Pieridae Energy Ltd T.PEA

Alternate Symbol(s): PTOAF

Energy Oil & Gas Integrated

Pieridae Energy Limited is a Canadian energy company. The Company is an upstream producer and midstream custom processor of natural gas, natural gas liquids, condensate, and sulphur from the Canadian Foothills and adjacent areas in Alberta and in northeast British Columbia (BC). It owns and operates three sour gas processing complexes at Waterton, Caroline and Jumping Pound. Its footprint covers over a million gross acres (807,000 net acres) in the Foothills and makes up conventional gas reservoirs in North America. Across Alberta and British Columbia, its footprint stretches over one million gross acres of land, with ownership of three deep cut gas plants and more than 3,800 kilometers of pipelines. Its foothills include the southern foothills, central foothills and northern foothills. Its southern foothills have three main fields: Waterton, Carbondale, and Burmis. The Company also has a production facility in the Northern Foothills of Alberta and in Northern BC.

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Pieridae Energy Ltd > I missed the boat

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Comment by Maxmoeon May 31, 2022 2:59pm

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Post# 34720891

RE:RE:RE:RE:RE:I missed the boat

Yes they gave them away. Because at $2 gas, that's what they were worth. They would not have cut that deal at $8 gas. Or $5.

commonsense9 wrote: Shell gave the assets away? They were for sale for 3 years with no takers. The goal was to unload them.

I'm sure they are happy too now- they would have been left holding the bag on the liabilities they wanted off their books, if Pieridae had continued winding down. PEA was only not pushed into foreclosure because TEC did not want to be owners either. If Shell wanted the assets back, all they have to do is cut a deal with TEC to give them their pound of flash. [Remember that PEA still does not have the licences from AER. Now that they are making money instead of just pretending, they can get that done- eventually. But Shell as them, and could have the assets too if they wanted them back.]

The way it worked out no one is crying, everybody is getting close enough to what they wanted in the first place (as far as the gas fields go- the LNG plant is pure speculation). Everybody is happy.

Maxmoe wrote: This stock was just 30 cents to start the year. It has to be the best kept secret in Calgary that alfie dodged the bullet and is up 5X,6X from there. Somewhere in the bowels of shell headquarters in "the city" somebody was fired for giving away those gas assets. Somewhere at london HQ the question is ..... why aren't we shipping LNG from Canada to Europe? Or Canadian gas to USA to indirectly ship to Europe? Oops.