Kelt Exploration Ltd T.KEL

Wembley/Pipestone LaGlace Full Disclosure $$

[MyHoneyPot]

Oldnagger uploaded this image of the Land Position of Wembly/Pipestone LaGlace from the BOE REPORT, and guess what Kelt has a lot more land then they highlight in their investors presentation.

The report also show land being transition to Kelt the was previously held by brokers.

Ah Ha, this play is a lot bigger than we thought.



Now this is the kelt map you want to compare it to. 

Page 32 Kelt/Wembley/Pipestone/LaGlace Link

So all i can say is that they have more acreage than they have disclosed on the map in their presention and they have a lot more land in the area. 

I believe that i felt the land position was about 3.34 times as big as the Nuvista's pipestone play NVA they bought for 625 million dollars, all i can say is that it just got a whole lot bigger.

To put some icing on the cake is Kelt put 20 million in 2024 budget for land acquistion, and i could see a lot of opportunistic purchases here. 

Likely the best undeveloped deliniated liquids rich Montney opportunity on this planet. 

IMHO

[PabloLafortune]

Wembley is 136,693 net acres per Kelt's annual information form.  What's really interesting to me is to compare Wembley with ARC Kakwa. ARC has disclosed that Kakwa represents 41% of their proved and probable undeveloped reserves or 490 MM boe. They've also disclosed that their total 7 year proved undeveloped reserves are 683 MM boe. If we apply 41% to that, we arrive at 280 MM

[Oldnagger]

Thanks MHP and Pablo for all the very interesting work you both have been doing for such a long while on this company (and others). I believe that low nat gas prices have led to incredible deals in the Patch . For those of you who remember the 2020 -21 bargains, you are now about to be rewarded once again !!

[PabloLafortune]

Thanks Old. It feels like a deserted island out here. We're either both completely wrong or Bay Street has it all wrong.

[Oldnagger]

You can only make money when Bay Street has it all wrong. Wise men follow the paths they have carved out for themselves , and you are doing an excellent job !!