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Lycos Energy Inc(LCX-X)
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LYCOS ENERGY INC. ANNOUNCES CLOSING OF PREVIOUSLY ANNOUNCED WYATT RESOURCES LTD. ACQUISITION

Newswire.ca - Fri Sep 1, 2023

CALGARY, AB, Sep. 1, 2023 /CNW/ - Lycos Energy Inc. ("Lycos" or the "Company") (TSXV: LCX) is pleased to announce that it has successfully closed the previously announced acquisition (the "Acquisition") of Wyatt Resources Ltd. ("Wyatt"), a privately held, heavy oil producer. Lycos acquired all of the issued and outstanding common shares of Wyatt for total consideration of $8.8 million, consisting of $6.5 million in cash and $2.3 million of equity. The Acquisition includes current production of 400 boe/d. Significant growth opportunities have been identified on the 12,335 net acres of Wyatt land, including over 20 net drilling locations.

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