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Painted Pony Pete Ltd PDPYF

Energy
"Painted Pony Energy Ltd Petroleum explores, develops, and produces petroleum and natural gas. The company focuses on the development of natural gas and natural gas liquids. The company's operations take place near the Montney formation in Northeast British Columbia. The Montney location is a sweet natural gas-saturated zone (natural gas that does not contain hydrogen sulfide or significant quantities of carbon dioxide) with no associated or underlying water. The company also has multiple gas pr


OTCPK:PDPYF - Post by User

Painted Pony Pete Ltd
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Comment by energeeon Apr 24, 2020 11:18pm
228 Views
Post# 30952531

RE:RE:RE:RE:RE:Make your vote count at this years Agm

RE:RE:RE:RE:RE:Make your vote count at this years Agm
I have read the AIF and all materials. 

Pony 2019 G&A (after recoveries) was $22.75MM (eg. $1.89MM per month). Interest expense was $25.4 MM in 2019. Net debt was $320MM at YE. Production for 2019 was 49,000 boepd with 9% liquids. SP has languished.

For comparison, Advantage (AAV) 2019 G&A was $11.8MM. Interest expense was $14.45MM. Net debt at YE 2019 was $303MM but a planned sale of a 12.5% interest in their 100% Glacier gas plant will shrink debt by $100MM.  Production was 44,344 boepd with 6% liquids. SP going up.

These companies are close in size, but not in structure. Even though I own Pony shares from the past, my money is now on a different horse.
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Dealroom for high-potential pre-IPO opportunities