CALGARY, Alberta, Aug. 10, 2015 (GLOBE NEWSWIRE) — Toscana Energy Income Corporation (“Toscana Energy”) (TSX:TEI) is pleased to announce that it continues to build its royalty revenue stream through the acquisition of an $11,500,000 Gross Overriding Royalty (“GORR”) over a five (5) well drilling program in northwestern Alberta. Toscana Energy’s GORR will be generated via drilling infill locations over a proven Montney reserve base. Royalty rates will range from 8 -12% over these wells.
About Toscana Energy Income Corporation
Toscana Energy is a conventional oil and gas producer with the mandate to acquire high quality, long life oil and gas assets including royalties, non-operated working interests and unitized production for yield and capital appreciation. Toscana Energy is managed by Sprott Toscana through Toscana Energy Corporation. Sprott Toscana is a member of the Sprott Group of Companies.
For further information, please visit our website at www.sprott-toscana.com or contact:
Joseph S. Durante, Chief Executive Officer
Tel: (403) 410-6793
Fax: (403) 444-0090
Source: Toscana Energy Income Corporation
Toscana Energy Income Corporation