12/11/2012 - 9:52 AM EST - Bonterra Energy : has made an offer to acquire all of the issued and outstanding common shares of Spartan Oil, in which the shareholders of Spartan will receive 0.1169 of a common share of Bonterra for each Spartan share held. Based on Bonterra's December 10, closing price, this equated to $5.35 per Spartan share, a 20% premium to the Pinecrest Energy offer. Bonterra has also proposed to increase its dividend to 28 cents per share from 26 cents per month beginning in March 2013. Bonterra Energy
shares T.BTE are trading up $0.04 at $45.07.
