OTCPK:SRMLF - Post by User
Post by
InsideEnergyon Nov 11, 2021 9:39am
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Post# 34114331
migrate to AAV
migrate to AAVeven bigger and operate a best in the world gas play at Glacier along the AB BC border, a pure Montney play spinning off cash today,, speakin of spin off, they are doin one
Best use of this big cash flow and spinout money recieved? They say bring on the oil. They got a condy play and oil play, both with have area plants, like Nig, condy like Nig. Last two wells were reported as big, 2000 Boepd big condy/gas.
Oil is found in the D3 layer of the Monteney all thru Progress to Valhalla to Pipestone to Wembley where they have 2 plants running and wells flowing IPOs are 1200 ish.. some 60% oil tho. Top decile is the newest Progress oil wells. oil at 1000 bopd. sounds like a lot of land, but very concentrated with large blocks of land, so all can be inter connected to their big 4000 Mmcfd Glacier plant. a top of heap plant. Topaz bought a rather meaningless small 10% handing over $100 mill, early in this cycle where distressed assets were on the market. Topaz thought the plant was well worth $1B plus.
yes migrate to AAV, it is a mover and shaker now.