Post by
nozzpack on Jan 05, 2022 2:16pm
Quebec E and E Assets
These exploration and evaluation assets were valued at cost of $102 million in 2020.
They Will certainly get their costs plus interest returned in compensation plus an unspecified amount cash for the magnificent gas reserves .
From this perspective , getting less than $70 million compensation for its Utica gas seems very modest to me , but $175 million in cash can do a lot for the current assets.
Take their western Canada producing assets which are capable of 6000- 8000 bod of production compared to just 1350 currently.
Much needed workovers and resumption of well drilling can then be quickly funded.
Even with that, we shall still exit 2021 with revenues close to $29 million and cash flows of about $16. Million.
Comment by
nozzpack on Jan 05, 2022 4:07pm
My apologies. Questerre bought another substantial block of Utica in Quebec later in 2020, so their total investment would be $102 m plus $11 m plus accrued interest . I have no idea as to accrued interest but it won't be far off $175 m..