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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 filefishon Feb 19, 2024 1:40pm
119 Views
Post# 35887735

RE:RE:RE:RE:RE:Evi licenses transfer approval 2/12/24

RE:RE:RE:RE:RE:Evi licenses transfer approval 2/12/24My opinion only:
Their priority objective is to pay off the lender and this will only have a chance to happen if the lender is willing to extend the June loan exp. date. The likelyhood of a full pay off is small at the current commodity prices so the lender can either cut their losses or take a chance that things will improve over time. The days of publicly held Jr E&P companies like PPR are in the past. The stock is slowly sinking without any buyers and so Management needs to  make a case that the NAV still  exceeds the market value, at the next Earnings release. They havent publically stated so, but I would not be surprised if the Board is shopping the core Assets around at this time. The best outcome for shareholders is to merge with a viable entity so as to salvage some equity value. We can only hope they are successful getting something like this done..
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