of 15 sections (9,600 acres) of 15‑year oil sands leases and 16 sections (10,240 acres) of 5‑year petroleum & natural gas (PNG) leases, all held 50% by Source Rock.
• The acquisition expands the company’s undeveloped land base, providing near‑term drilling exposure and long‑term upside through potential farm‑out arrangements.

Key Details

• Leasing JV Structure: Joint‑acquisition agreement with a private company (“JV Co”) led by a professional geologist; Source Rock holds 50% of all acquired leases.
• Lease Portfolio Added:
• 15 sections (9,600 acres) – 15‑year oil sands leases.
• 16 sections (10,240 acres) – 5‑year PNG leases.
• Total added: 31 sections (19,840 acres).
• Geographic Focus: Mineral rights prospective for heavy‑oil horizons within the Mannville Stack; targeted for multi‑lateral drilling technologies.
• Strategic Rationale:
• Build an undeveloped land base that can be farmed out to operators in exchange for royalty interests.
• Provide exposure to near‑term drilling by high‑quality operators and long‑term upside via early‑stage entry into less developed areas.
• Future Plans: Parties will continue evaluating, posting for leasing, and bidding on additional Crown mineral leases.

Notable Quotes

(No direct quotes were provided in the release.)