Highwood Asset Management Ltd Com V.HOCL

properties

[Copperrun]

Red Earth Creek, Alberta (Keg River): Targeting the Keg River formation, the Company delivers ~1,300 bbls/d of light sweet crude to Edmonton via its own sales pipeline and the Plains Rainbow system. Wabasca River Pipeline (WILL BE UPDATED PROJECTING TO ADD $4 MILLION OR MORE EXTRA FREE CASH FLOW THIS YEAR ALONE BY USKNG FUNDS FROM SALE OF CLEARWATER) The Wabsaca River Sales Line is located 450 km north of Edmonton and delivers onto the Plains Rainbow System. The line is owned and operated 100% by Highwood. The pipeline was constructed in 1987 to gather and transport light conventional crude oil volumes from the Senex, Trout Mountain, Kidney, Ogston and Swan Lake oil fields to Rainbow Pipeline at EVI. Facilities consist of 112 km 8" pipeline, 30 km of 6" pipeline and 66 km of 4" pipeline. Capacity of ~20,000 bpd as an open access carrier with set published tolls:

[BobTheKnob2]

Not me speaking here - just quoting from company press releases as part of my own DD: Highwood began negotiating the disposition of its Red Earth assets, signing a definitive agreement on November 13, 2020 to vend the assets to an Alberta producer for cash consideration of $2.0 million. The disposition will remove $31 million of undiscounted, uninflated decommissioning obligations from its