Ranger Energy Ltd. (“the Corporation”), is a junior oil and gas exploration Company, with operations in central Alberta.
On August 10, 2011, the Corporation entered into a business combination agreement with North Sea Energy Inc. (“NSE”) under which Ranger will combine with NSE through the issuance of common shares of Ranger in exchange for all of the issued and outstanding shares of NSE. The transaction, when completed, is intended to be a reverse take-over.
NSE, along with its wholly owned subsidiaries, is an independent oil and gas company formed in February 2007 with a strategy of building a portfolio of exploration, appraisal and producing assets in the UK North Sea. Currently, NSE is producing light oil from the Jacky field, located in the Inner Moray Firth of the Scottish coast. NSE is evaluating the development of its Polly field, located 2.5 km SE of the Beatrice Field and is activly investigating other exploration and appraisal targets in the UK North Sea.