Renegade Petroleum has entered into an agreement with a publicly traded oil and gas issuer to acquire certain assets in the Senex area of northern Alberta for cash consideration of $11.0 million.

The land is contiguous to the Company's recently announced land purchased in the Senex area and will expand the Company's land position in the Slave Point play by 19 net sections.

The land is strategic to Renegade as the Company now controls the majority of the Slave Point reef complex in the Senex area. The Strategic Acquisition brings the Company's total prospective land to 51 net sections (over 32,000 net acres) in the Slave Point play. The Strategic Acquisition also includes key processing facilities, infrastructure, storage capacity as well as access to an all-season road which will allow Renegade to accelerate full scale development of its drilling program by up to 12 months.

Tags: Renegade Petroleum Ltd.