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TORC Oil & Gas Ltd. T.TOG


Primary Symbol: VREYD

TORC Oil & Gas Ltd engages in the exploration, development, and production of oil and natural gas reserves in the southeast Saskatchewan area. Crude oil constitutes an overwhelming majority of the production mix the company gathers from its assets. TORC gains access to its assets through government issued royalties and uses various techniques to identify hydrocarbon reservoirs. The company focuses heavily on light oil resource plays and relies on a three-phased strategy of resource capture, delineation, and production growth.


OTCPK:VREYD - Post by User

Bullboard Posts
Comment by Ferukon Jul 17, 2013 4:35pm
224 Views
Post# 21613921

RE:RE:New Assets Non-Op

RE:RE:New Assets Non-OpRe-read the press release and see if you can find the working interest in the assets they bought. Unlike most transaction press releases, it's not contained anywhere. Well, the working interest of the assets they bought from Pengrowth is... 48% on average! A third party operates a majority (if not all) of the assets. So when Torc talks about how great the number of unbooked locations is, what does it matter? They are not the ones picking locations or speed of development. The operator will control all that. Torc probably just elects to participate or not. The assets are fine if you just wanna sit back, pay a dividend, and do nothing, but for a growth company (which this used to be) this deal sucks.
Bullboard Posts