Disappointment in the PlanMisdirected Operational Plan
ARC is simply to free with Shareholder money, with all the free capacity they had at Kakwa for more than a year they have earmarked all their capital to projects that are not sanctioned, and can't be built.
Sunrise is not Sanctioned
SunRise - You heard me say it seemed expensive, and i believe the budget was 125 millon to add 80 Mmcf of gas. However what they forgot to tell share holders is that they did not have the permits, and i am guessing first nations approval to go ahead with the project.
Attachie is not Sanctioned
Attachie they can't get it sanctioned, and they have been spending capital on the project and nothing to date has flowed to the bottom line, improved production, revenue, shareholder returns.
We are in one of the best commodity supercycles, and management is dicking around with projects that are not sanction.
Kakwa best Returns
35% Condensate, 42% ng, 23% NGL CF BOE > $100 dollars
So ARX has been sittle for the last year telling shareholders they are putting their capital to work in the best plays for the best returns.
Well that is not Sunrise, that is not Attachie, and electrification of Dawson is a house keeping project that really does not enhance returns.
Production from Arx has been a big disapointment, and it is because of Rookie Management.
Really no plan, do nothing and become the ESG company on the planet.
IMHO