--- title: "Lycos Energy to Acquire Mahikan Oil in All-Share Deal and Raise $30 Million" type: "News" locale: "en" url: "https://longbridge.com/en/news/278194843.md" description: "Lycos Energy Inc. has announced its acquisition of Mahikan Oil Corporation in an all-share deal valued at approximately $49.7 million, including assumed debt. Mahikan will operate as a wholly owned subsidiary, enhancing Lycos's heavy oil resource base with significant drilling opportunities. The deal includes a private placement equity financing aiming to raise $30 million. Leadership will remain with Lycos's current president, while Mahikan executives will take on senior roles. The transaction is designed to align interests of management and investors, with a focus on long-term development." datetime: "2026-03-07T03:38:36.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/278194843.md) - [en](https://longbridge.com/en/news/278194843.md) - [zh-HK](https://longbridge.com/zh-HK/news/278194843.md) --- # Lycos Energy to Acquire Mahikan Oil in All-Share Deal and Raise $30 Million ### Claim 70% Off TipRanks Premium - Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions - Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential The latest announcement is out from Samoth Oilfield ( (TSE:LCX) ). Lycos Energy Inc. has agreed to acquire privately held heavy oil producer Mahikan Oil Corporation in an all-share deal valued at about $49.7 million, including assumed net debt, with Mahikan to operate as a wholly owned subsidiary. The transaction, which is not expected to trigger a change of control under TSXV rules, also coincides with a non-brokered private placement equity financing targeting $30 million in gross proceeds. The combination creates a new operated core area with roughly 45 net contiguous sections of largely undeveloped Mannville rights, providing pad-style drilling opportunities and infrastructure optimization. Mahikan’s land base adds stacked Mannville targets such as Waseca, Sparky, General Petroleum and Lloydminster, underpinned by about 1.44 billion barrels of petroleum initially in place and an identified 698 net drilling locations, supporting long-term development visibility. Lycos will retain its leadership under President and CEO Dave Burton, while integrating key Mahikan executives into senior roles, and the board will be reconstituted with equal representation from both companies. The structure, including staged share release and hold periods for Mahikan shareholders, is designed to align management and investor interests while the combined company advances its enlarged heavy oil resource base. The most recent analyst rating on (TSE:LCX) stock is a Hold with a C$0.90 price target. To see the full list of analyst forecasts on Samoth Oilfield stock, see the TSE:LCX Stock Forecast page. **More about Samoth Oilfield** Lycos Energy Inc., listed on the TSX Venture Exchange, is a Canadian oil and gas company focused on heavy oil development. The company pursues land and inventory-rich assets with significant petroleum initially in place, using disciplined capital allocation, optimized well design and operational execution to enhance asset performance and long-term resource recovery potential. **Average Trading Volume:** 310,994 **Technical Sentiment Signal:** Buy **Current Market Cap:** C$79.32M For a thorough assessment of LCX stock, go to TipRanks’ Stock Analysis page. ### Related Stocks - [HLX.US](https://longbridge.com/en/quote/HLX.US.md) - [IEZ.US](https://longbridge.com/en/quote/IEZ.US.md) - [LEC.US](https://longbridge.com/en/quote/LEC.US.md) - [XOP.US](https://longbridge.com/en/quote/XOP.US.md) - [XES.US](https://longbridge.com/en/quote/XES.US.md) - [OIH.US](https://longbridge.com/en/quote/OIH.US.md) ## Related News & Research - [Trump Says China Agreed To Buy Oil From US](https://longbridge.com/en/news/286561564.md) - [Greenland Energy updates investor deck, cites up to 13.0B bbl prospective resource; OPW‑1/OPW‑6 targeted in 2026](https://longbridge.com/en/news/286753003.md) - [VEGOILS-Palm climbs on stronger rival oils, crude oil](https://longbridge.com/en/news/286756279.md) - [Asia Fuel Oil-Markets pare strength amid tepid demand expectations](https://longbridge.com/en/news/287051717.md) - [IEA chief Birol: commercial oil inventories depleting rapidly, only weeks left](https://longbridge.com/en/news/286746172.md)