March 20 (Reuters) - Journey Energy Inc JOY.TO :
* Journey Energy Inc. Reports its 2016 financial results, announces strategic acquisition, and updates 2017 guidance
* entered into a agreement with a private company to acquire interests in our central Alberta core for an aggregate price of approximately $35.6 million
* Says journey achieved production of 8,505 BOE/D (49% liquids) in q4, representing a 4% decrease from Q3 levels
* agreement consists of comprised of $29.6 million of cash and 2.1 million common shares of journey
* Says journey realized net income of $1.13 per basic and diluted share in Q4
* sees annual average production 10,100 BOE/D - 10,500 BOE/D
* upon closing of acquisition, co anticipates to be drawn approximately $70 million on its existing $90 million syndicated credit facility
* revised 2017 forecasted funds flow from operations of $50-54 million is based upon following average prices Source text for Eikon: Further company coverage: JOY.TO