Masters Energy Inc. is an Alberta-based corporation engaged in the acquisition, exploration and development of petroleum and natural gas reserves in western Canada. Masters’ common shares are listed on the Toronto Stock Exchange under the trading symbol "MSY".

Masters’ strategy is to create value through the exploitation of the Little Bow property with the implementation of a tertiary recovery flood, pursue exploration prospects outside the core areas and the strategic acquisition of additional properties. Masters targets areas and prospects that it believes can result in meaningful addition of reserves and production. Masters is focused on unlocking the value inherent in its existing asset base, which includes approximately 100,000 net acres of undeveloped land. Masters is also focusing on expanding its existing asset base through crown land sales, farm-ins, farm-outs and acquisitions that are viewed as strategic.
 
Generally, new areas will be developed based on these criteria: corporate skills, experience, fit with existing asset base and the potential to add to shareholder value. Masters will focus on developing new activity in areas with natural gas and light oil prospects.
 
 

Masters Energy Inc. was formed in August 2003 by the management and staff, subsequent to the sale of Sunfire Energy Corporation to Tusk Energy Inc.

2003

October/November – complete $17.8 million private placement of 8.9 million special warrants

December – acquire Little Bow property for $7.0 million

2004

February – issue 5.5 million common shares to acquire and amalgamate Terraquest Energy Corporation

March – commence trading common shares on TSX

2005

April – acquire North Peace River Arch properties for $7.6 million

2006

April – issue common shares on a flow through basis for total proceeds of $6.1 million 

September – sell non-core assets for $6.2 million

2007

June – Little Bow tertiary recovery study completed