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 Presidio Oil Co. said 
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it signed a definitive agreement
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 to acquire Gulf Canada Resources Ltd. 's U.S. unit for $163 million.
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 Presidio, a Denver oil and gas concern, said 
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it will acquire the properties and operations of Home Petroleum Corp.,
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 which includes two regional gas-gathering systems and proved reserves of about nine million barrels of oil and 72 billion cubic feet of natural gas.
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 Presidio said 
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the properties are generally situated in Wyoming, North Dakota, Texas, Oklahoma and Louisiana.
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 Gulf Canada, Calgary, said 
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the transaction is part of its plan 
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to sell non-strategic assets 
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and focus operations on Canada, Indonesia and other international areas.
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 A spokesman for Gulf Canada,
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 which is controlled by Toronto's Reichmann family, 
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said 
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the properties account for about 6% of the company's assets 
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and produce about 5,000 barrels of oil and 35 million cubic feet of gas a day.
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 He said 
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Gulf Canada will likely report an extraordinary gain from the sale in the fourth quarter, 
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but he wouldn't offer a specific estimate.
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 The transaction is expected to close by Nov. 30.
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