Blue Sky Closes Purchase of Remaining 50% Interest in Oil and Gas Assets in BC and Alberta
(TheNewswire)
Calgary, Alberta – TheNewswire - September 11, 2025 – Blue Sky Global Energy Corp. (“BGE” or the“Company”) (TSXV: BGE) is pleased to announce that further to thepress releases issued June 18, 2025, May 13, 2025, July 2, 2025 andAugust 21, 2025, the Company has obtained the requisiteapprovals including but not limited to those from disinterestedshareholders and TSX Venture Exchange, and has closed the purchaseof the remaining 50% interest in the previously disclosed oiland gas assets in British Columbia and Alberta (the “Assets”) from Blue Sky ResourcesLtd. (“BSR”) for apurchase price of $13,000,000 which is paid by the Company to BSR byway of a promissory note with a repayment date of 2 years from thedate of closing with interest accruing at a rate of10% per annum to be paid at the end of each quarter, with thefirst payment to be made as a December 31, 2025 with principalpayments to be made quarterly based on the greater of $250,000 and 50%of the net revenue from production from the Assets, with an option forthe Company to increase principal payments and to pay out thepromissory note at any time before the maturity date (the “Acquisition”).
The Assets consist of:
the remaining 50% working interest in certain oil and gas assetslocated in Northeastern British Columbia, which is the remaininginterest in these assets initially purchased by the Company in May2024; and
the remaining 50% working interest in certain heavy oil and gas assetslocatedintheColdLakeareamadeupofapproximately384hectares(representing100%interest)prospectivefortheexplorationofheavyoil, ofwhich the Companyannounced the purchase of the initial 50% interest inthese assets in the press release dated August 6, 2024.
Trading in the common shares of the Company have been halted sinceannouncement of the Acquisition and resumption of trading is expectedto take place on or about September 15, 2025. No finder’s fees werepaid in connection with the Acquisition.
The Company announces
that Mr. Ilyas Chaudhary, a director nominee who received approval
from shareholders to be appointed as a director of the Company at the
most recently completed shareholders meeting, will not be appointed as
a director at this time as he will not be able to devote enough time
due to other commitments.
About Blue Sky Global Energy Corp.
The Company is a publicly traded entity listed on the TSXV under the
symbol “BGE” with oil and assets in Canada, Indonesia and Belize.
BGE holds a 50% non-operated interest in producing assets in
Northeastern British Columbia. The Company holds a Production Sharing
Contract over the Paus Block with an area of approximately 8,214
square kilometers located offshore East Natuna, Indonesia. In Belize
the Company has a Production Sharing Agreement with the Government of
Belize comprised of approximately 180,000 acres of land in the Corozal
Basin which may hold prospective oil and gas resources, and which so
far includes on discovery, the SBC field.
For Further Information
Blue Sky Global Energy Corp.
Mohammad Fazil
President, Chief Executive
Officer, Corporate
Secretary and Director Email: mofazil@gmail.com
Phone Number: +1 (403) 613-7310
Cautionary Note Regarding Forward-Looking Statements
This press release contains
statements that constitute
“forward-looking statements”. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual
results, performance or achievements, or
developments to differ materially
from the anticipated results, performance or achievements expressed or
implied by such forward-looking statements.
Although the Company believes, in
light of the experience of its officers and directors, current
conditions and expected future developments and other factors that
have been considered appropriate that the expectations reflected in
this forward-looking information are reasonable, undue reliance should
not be placed on them because the Company can give no assurance that
they will prove to be correct. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or
“should” and the negative of these words or such variations
thereon or comparable terminology are intended to identify
forward-looking statements and information. The forward-looking
statements and information in this press release include: information
relating to the Acquisition and the exploration and development
of the company’s assets. Such
statements and information reflect the current view of the Company. By
their nature, forward- looking statements involve known and unknown
risks, uncertainties and
other factors that may cause the actual results and future events to differ materially from those expressed or implied by such
forward-looking statements.
The forward-looking statements contained in this news release represent the expectations of
the Company as of the date of this news release and,
accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking statements and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or
other factors, should change.
NEITHER THE TSXV NOR ITS REGULATION
SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS PRESS RELEASE.
NOT FOR DISTRIBUTION IN
THE UNITED STATES OR OVER U.S. NEWSWIRES
Copyright (c) 2025 TheNewswire - All rights reserved.
