TSX:RBY - Post Discussion
Post by
havefun2021 on Oct 20, 2023 1:00pm
Figure lake
Not surprise, RBY take out Clear North land. Remember at the IPO conference call(2021.9), Sue said among company asset base, Figure lake probable has the most potential. Step by step, they finally located the sweet spot. Unfortunately, three disappointed exploratory wells last year at north and west, made the inventory not big enough, for a plateau production over 5000boe/d.
Riddell family(POU/Cavalier/PMT/RBY) was the forerunner of Clearwater play, their lands are all over the map. But it's took longer for them to find a sweet spot. After this acquisition RBY finally get a dominant position in an area, hopefully to support production of 10000boe/d.
Now RBY is different company. Next step probably a merge of RBY and Cavalier to create a much powerful Clearwater player.
Cheers!
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