Paramount Resources Ltd T.POU

Alternate Symbol(s): PRMRF

Energy Oil & Gas E&P

Paramount Resources Ltd. is a Canada-based energy company. The Company explores and develops both conventional and unconventional petroleum and natural gas. It also pursues longer-term strategic exploration and pre-development plays and holds a portfolio of investments in other entities. Its principal properties are located in Alberta and British Columbia. The Company's operations are organized into three regions: the Grande Prairie Region, located in the Peace River Arch area of Alberta, which is focused on Montney developments at Karr and Wapiti; the Kaybob Region, located in west-central Alberta, which includes the Kaybob North Duvernay development, the Kaybob North Montney oil development and other shale gas and conventional natural gas producing properties, and the Central Alberta and Other Region, which includes the Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia.

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Paramount Resources Ltd > StrathCona is in doo-doo (16% POU Ownership)

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Comment by Sugareeon Jan 14, 2021 4:51pm

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Post# 32299775

RE:StrathCona is in doo-doo (16% POU Ownership)

Hey HP, any idea where there might be in negotiations regarding a settlement on this Strathcona issue? Is this something JR can discuss with you when you speak, or would info on this be considered insider confidential at this stage?

Sure would be nice to get this one wrapped up soon and get the cash deployed elsewhere!

MyHoneyPot wrote:
170 Million Dollars

https://paramount.mediaroom.com/2018-06-14-Paramount-Resources-Ltd-to-Sell-Non-Core-Oil-and-Gas-Properties-in-Resthaven-Jayar-for-340-Million

Stath - Cona

Was not a marriage made in heaven, a heavy oil producer who has infinite reserves, don't they all have infinite reserves, married with a gas, high liquids condensate producer. Nothing more could be futher from the Truth, if my Spidey Senses are Correct that is why JR resigned.

Cona assets have been passed forward by the receivers of companies that have failed them, and now StrathCona (Not) says they have the expertise to operate them and generate free cash flow.

Smoky Resthaven has had some of the best well results in all of Alberta, and it is the same land that Strath wants to discount in their evaluation, is the prime land that surrounds the VII generations land base they purchase from POU. Maybe VII generations will confirm for StratCona that the lands are only with a quater of what they were in 2018. No Way.

So i expect 89 million dollars in a out of court settlement added to the 45 million they alreday got from strath, so 134 million will be the final answer. To the Strath Cona mess.

The judge will ask why did you put JR on the board, and what was your process regarding the valuation of Corona.

Two questions they will not be able to answer.

89 million more, that is about 15 Wapiti wells or 15,000 boe production increase for 2021.

If i were POU i would ask for damages associated with the settlement, especially considering that 170 million makes a big difference on your bank line.

IMHO

Best Outcome
POU gets 170 million from stratcona, not likely second best outcome, they put the lands on the market and split the sales revenue. Strath will not go for that. Likely outcome they pay out the remaining 89 million dollars they owe POU.

POU saw it all.
JR was put on the board to provide oversight and goverance to the smoky/resthaven assets. When the company destroyed the value of those assets with the corna purchase he had to leave the board. StratCona appears to me to have a lack of fiscal discipline and corporate goverance, thay they likely do not want to come out in court. I think they will pay POU the 89 million they claimed, 134 million in total or the entire board will have EGG on its FACE, and a loss of investor confidence.

IMHO