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Journey Energy Inc T.JOY

Alternate Symbol(s):  JRNGF

Journey Energy Inc. is a Canada-based exploration and production company focused on conventional, oil-weighted operations in western Canada. The Company is engaged in the exploration, development, and production of crude oil and natural gas in the province of Alberta, Canada. The Company is engaged in pursuing growth through drilling on existing core lands in Alberta, implementing water flood projects, completing accretive acquisitions, and growing its overall production and reserves base. The Company seeks to optimize its oil pools on existing lands through the application of practices in horizontal drilling and, where feasible, with water floods. Its areas of operation are along a resource, Fairway, which consists of the Central Alberta and South Alberta. Its Central Alberta includes Gilby-Duvernay, Crystal, Cherhil, Kaybob, Ferrier, and Ante Creek Waterflood. Its South Alberta includes Matziwin, Skiff, Herronto, and Medicine Hat EOR.


TSX:JOY - Post by User

Comment by Justhalffullon Sep 02, 2021 3:54pm
121 Views
Post# 33804512

RE:RE:RE:RE:RE:RE:RE:JOY unhedged..look at Aeco price!

RE:RE:RE:RE:RE:RE:RE:JOY unhedged..look at Aeco price!At the time this deal was made, oil prices were in the dumps, and many companies were on the verge of bankruptcy.  Guess the syndicated bankers got cold feet and decided to settle for just a bit more than 1/2 of what they were owed.  Great feat by Joy.  And then they lucked out on the Power generation sale when the purchaser reneged on that deal and had to forfeit the near $1 million deposit.  And shortly after the sale fell through, oil prices began to recover and hydro rates took off so that the electricity generation business provided $1.3 million in income for Q2 2021.  All in all, a fantastic story that the market does not yet appear to be aware of or understand.  The next financials should change that.
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