Prairie Provident Resources Inc T.PPR

Alternate Symbol(s): PRPRF

Energy Oil & Gas E&P

Prairie Provident Resources Inc. is a Canada-based oil and natural gas exploration company. The Company is engaged in the exploration and development of oil and natural gas, with conventional operations primarily focused on the Western Canadian Sedimentary Basin in Alberta. Its operating areas include Michichi, Princess and Evi. Its assets primarily consist of light and medium oil associated natural gas. The Company is primarily focused on development of its Wheatland and Princess properties in Southern Alberta and its Evi area located in the Peace River Arch area of Northern Alberta. Its Princess area in Southern Alberta is engaged in the development of the Glauc and Ellerslie formations. The Company's assets cover approximately 375,000 acres of area in Alberta. Its wholly owned subsidiaries include Prairie Provident Resources Canada Ltd., Lone Pine Resources Inc., Lone Pine Resources (Holdings) Inc., Arsenal Energy USA Inc. and Arsenal Energy Holding Ltd.

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Prairie Provident Resources Inc > Debt/Production can be better

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Comment by filefishon Jun 24, 2021 11:34am

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Post# 33441498

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Debt/Production can be better

If management was as good as mediocre, they wouldnt have made this stupid decision , effectively crippling revenues in the face of higher oil prices:

Subsequent to March 31, 2021, the Company entered into the following commodity derivative contracts:
Crude Oil Collars January 1, 2023 - March 31, 2023 US$ WTI 1,100 $35.00 / $40.00/ $50.00

Amameal wrote:
No, it is such a bad idea to dilute at the current price level. We have a market cap of 8 million. A mere 10% of debt will take away over 50% of equity from existing shareholders. It exactly is what lousy management will do.

The way to success is to continue to reduce the cost. Increase production as fast as possible and do a little more hedge when WTI price hit $85.

Anyway, at the wave of rising oil prices, mediocre management will do the job.