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 commonsense9on Jun 01, 2022 11:23am

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Post# 34723379

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

When TEC and PEA made that deal, the only way it was going to work for either to plan, was if the LNG plant went ahead. Then part of the intial billions in that would go to paying off TEC. (The shares they had was a much smaller number than now, but the profits big on those.) They are not in this for the 15% interst (just a fallback) or for long term holding.

They are WAY better off now than where it looked like things were going a year ago. But they are not long term holders. They are still looking for the best they can make of that deal. But they are for sure a lot happier knowing that now PEA can afford that 15% due them until October next year, plus they get to negotiate their pound of flesh for PEA not being able to pay off the loan, no matter how much money they make.