The NEW AEI at C$1.50 is a BARGAIN Pro forma these two deals, AEI's Enterprise Value is just C$32 million (C$29 million Mcap + C$3 million remaining long term debt) at C$1.50 per share.
It produces 1,250 boepd (85% oil) and holds 5.2 MMboe (heavily oil-weighted) 2P reserves.
So this oil-weighted producer trades at just C$25,600/boepd and C$6.15/boe of 2P reserves. So it's the cheapest oil-weighted producer in North America. Even the distressed oil-weighted producers in the US have higher key metrics than AEI.
And it has ample liquidity too.
And its prolific Princess properties host cheap and highly economic oil-weighted wells even at the current strip pricing according to the company's news and Presentation. Its oil-weighted wells in the Princess area cost only ~C$1.2 million.
And it has additional volumes behind pipe because it has not completed all the wells yet, according to its news.