RE:RE:Updated presentation etcI think the relatively high infrastructure costs relate to where they are in the development cycle: building the Wembley pipelines, water handling, and compression facilities.
It will stay high but taper off, they're working two large and mostly undeveloped parcles at Oak and Wembley. Not owning their own processing they're not a low cost producer but they have significant torque to high oil and gas prices given no debt but high capex. It's a neat trick. At these AECO prices their netbacks for Q1/Q2 could be incredible.
KEL is an interesting hybrid and I have been adding some at ~6.70, much higher than I sold it previous but , y'know, the future is unknowable.