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Ann: Montney Gas and Condensate Re-testing Program to Commence, page-28

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monark

7,877 Posts.

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19/01/23

08:01

Post #: 65764393
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Originally posted by invertedva: ↑

I'm really glad they are doing this. We were so close last time, but the money ran out and the gas price was very low.
Now, the macro-conditions are far more favourable and we can fund re-testing out of FCFs. Completely different context.

They've tried to look for buyers, but they clearly want more information before offering a price CE1 would be willing to accept, or have simply been low-balling. Best way to prevent low-balls is to work the asset ourselves.

And look at those reserve and resource estimates. While we are doing well drilling low cost oil wells, for me the development (or sale) of Montney offers the real hope for 2-3x returns in the next year or two.

Very happy with this announcement.

Oh, and very little waiting. Re-testing to occur within the next month or two.

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In ground value of 160 M Boe ?? circa $16 billion resource.
100% owned and term sheets coming !

CE1 Price at posting: 14.5¢ Sentiment: Buy Disclosure: Held
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