RE:Almost there Hey @Augataag, agreed on the very promising Q's going fwd although a +8kboe/d production bump looks high.
On the matter of Settlement, you are incorrect. Here is the announcement from the TSX wrt the PRQ.RT's and trading of same:
"The TSX reports that trades in the rights on April 22, 2022, will settle on April 25, 2022, trades on April 25, 2022, will settle on April 26, 2022, and trades from the open to 12 p.m. Toronto time on April 26, 2022, will settle on the same day. Trading in the rights will end at 12 p.m. Toronto time on April 26, 2022. The rights will expire at 5 p.m. Toronto time and will be delisted at the close on April 26, 2022."
So Rights remain 100% fungible until they stop trading at noon on 26th and remain COMPLETELY VALID FOR USE in the backstopped Rights Issue AFTER THAT and right up to Issue Close at 5pm that same day.
So Trade, Use or Lose them. It's not over yet for the PRQ.RTs.
What is over is selling or buying regular PRQ FOR SETTLEMENT PRIOR TO RIGHTS ISSUE CLOSE. The TSX rule is "Trade+2" and that means the DAY AFTER CLOSE. Some shareholders have been playing the apparent arbitrage, selling their PRQ to raise cash to buy back the "cheaper" Rights shares.
That trade window has now gone.
Hope this helps.