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Pieridae Energy Ltd T.PEA

Alternate Symbol(s):  PTOAF

Pieridae Energy Limited is a Canadian energy company. The Company is an upstream producer and midstream custom processor of natural gas, natural gas liquids, condensate, and sulphur from the Canadian Foothills and adjacent areas in Alberta and in northeast British Columbia (BC). It owns and operates three sour gas processing complexes at Waterton, Caroline and Jumping Pound. Its footprint covers over a million gross acres (807,000 net acres) in the Foothills and makes up conventional gas reservoirs in North America. Across Alberta and British Columbia, its footprint stretches over one million gross acres of land, with ownership of three deep cut gas plants and more than 3,800 kilometers of pipelines. Its foothills include the southern foothills, central foothills and northern foothills. Its southern foothills have three main fields: Waterton, Carbondale, and Burmis. The Company also has a production facility in the Northern Foothills of Alberta and in Northern BC.


TSX:PEA - Post by User

Bullboard Posts
Post by commonsense9on May 06, 2019 11:11am
144 Views
Post# 29714719

The Germans

The GermansI have come to the conclusion that the Germans are stringing Pieridae along. Right off: I have nothing compelling to back this up with. So its just what my nose tells me.

We pretty much know from indirect but compelling evidence that PEA must have been able to give some concrete non-public confirmation to parties like AIMCO that the German government is behind them. At  the same time, the government maintains to MPs that no commitments have been made, and indeed... while PEA obviously struggles both for cash needs that are no longer trifling, and to show investors that they really can put everything together.... Germany continues to withold actually putting any money or written commitments up.

While the clock runs down. So I think it is pretty clear that the German government is quite willing to let this project die on the table. I suspect they still want it to happen, but the limb they are willing to go out on is pretty short.

The only thing that really makes sense is that the German government has made it clear to Alfred and company that they are not willing to be the first big player to make an irreversible commitment. Someone else has to put in big time skin in the game- far more than Alfred and close associates can muster.

It could be that the Germans have made this need clear all along- that even the money for the upstream development (the promise of that allowed them to get IKM) will not be there until after someone else is in the game. Whether that was made clear to PEA all along or the goalposts shifted for PEA, doesnt matter.

Either way... I used to think this "soft FID" business was going to be some fig leaf that would allow the German government to say that the support was to a project that is credible. Just a token show to give political cover to the German government (because there are a lot of consrvative critics of the government's monetary support of LNG).

But now I think the soft FID is something that requires a pretty significant show of financial commitment outside the existing circle.
Bullboard Posts