Northern Spirit Resources Inc. Rights V.NS

RE:RE:earnings out...

[Nergy]

Looking good, seems like 300-400 BOE/day during sept-Dec. Aiming for 2000 BOE/day next year.

"The 11-14 well commenced production mid-August and is in the cleanup phase, showing strong initial production rates and exceeding management's expectations. Altura will report production results on this well in the next quarterly release once it is fully cleaned-up."

 

"OUTLOOK

Altura has an active third quarter remaining with a second Leduc-Woodbend well (87.5% working interest) planned for September, with subsequent production in October. Additionally, the Corporation has budgeted a waterflood pilot project at Leduc-Woodbend, which is planned for the fourth quarter of 2021. Success of the pilot would result in gas/oil (GOR) ratio suppression, reservoir pressure maintenance and attenuated production declines which could add material upside to Altura's Rex oil pool reserve recoveries.

Altura's capital expenditure forecast for 2021 (excluding proceeds from asset dispositions) remains at $7.5 million and average 2021 production is forecasted to be 1,100 to 1,150 boe per day, representing more than 25 percent growth over 2020 on a per share basis. With added production from the two new wells, improving commodity prices and a more favorable hedge book, Altura is forecasting substantial adjusted funds flow3 growth in the second half of 2021.  "