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Rubellite Energy Inc T.RBY

Alternate Symbol(s):  RUBLF | T.RBY.WT

Rubellite Energy Inc. is a Canadian energy company. The Company is engaged in the exploration, development and production of heavy crude oil from the Clearwater formation in Eastern Alberta, utilizing multi-lateral drilling technology. It is developing its pure Play Clearwater asset base in Eastern Alberta utilizing multi-lateral drilling technology. It has over 140 net sections of land prospective for Clearwater heavy oil exploration and development. Its operations include Ukalta, Figure Lake and Marten Hills. The Ukalta is located approximately 55 miles northeast of Edmonton. It has a 100% working interest at Figure Lake. It has accumulated close to 85 sections of land prospective for the Clearwater play in the Figure Lake area. It is actively developing its three sections of land at Marten Hills.


TSX:RBY - Post by User

Comment by Hugo1947on Apr 12, 2022 11:16am
224 Views
Post# 34596953

RE:Analyst Recommendation

RE:Analyst RecommendationThis company is a spinoff from Perpetual Energy which was in trouble the past few years over not cleaning up retired oil and gas wells in the Canadian west. The government finally picked up the tab for the clean ups and it should be quite profitable over the coming years. It has light oil which is the best grade to sell. Also Perpetual should also be a winner again because of its high natural gas reserves and no debt. Perpetual at one time traded at $9.00+ and may well get there again with the price of natural gas up 500% over the last year and a half
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