Talks have re-opened as a group headed by a Calgary dentist tries to buy the Flint Energy Services operation north of Halkirk.
“We are looking at putting in another offer,” said Dr. Roger Watson, who heads investment group Dentrix Inc.
Earlier this month, an offer from Dentrix to buy the operation from Flint’s U.S. parent company, URS Flint, was rejected one day after the offer was submitted.
But it’s not the only offer Flint has recently received, a company spokesman said Tuesday.
“We have more credible offers on the table that we are reviewing,” said Guy Cocquyt, vice-president of communications with Flint, based in Calgary.
Watson said this week that a Flint official contacted him to advise that the company was interested in receiving another offer from Dentrix, which records sales of $150 million a year with companies in manufacturing and distribution.
“At least we’re talking,” Watson said this week.
Now, Dentrix plans to submit another offer through a letter of intent as an initial step to send a purchase and sale agreement, he said.
Watson said he expects a response from Flint by mid-August.
He said Dentrix is prepared to inject at least $600,000 into the company and to take over the lease, worth $1 million, and to hire all of the employees at the operation, which manufactures equipment for oil and gas production.
Flint bought the business from Paintearth Energy Services in March 2010 for $6.3 million.