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Pulse Oil Corp V.PUL

Pulse Oil Corp. is a Canada-based oil and gas exploration company. The Company is primarily focused on the implementation of a solvent flood enhanced oil recovery (EOR) project on two Nisku Pinnacle reefs at its 100% owned Bigoray property in west Central Alberta. The project includes two Nisku pinnacle reef reservoirs that have been producing sweet light crude oil for over 40 years. The Company's 100% owned and operated Bigoray Assets consist of proved and probable reserves of approximately 5,324,400 barrels of oil equivalent (BOE) and covers approximately 3,941 net acres of land. The Company also operates and has a 100% interest in Queenstown Assets, which consists of approximately 183,000 BOE and consists of 4,781 net acres of land. Its wholly owned subsidiary is Pulse Oil Operating Corp.


TSXV:PUL - Post by User

Bullboard Posts
Comment by largeinveston Apr 03, 2019 3:59pm
78 Views
Post# 29578311

RE:RE:RE:RE:RE:RE:RE:RE:Come on Garth put out the NR

RE:RE:RE:RE:RE:RE:RE:RE:Come on Garth put out the NRI think the appropriate name for a pig with lipstick would be a company that has piles of shares out, no pending production and a pile of debt.  We don't fit into any of that criteria.  Its certainly not 200 million shares out unless the warrants get exercised in which case we would have even more cash in the bank.  What I think Garth can do next year is share buyback up to 10% of the float.  Not until he has the miscible flood going as the capex from those two nisku wells is estimtated in the range of $16 to $20 million.  Combined though they are expected to flow 4000 bopd of LIGHT oil along with the 2000 boepd predicted from the 20 Queenstown development locations.  Thats how we get to 6k in a couple of years.  We will obviously need to buy more land and assets as well, once these projects are done and booked.  At 6000 boepd, assuming most of it light oil (Which is will be for the miscilbe flood and most likely 70% for the queenstown) and then use $45 cash flow netbacks, we could be raking in $100 million a year in free cash flow.  Its expected the RLI will be around 10 years.  So I wouldn't worry about the 140 million common shares out right now that have a market cap of $26 million, when we will be free cash flowing almost 4x that amount in two years from now.  
Bullboard Posts