Ryland Oil Announces Sale of Company to Crescent Point Energy Corp.

Ryland Oil Corporation (TSX VENTURE:RYD) announced that it has entered into an arrangement agreement with Crescent Point Energy Corp. pursuant to which Crescent Point will acquire all of the issued and outstanding common shares in the capital of Ryland by way of a plan of arrangement.

The press release is quoted as saying:

Under the terms of the Arrangement, Ryland shareholders will receive 0.0117 of a Crescent Point common share for each Ryland Share, or approximately $0.46 per Ryland Share based on the most recent 5 day volume weighted average Crescent Point share price of $39.32 per share

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