Templar Energy and Le Norman Fund I Announce the Acquisition of Forest Oil Texas Panhandle Assets

  Templar Energy and Le Norman Fund I Announce the Acquisition of Forest Oil
                            Texas Panhandle Assets

PR Newswire

OKLAHOMA CITY, Oct. 4, 2013

OKLAHOMA CITY, Oct. 4, 2013 /PRNewswire/ --Templar Energy LLC and its wholly
owned operating subsidiary, Le Norman Operating LLC, (the "Company") and its
joint venture partner Le Norman Fund I LLC, today entered into a definitive
agreement to buy oil and gas assets in the Texas Panhandle Region from Forest
Oil Corporation for $1.0 billion (subject to customary purchase price
adjustments and certain closing conditions). The transaction is expected to
close on or before November 25, 2013 with an effective date of October 1,
2013.

Upon completion of the transaction, the Company and Le Norman Fund I
collectively are expected to produce in excess of 20,000 net BOEPD with an
estimated proved reserve base of net 145 million BOE. The resource potential
for the Company and Le Norman Fund I would exceed net 750 million BOE. All of
the Company's reserves are focused in the greater Anadarko Basin located in
northwest Oklahoma and the Texas panhandle.

David D. Le Norman, President and CEO, said, "We look forward to this addition
to our asset base in our core operating area. With our experienced team of
professionals, we will continue to apply our expertise in horizontal drilling
and completion technology gained over our many years of operating in the
region. The Company has to date focused on the development of geologic
targets containing significant oil and high liquid yielding natural gas, and
will continue to do so across its expanded, opportunity-rich property set.
The Company's equity providers, First Reserve, Trilantic Capital Partners,
Cohesive Capital and the management team, coupled with a strong commercial
banking team, will enable us to significantly enhance value through the active
development of our resources, as well as through strategically increasing our
inventory."

Barclays Capital Inc. served as advisor to the Company with respect to the
transaction. Templar Energy LLC has obtained financing commitments from
Citigroup Global Markets Inc. and its affiliates, B of A Merrill Lynch,
Barclays Bank plc, Morgan Stanley Senior Funding, Inc. and Natixis, New York
Branch in connection with the transaction. Le Norman Fund I LLC was funded or
has obtained financing commitments from Le Norman Properties, LLC, David D. Le
Norman, and Carlyle Energy Mezzanine Opportunities Fund, L.P.

4727 GAILLARDIA PARKWAY, SUITE 200
OKLAHOMA CITY, OK 73142
MAIN (405) 241-1838 / FAX (405) 241-1820

For Further Information Contact:
David D. Le Norman, President
405-548-1200
ddl@lenorman.net

SOURCE Templar Energy LLC
 
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