Twin Butte Energy Ltd TBTEF

RE:TBE had about 1000 Boe/d of heavy oil production shut in

[Rocky7777]

Rocky7777 wrote:
TBE had about 1000 Boe/d of heavy oil production shut in due to high operating cost. If they are transitioning to medium oil with manageable operating cost, why not just sell those assets and use proceeds to pay off or reduce debt. Actually at $60 WTI, TBE is losing more than $21 million of income per year. Also, Surge sold their producing Viking assets in Saskatchewan for 450 million and with average production of just over 500 Boe/d.

Sold for 430 not 450 million and for over 500 Boe/d as per their website.

'Surge Energy Inc. Announces Record First Quarter Production

CALGARY, May 12, 2015 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) announces record operating results for the three month period ended March 31, 2015.

Surge reports record average production of 20,585 boe per day in the first quarter of 2015 on a significantly reduced capital expenditure program. These record results were also achieved despite the sale of over 500 boepd of non-core Viking production in SW Saskatchewan during the quarter."
https://surgeenergy.mediaroom.com/index.php?s=10448&item=135259

But I did notice huge discrepancy between torc & surge news release. Those oil and gas companies are just scammers; I don’t think anyone could mistake 4,750 barrels of oil equivalent a day and rounded up to OVER 500 Boe/d
https://www.wsj.com/articles/torc-to-buy-regional-oil-assets-from-surge-energy-1430146391


https://torcoil.com/wp-content/uploads/2015/05/TORC-Q1-2015-Press-Release_FINAL.pdf

Subsequent to the end of the first quarter, TORC announced a strategic acquisition of complementary southeast Saskatchewan

properties producing 4,750 boepd (98% light oil and liquids) financed by a bought deal public offering and a private placement

to TORC’s cornerstone investor.