TSXV:RZE.H - Post by User
Post by
nozzpackon Apr 18, 2022 7:47am
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Relevant Commentary
Relevant Commentary In Alberta, Doug Bailey and Frank Muller's Razor Energy Inc. (RZE) shot up 58 cents to $3.14 on 303,700 shares, more than regaining the 41 cents it lost yesterday after releasing its year-end financials. The numbers did not seem to warrant yesterday's drop or today's bounce. Razor had already released a year-end operational update in February, so the financials held few surprises. Shareholders may have been hoping for more ambitious -- or indeed any -- guidance for 2022. Instead Razor talked vaguely of a "strong price outlook" and a "cautious and case-by-case approach to capital spending."
Management provided a few more tidbits in a new presentation on Razor's website.
It pegged Razor's production at 4,750 barrels a day during the first quarter, up sharply from 3,000 barrels a day in the same period last year (and up from 4,400 barrels a day in the fourth quarter, as noted in the financials).
The gain reflects a "production enhancement/reactivation" program, as well as an asset acquisition in the core Swan Hills area last summer.
Also in the Swan Hills area, Razor -- a self-billed "innovative thought leader" -- is building a "first-in-Alberta" $37-million geothermal power plant (as discussed in more detail in the Energy Summary for March 10).
It said in the presentation that the plant should be on-line this October and should reach payout in 3-1/2 years.