Tourmaline Oil Corp (Alberta) T.TOU

Alternate Symbol(s): TRMLF

Energy Oil & Gas E&P

Tourmaline Oil Corp. is a Canada-based crude oil and natural gas exploration and production company. The Company is focused on long-term growth through an aggressive exploration, development, production and acquisition program in the Western Canadian Sedimentary Basin. It operates in three basins, which include the Alberta Deep Basin, NEBC Montney Gas/Condensate and Peace River Triassic Oil. The Company has ownership interests in 16 natural gas plants in the Alberta Deep Basin. It owns and operates five natural gas processing facilities with an aggregate capacity of approximately 325 million cubic feet per day (MMcf/d) with related gas gathering systems and NGL handling infrastructure at NEBC Montney Gas basin. The Company owns and operates two oil batteries at the Peace River Triassic Oil basin, which handles approximately 48,000 barrels per day of fluids and the associated natural gas is delivered to a third party for processing.

TSX:TOU - Post by User

Tourmaline Oil Corp (Alberta)

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Post by bagcheeseon Jul 07, 2021 4:52pm

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Post# 33506925

Technicals

New support is 32.49, new resistance is 36.19

Tourmaline is still a dollar or about 3.2% above the 20 dma

Underlying commodity draged the sector down, however a test or estemblishiment of new support is healthy

Oil is up 80 cents from its 10:30 AM low

More importantly the reserves are being drawn down as demand is still growing and will continue

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