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Tenaz Energy Corp T.TNZ

Alternate Symbol(s):  ATUUF

Tenaz Energy Corp. is a Canada-based energy company. The Company is focused on the acquisition and sustainable development of international oil and gas assets. The Company has domestic operations in Canada along with offshore natural gas assets in the Netherlands. The Company’s domestic operations consist of a semi-conventional oil project in the Rex member of the Upper Mannville group at Leduc-Woodbend in central Alberta. The Company's semi-conventional development project is located in the Leduc-Woodbend area of Alberta, Canada. This project targets the Rex zone within the Manville formation and has production of approximately 2,337 barrels of oil equivalent (boe) per day. The Netherlands gas assets are located in the Dutch sector of the North Sea. Tenaz also has an ownership interest in Noordgastransport B.V. (NGT), which holds gas gathering and processing networks in the Dutch North Sea.


TSX:TNZ - Post by User

Comment by TheRexmemberon Sep 13, 2023 11:39am
188 Views
Post# 35633886

RE:RE:RE:Big Deal Coming

RE:RE:RE:Big Deal Coming

Very possible. 

with the limited info available it appears that Shell and Exxon have a joint venture that they have separated into 4 properties. One being an enormous onshore field called Groningen - a massive historical gas field. There is a lot of local drama around Groningen - environmental opposition, subsidence, earthquakes and political intervention. It is probably a cashflow cow still but likely not on the radar of Tenaz.

The other three are offshore. 

I believe the offshore fields are the target and that there might be an agreement in principle on the price - subject to final due diligence, regulatory review and financing. 

Up to 50,000 boe/day largely gas - again with data and translation that is my best guess only. With financial adjustments, ARO deposits, taxation, pipelines, gas plants and offshores fields in production and waiting in the wings.  The actual cash that would change hands is too difficult to call.

Remember with the last purchase Exxon actually paid Tenaz 60 million to take it - 46 million of which is on their balance sheet as working capital. 

Go Tony!

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