Charger Energy Corp, Pace Oil & Gas Ltd. and AvenEx Energy Corp. to form Spyglass Resources Corp. ('Spyglass'). Pace, AvenEx and Charger also announced that they have agreed to set the initial Spyglass monthly dividend at $0.0225 per share in order to solidify the sustainability of the Spyglass business model to reflect the current operating and commodity price environments.

The company provided dividends $26 million for the year 2013 and $35 million for the year 2014.

Spyglass provided earnings guidance for the year 2013 and 2014. For the year 2013, Spyglass expects exit production of 18,000 boe/d, average production of 16,000 boe/d, cash flow of $104 million, capital expenditures of $70 - $80 million.

For the year 2013, Spyglass expects average production of 18,000 boe/d and capital expenditures of $90 - $100 million.