Waterous Energy Fund Management Closes Acquisition of 43.3% Stake in Greenfire Resources

Woodbridge Ventures II Inc. Amends Business Combination Agreement to Acquire/Combine With Greenflame Resources Inc.

July 14, 2026

Energy

Woodbridge Ventures II Inc. has entered into an amending agreement to modify its previously announced business combination agreement with 2771367 Alberta Ltd. (Subco) and Greenflame Resources Inc. The amendment extends the outside date for completion to December 31, 2026 and updates the contemplated private placement of Greenflame shares and the definition of “Greenflame Options.”

Greenfire Resources to Acquire Connacher Oil and Gas for C$1.277 Billion

July 14, 2026

Energy

Greenfire Resources Ltd. entered into a definitive agreement to acquire all issued and outstanding shares of Connacher Oil and Gas Limited for approximately C$1.277 billion in cash. The transaction is expected to close in August 2026 and will be financed through a mix of upsized reserves-based debt and a C$575 million bridge facility to be repaid via a planned rights offering supported by Waterous Energy Fund.

Waterous Energy Fund Purchases Shares of Greenfire Resources Ltd.

November 14, 2025

Energy

Waterous Energy Fund Management Corp., acting for certain Waterous Energy Fund III partnerships, purchased 1,926,055 common shares of Greenfire Resources Ltd. in a private transaction for C$6.65 per share (C$12.81 million), increasing its ownership in Greenfire to approximately 71.1% on an undiluted basis. The purchase represents an incremental strategic investment by Waterous to consolidate its position in the Calgary-based oil sands producer.

Waterous Energy Fund Acquires Majority Stake in Greenfire Resources Ltd.

November 12, 2025

Oil & Gas

Waterous Energy Fund Management Corp., acting for Waterous Energy Fund (WEF), purchased 8,703,479 common shares of Greenfire Resources Ltd. for C$6.55 per share (C$57.0 million), increasing its ownership to approximately 68.3% of Greenfire on an undiluted basis. The private transactions gave WEF majority control of the Calgary-based oil and gas producer; WEF said it will continue to review its investment and may take further actions with respect to Greenfire's securities.

Fusion Fuel Green Acquires Controlling Stake in Quality Industrial Corp.

November 26, 2024

Energy

Fusion Fuel Green plc (NASDAQ: HTOO) completed a share-exchange acquisition of approximately 70% of Quality Industrial Corp. (QIND), appointing John-Paul Backwell as CEO and reorganizing senior leadership to support expanded energy engineering and hydrogen solutions. The transaction aims to strengthen Fusion Fuel’s engineering, supply and services capabilities in renewable energy and industrial gas markets; certain post-close approvals and a Nasdaq listing appeal remain outstanding.

Waterous Energy Fund / Strathcona Acquires Caltex Resources Ltd. and Tucker Thermal Oil Property

March 14, 2022

Oil & Gas

Waterous Energy Fund (WEF) closed its fourth capital raise (~C$345 million) to fund the acquisitions of Caltex Resources Ltd. and the Tucker thermal oil property, and amalgamated those assets with Strathcona Resources Ltd. The combined entity will continue as Strathcona Resources (100% owned by WEF and Strathcona employees), creating one of North America’s largest private oil companies with pro forma production of ~110,000 Boe/d and 1.9 billion Boe of proved-plus-probable reserves.