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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
Comment by commonsense9on Sep 07, 2019 8:48am
220 Views
Post# 30104964

RE:RE:RE:RE:Pieridae agent receives financing proceeds of $33.22M

RE:RE:RE:RE:Pieridae agent receives financing proceeds of $33.22MAIMCO clearly supports. Presumably they will take repayment ot the $50million term loan rather than roll that in as more equity. The pending junk bond rate loan is partly for that, and the optics would be poor for AIMCO to not get the money. Doesnt stop them from cycling all or most of it back as more share purposed.

I am very skeptical that there is any more than an appearance of possibly better capital availabbility in gerneral. But PEA does not need Canada for investment and has never relied on it. Those roots are in Europe (not only Germany). If the Alberta govt gives incentives: icing on the cake that could help reach tipping point. But not decisive.

roscoe74 wrote: AIMCO has agreed to take equity for interest payments on the term loan and purchase more shares "on behalf of certain parties".

I see the capital availability landscape in Alberta changing as the new government offers funding as well as confidence to new projects that support energy exports. I think there are very deep pockets in the background who wish to remain anonymous for now.

I still have concerns about the pipeline capacity to Goldboro but, the lack of news may have more to do with keeping the econuts at bay than actual pipeline issues.

All in all, very good news.


Bullboard Posts