RE:RE:Athabaska ATHQ1/22 is now officially history.
Next stop, June 16, 2022 annual meeting.
The share price performance bonus is now clear for all to see, and has apparently got close to its cap.
There seems to be lots more for OBE to share.
They have numerous permits lined up in their heavy oil area.
They are currenlty at 33,000 boe, and forecasting 30,800 boe average for they year. That forecast must be based on spending only $45 million capex (the rest of their 2022 capex budget).
It seems likely that after spending $103 million in Q1, they may increase their H2 capex beyond $45 million. If they do increase it, their forecast production will increase too.
What do you think the chances are they will increase that $45 to $150 or $200 million?
It will get increased to something. Is that $75 million per quarter, or $100?
What production would that lead to? May be 35,000 plus
Q3 and Q4 may be $150 -$170 million FFO quarters. That looks like room for $50 million/Q returned to shareholders.
OBE is closing in on a level of predictibility that will arise post refinancing. That sounds like a 6 week ish horizon.
One wonders what it would cost to increase their bluesky production by 17,000 boe, and then hold that level...........maybe $100-150 million. They've got the money and the land, I wonder how long it would take to get it accomplished?