09:42 AM EST - NuVista Energy Ltd. : announced that it has entered into an agreement to acquire certain properties located in the Martin Creek area of northeast British Columbia and in northwest Alberta. The acquisition price, payable in cash, for the acquired properties is $176 million prior to closing adjustments. The acquisition has an effective date of April 1, 2009, and is expected to close on July 24, 2009. The acquisition price will be funded through a combination of existing bank debt and the net proceeds of two equity offerings. NuVista has an existing credit facility of $450 million under which approximately $350 million is currently drawn. Following completion of the acquisition of the Acquired Properties, NuVista anticipates its credit facility will be increased to over $500 million. NuVista Energy Ltd.
shares T.NVA are trading even at $11.26.
