The Red Earth oil producing asset was acquired in November 2020 (subject to settlement) and Alberta Plains oil producing asset acquired in January 2021.
Both assets were cashflow positive based on the oil price at the time of purchase. The oil price has jumped since then. Both assets are highly leveraged to an increase in the oil price.
AND
Workovers recently commenced at Alberta Plains to increase oil production. Red Earth due to settle shortly and workovers will commence there as well.
Increased oil price + increased oil production = increased ca$$$$$hflow
Market will twig soon imo
HUGE UPSIDE IN 2021 & BEYOND, page-599
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| Open | High | Low | Value | Volume |
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