Spartan Delta Corp T.SDE

Changed wording

[TerribleEng]

I like how in the results released today it was "Fourth quarter production 17% above

previous guidance due to well performance and some acceleration of well onstream

dates"

Versus what they shared with analysts and in the press release: "The Company’s fourth quarter production significantly outpaced previous estimates due to earlier

than forecasted on-stream dates for several wells through successful execution of its Montney and

Deep Basin drilling campaigns and acceleration of certain projects"

I am on to you Spartan. I will read through your lowered guidance and take your cheap shares that the market is offering.
 

[Seppelt]

Not sure if there is any changes in production numbers and wording between the February 15 and current formal release. But the report is good, as expected. Among other things, hedging losses in Q4 are relatively high at 6.39 $/boe but it has a lot to do with Velvet legacy and will probably be lower in 2022 but regardless, prices are high enough to maintain strong cash flow and profits. Actually

[TerribleEng]

Yeah the numbers have remained the same. I was just commenting on how in the prior release the production numbers way above guidance was due to a couple wells coming on-stream sooner. Whereas the new presentation focuses more on drilling performance. The Petrinex numbers show out performance in October, November, December and January. I don't buy that wells coming on-stream argument was a

[MatthewZy]

Are you guys seeing anything else in the earnings?  I'm a little suprised at the muted response to results that I thought were quite good, so just wondering if I'm missing something.  I added a bit here, seems like a dip in oil has traders selling. I tend to hold long term.  Thanks!  

[Bamsmba]

Hey Mathew, I think the muted response is in part due to the news being "old".  Spartan pre released almost all the information when they released their reserves informaiton. In addition, Petrinex releases production data on a monthly basis and Scotia also reviews that data and publishes a note on it.  By the time earnings come.... there is not much to tell. Just my thoughts.

[Seppelt]

Also, it a bad day in the market with WTI plunging about $15 from $125 to just under $110. Many CEOs and investors believe that a steady $75-$85 range is a lot better than a volatile $100+. Currently, there are news of UAE and Iraq agreeing to raise production, Biden willing to drop sanctions on Venezuela and dipping into strategic reserves. Everyone is scrambling to do something