Painted Pony Pete Ltd PDPYF

Buyer is most likely Black Swan

[Don2018]

The Beg and Jedney properties were always something PONY might never get to, so it makes sense that they would sell some land up there, and it fits perfectly with Black Swan's land base.

[ValueCan1]

If it is Black Swan that’s great.  The Black Swan listing of officers and directors indicates some very smart and possibly very large money waiting in the wings.   See presentation at Blackswan website, very optimistic.  Also interesting to see Pension funds getting interested in Altagas Canada today.

[roscoe74]

When Repsol bought Talisman the technical team, headed by Tim Defritas, formed Manitoc, left and formed Ikkuma, now sold to Pieridae while the executive team joined with PE to form privately held Black Swan. There are some very deep pockets behind Black Swan and when the time is right, they will make a M+A move, buying or selling. In the meantime, all the Montney producers are refining their

[Don2018]

I was hoping Black Swan would take all of Beg and Jedney, but if they take one bite at a time, we will likely get a far higher price/acre than if they made an offer for the whole package. So I am more than ok with this sale. While we did a little exploratory drilling up there, it would be a long time before we developed it ourselves. So may as well cut some debt by selling an asset we don't

[wateroperator]

This post has been removed in accordance with Community Policy

[Don2018]

Real intelligent post. If PONY sold all of Beg and Jedney, which we don't need, we wouldn't have any debt. Chew on that, ahole

[Sudirman2]

Problem with selling Beg and Jedney , which we dont need, is that nobody needs them either.  More gas than anyone knows what to do with, including Black Swan. They state that they could be 2 bcf /d on existing locations. Find it hard to beleive they are the buyer.   On the bright side, AECO now trading at levels that actually make money.   

[Rocko58]

Hey Sudirman, do you know what Black Swan and P. Pony do with that excess gas? They convert it to propane and ship it via rail to their business partner ALTA who sells it to Asia for better margin.         You see,  some companys know what to do!!

[Sudirman2]

They convert methane into C3??? I believe you are thinking of Rumplestiskin.   No, that doesnt happen. 

[GunnerG]

LOL, it was a strange comment.

[Sudirman2]

To be clear, my Rumplestistkin comment was in response to the alchemy claim by Rocko.   For the record, it can be done, but nobody does, because it is ridiculously complicated and massively uneconomic. 

[Rocko58]

Sudirman, what part of the PR mentions methane.  The Montney is a large deposit of sweet natural gas.  And Pony & B Swan indeed work with Alta to ship propane to Asia out of Prince Rupert.

[roscoe74]

Hint: Natural GasES

[YodaLayhehoo]

Didn't altagas buy blackswan? Last year sometime

[Sadie222]

Not quite. JV on processing facilities to secure supply for RIPET.

[roscoe74]

I speculate that the synergies of a Pony + AltaGas + Black Swan financial arrangement of some sort will create a powerful entity that is more of a price maker than a price taker but Pony hasn't the capital, AltaGas is still in the doghouse for its US utility takeover and the very deep pockets behind BS also have very short fingers when faced with paying the price the Pony board will accept for

[Sadie222]

“Natural gas” as pulled out of a well is a mixture of different gases. Methane, propane, butane, pentanes, condensates.... Methane is what you heat your house with, and what is compressed into LNG. It is NEVER “converted”, as you said, to propane for export or anything else. Just as gasoline is extracted from crude oil, propane is extracted from natural gas.

[Sudirman2]

Sadie, thanks for stepping in. Was going to respond on the methane/propane conversion , but figured  my 6 year old had logged into   Stockhouse and was posting comments under the Rocko psuedonym.