Tourmaline Oil Corp (Alberta) T.TOU

Alternate Symbol(s): TRMLF

Energy Oil & Gas E&P

Tourmaline Oil Corp. is a natural gas producer, which is focused on producing natural gas in North America. The Company is focused on long-term growth through an aggressive exploration, development, production and acquisition program in the Western Canadian Sedimentary Basin. It operates in three basins, which include the Alberta Deep Basin, NEBC Montney Gas/Condensate and Peace River Triassic Oil. It has ownership interests in 22 natural gas plants in the Alberta Deep Basin. It owns and operates seven natural gas processing facilities with an aggregate capacity of approximately 1.0 Bcf/d with related gas gathering systems and NGL handling infrastructure in the NEBC complex. The Company owns and operates two oil batteries in the Peace River Triassic Oil basin. The Company’s operations are focused on northeast British Columbia and include a large contiguous land base with a Montney resource. Its Montney area assets include Septimus / West Septimus, Groundbirch, Monias and Tower.

TSX:TOU - Post by User

Tourmaline Oil Corp (Alberta)

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Post by bagcheeseon Jul 07, 2021 4:52pm

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Post# 33506925

Technicals

New support is 32.49, new resistance is 36.19

Tourmaline is still a dollar or about 3.2% above the 20 dma

Underlying commodity draged the sector down, however a test or estemblishiment of new support is healthy

Oil is up 80 cents from its 10:30 AM low

More importantly the reserves are being drawn down as demand is still growing and will continue

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