RE:RE:RE:RE:RE:Spartan vs Westbrick…AgainThey have ~C$100M cash on the balance sheet now, so financing wouldn't be a problem. I think the last equity raise may be it for a while: they're just too cheap per share right now to raid that piggy bank productively more than that.
I took a look at the Petrinex data for the Triple 5 battery and it looks like about ~2000 boe/d of raw gas and a bit of oil. After processing, your 3k boe/d figure is probably close. That'd equate to a $12k boe/d price on production alone, which is about in line with there SDE is trading. With additional wells and opex declines it would be a good addition.
They likely have a lot of sticks in the fire, but this is one with a bit of public disclosure which makes it more interesting.
If they can exchange cheap shares to get assets at bargain prices, I'm all for it: I think some private owners of junior would be happy to take SDE paper in exchange for their assets now and ride the share price up to $7. So I wouldn't rule more shares out, but something like this shows where having a strong balance sheet is an asset of its own.
That albertaog site used to parse the facility flow data from the AER's ST13 which was cool, but they've ceased that but the map is still really, really cool for a free site.