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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 14, 2021 9:25am
82 Views
Post# 33854168

RE:Power Plant

RE:Power PlantThe sale was first arranged before they managed to restructure their debt.  At that time, mid 2020, oil prices were still in the $30's and electricity prices were low.  So low in fact that the potential purchaser reneged on the deal even though they had to relinquish their $900,000 deposit.  JOY was in financial distress, and had to do something to survive.  Along comes AIMco, and along comes a spike in oil and gas and in electricity rates.  A miracle on 10th Ave SW so to speak.  We are on the cusp of a double up, I'm certain.
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