Pieridae Energy Ltd T.PEA

Problems with the Waterton Carbondale pipelines and wells

[msawyer5]

Does anyone here know what’s happening with the Screw Driver Creek pipeline and the two wells (WT-61 and HT-10-7) that Pieridae is connecting to the Screw Driver Creek pipeline? Pieridae is currently in the process of suspending the two wells even though they were just prepared to begin producing into the Screw Driver Creek pipeline (the wells were shut-in after a catastrophic pipeline failure in 2010). Why would they do that?

Pieridae has also just completed several test digs on the Screw Driver Creek pipeline and found corrosion of up to 47 percent… Resulting in Pieridae needing to conduct testing for corrosion on the entire Screw Driver creek pipeline.

On the face of it, Pieridae needs to produce the gas from those two wells for cash flow reasons, has already spent a lot of money to build a 600 meter sour gas pipeline connecting the wells to the Screw Driver Creek pipeline but is now faced with the prospect of numerous and costly repairs to the Screw Driver Creek pipeline or possibly complete replacement. In the meantime, the gas behind these two wells is again suspended…

Does anyone know WTH is going on?

And can Pieridae afford this problem?

[Zach88]

You should provide your sources

[msawyer5]

Zach88 et al... My primary source is a December 11, 2023 response by Pieridae to an information request from the AER...