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Prairie Provident Resources Inc T.PPR

Alternate Symbol(s):  PRPRF

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.


TSX:PPR - Post by User

Comment by Thor44on Mar 11, 2022 7:47pm
292 Views
Post# 34508305

RE:RE:RE:RE:Non- core property sale $ - any ideas?

RE:RE:RE:RE:Non- core property sale $ - any ideas?Mimi left because she was fired.  Who fires a CFO 3 weeks before financials are complete?  Word on the street is things are pretty messed up behind the scenes.  People are quiting, new people just hired being fired.  A gong show.  New CEO has a chip on his shoulder, doesn't care about people, just himself, and has made poor hiring choices.  Things have to be desperate to get rid of CFO with a board seat.  Also, got info from a reputable party who took a good look at the non core assets.  They are touting Hayter as the next clear water play and think they can get $40MM for it.  I don't think there is any production from this property, or very little, so its all supposed upside if someone wants to drill some horizontals.  Its plagued by major ARO, on the bit of land they have left, and my source mentioned a lawsuit from a previous company alleging ownership.  Looks like the non core assets are fairly bleak, mostly ARO, but at these prices, maybe Provost has some value, if you can get rid of the ARO that has plagued the property.  Biggest problem comes from the very top, some of this board, especially the chairman, need to go.  Chairman has bankrupt the company more than once.  How does he survive and CFO gets canned?  Its jr. oil and gas corruption 101.

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