PE-backed InPlay Oil to combine with Anderson Energy

Calgary energy producer InPlay Oil Corp, a portfolio company of Canadian private equity firms JOG Capital and Sprott Resource Corp, has agreed to combine with Anderson Energy Inc (TSX: AND). The deal will entitle InPlay and Anderson shareholders to receive equity in the new company, also called InPlay Oil Corp. With the deal's closing, JOG's Donald Cowie, Sprott Resource's Steve Yuzpe and other investor representatives will serve on the new board. InPlay also announced its buy of Cardium light oil assets in Alberta's Pembina region for $47 million. It plans to use the proceeds of a $70 million private placement offering to fund the acquisition and other priorities.

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