Crew Energy Inc T.CR

2023 Reserves Release

[gonatgasgo]

It will be announced after the market close on Thursday Feb. 8.

Do you believe  it will have an impact on the stock price or not?

However, I feel Crew will release their 2024 outlook at the same time.  That one might be more market moving.

I would appreciate hearing what you think.

[upinmuskoka1]

The fact that no insiders have bought stock makes me think something big is in the works. A takeover, merger, land sale, something big.is goingto be announced. Or maybe insiders know the big news will be bad and are not buying till after the announcement and the stock craters even more. You can be sure insiders have known for a while what direction CREW will be heading.  I just can't

[upinmuskoka1]

As per my previous comment the upcoming news might not be good. Just got this from Nugget Capital Partners and their weekly substack CREW ENERGY (TSX: CR)     While we think Crew Energy is a very good company and the remaining prize for smallcap Canadian M&A targets, we also think the company is in some trouble

[gonatgasgo]

These guys used to like Crew.  Crew never puts the most recent level of debt in their presentation unless the quarterly results have been released.  So I am not surprised they are showing Sept. rather than December. The Q4 2023 results will be good due to high condensate production and hedging.  I am more concerned about the 2024 outlook.  Will they cut nat gas production? &

[PonyBoyOutsider]

I'm not sure I agree with Nugget Capital Partners that Crew has a "significant cash flow negative situation and near term debt build" there may be some, but, as I recall they were aware of market conditions and planned their pivot to condensate over several quarters. Further, I think they had some DUC's in the West Septimus that they completed and brought on line, or am I

[Oldnagger]

The addition of an incremental 4 kbpd of condensate recovery should occasion a significant increase in proved reserves evaluation . Depending on whether or not any of the Tower production was tested before year end , that may also have a significant effect.  The highly manipulated stock market may not place a high value on Assets , but I am convinced that Crew' s management does .That

[gonatgasgo]

We all know condensate production was 7,000 at the end of 2023.  We also know there were a number of new wells brought on-line at that time, so the decline rates are quite high for new wells.  As a result, without bringing new wells in early 2024, production could not stay at that level. As for DUCs, I never understand why not to bring these wells on-line as soon as possible. 

[gonatgasgo]

Nugget Capital made a number of good calls, and they seem to be able to time the market fairly well. However, on their comment on Crew (attached below) "Unquestionably, the company is quickly building debt to ramp up condensate activity as natural gas prices tanked." Well, net debt went from $125M at the end of Sept. to $117M at the end of Dec. "we think it would be wise for