Post by
MyHoneyPot on Feb 22, 2024 8:57am
NAV $22.75 share - ( 27% Increase in 2023)
Kelt is transitioning from a resource deliniation approach to a development approach with Pad drilling.
The 27% increase in the NAV per share, illustrates a crazy discount that the shares are currently trading for.
At wembley production is curtailed because of a gas plant working at 83% of capacity.
Resulting in a 6 Mmcf a day curtailed. (60% Liquids , 2500 boe/day)
Kelt is ramping up, although slower than i would like but it is happening and the reserves are there to support the growth. It sounds like a few plant issues Q1 with Oak and Wembley will impacted by short term plant production issues , but in Q2 i expect they will be closer to their yearly guidance.
Kelt is realy cheap, will take on a bit of debt in 2024 and end the year adding 50 Mmcf of plant at wembley, (50 Mmcf, 60% Liquids = approx 20,000 boe/day) Dec 2024/Jan 2025
Looks good to me.
IMHO