Tamarack Valley rises on deal to sell remaining non-core assets for $81.21 million

Shares of Canada-based oil and natural gas company Tamarack Valley Energy TVE.TO up ~1% at C$6.16

Co will sell its remaining non-core producing assets in Veteran Consort and Eyehill areas of eastern Alberta for C$112 million ($81.21 million) before closing adjustments to a private company, TVE says

Deal reduces TVE's asset retirement obligations by C$63 million

Through deal, TVE completes its transformation into pure-play Clearwater and Charlie Lake producer

"In our minds the sale makes sense, with the proceeds set to be allocated to more attractive projects within the Clearwater, over time," RBC says

Transaction is expected to close in October

Including session's moves, stock up ~28% YTD

($1 = 1.3791 Canadian dollars)