RE:RE:RE:RE:RE:RE:RE:ARC Q3 2023 vs Q3 2021
Investing in KELT that had a NAV at the end of 2022 of $17.87, i think it is trading at a discount to NAV.
Wembley/Pipeston a play that is more than 63% liquids, 120 acres and with about 24,000 acres of charlie lake is currently ramping up waiting for plant. 140 acres in a single footprint and real alberta montney resouce play. I discount BC plays because of the huge geopolitical risk.
The (Wembley/Pipestone Charlie Lake) play is currently producing with 37 MMcf gas processing 60% liquids, at year end gas processing will increase to 59 MMcf 60% liquids year end, and increase again to 109 Mmcf (60% Liquids) Q4-2024.
So this is a resouce play that any major would like to own, and it looks like their going to get there ahead of Arx resource, with a play that represents a better resource, in a better jurisdiction
Real buying opportunity at this price, and i am not concerned about its value, it is just not a good investment for the reitirement folk.
Arx just has so many reasons no to pay share holders, first bad hedging, then deb targes, now they want to buy back 50% of their shares, and then Terry's Attachie a pet project.
No growth, high taxes, increased op costs, expensive management, bloated work force.
Is there anything else good to say.
IMHO