Petrus Resources Ltd T.PRQ

Alternate Symbol(s): PTRUF

Petrus Resources Ltd. is a Canadian oil and gas company focused on property exploitation, strategic acquisitions and risk-managed exploration in Alberta. The Company has an inventory of low-risk oil and natural gas development assets in its Ferrier, North Ferrier and Thorsby operating areas. Its core area, Ferrier, is a resource play. The Ferrier is a liquid rich Cardium gas play. North Ferrier is an extension of its core Ferrier area. Its Thorsby asset is located in the central part of the province. Its properties, located in the foothills of Alberta, are a more minor area for the Company. The Company is also evaluating Kakwa, an early-stage Dunvegan oil play, for potential further long term development.

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Petrus Resources Ltd

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Comment by Cardboard1on Oct 01, 2019 11:45am

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Post# 30182226

RE:RE:RE:RE:RE:Sold

Hey Plus50, have you heard anything further on this?

Central Alberta and Foothills have been for sale for a while and would allow the company to focus on Cardium as mentioned by Sculpin2.

This is a well managed company with low costs, reducing debt and investing capex in very prolific wells in the Cardium. Unfortunately, natural gas price has collapsed and hurt these two assets for sale although I hear that they are still free cash flow positive. If they had lower debt they probably could hang on to both.

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