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Headwater Exploration Inc T.HWX

Alternate Symbol(s):  CDDRF

Headwater Exploration Inc. is a Canadian resource company engaged in the exploration for and development and production of petroleum and natural gas in Canada. The Company has heavy oil production and reserves in the Clearwater/Falher formations in the Marten Hills, Greater Nipisi and Greater Peavine areas of Alberta and natural gas production and reserves in the McCully field near Sussex, New Brunswick. The McCully Field is located approximately 10 kilometers (kms) northeast of Sussex, New Brunswick in the farming community of Penobsquis. It owns and operates a natural gas processing plant, with a processing capacity of approximately 35 mmscfpd, and a 50 km transmission line connected to the Maritimes and Northeast pipeline. The McCully Field is a winter producing asset connected to the northeast United States gas market. The Company drilled its first stratigraphic test and single-leg horizontal well, prospective for heavy oil, in Handel, Saskatchewan.


TSX:HWX - Post by User

Post by Bennys65on May 06, 2021 5:57am
403 Views
Post# 33138762

Big Brother CVE

Big Brother CVELooking back it is now apparant that CVE handed one of the hottest plays out there to HWX on a platter.They ended up with some cash a gor and 26% of hwx.At the time they wrote that the deal would be very beneficial to cve shareholders.Hard to see how a deal this size would move the needle for CVE.Just to the North CVE had to sell their Pelican Lake assets to CNQ to help pay for the huge Conoco buy.All of this makes me feel there  is a long game in play.My hope is they use HWX as a consolidation vehicle to become the dominant player in the clearwater.TVE Steve Bytels in CC said there was very interesting privates coming on the market in their core ares which includes the clearwater.Canoe financial has been on top of this from the start with Rafi on Topaz board buying Clearwater Gors and a big position, his largest, for his fund in Hwx.Canoe has said that Merger potential for HWX is not priced into the stock.When the dust settles there will be only one or two big players in the clearwater.Delta and Spur and Crestwyn will be gone .TVE has a stong balance sheet and a good deal maker in Steve Bytels.Hwx has got a cash positive balance sheet,great experienced management and big brother CVE that wants a big position.
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