Stonehorse Energy Exits US Oil and Gas Sector, Focuses on Canadian Development

Stonehorse Energy has completed its exit from the US oil and gas sector by selling its Lone Star Exploration and Production business to Brookside Energy. The consideration for this sale includes a parcel of Stonehorse shares previously held by Brookside, which will be disposed of over time to strengthen the company's capital position.

With this transaction now complete, Stonehorse is redirecting its resources towards the Drumheller development programme in Alberta, Canada. This move reflects the company's strategic pivot, positioning onshore oil and gas development in the region as its core focus.

The company has cited the established infrastructure in Alberta, including existing pipeline and processing networks, as a key factor in its decision to concentrate on this single programme.