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Journey Energy Inc T.JOY

Alternate Symbol(s):  JRNGF

Journey Energy Inc. is a Canada-based exploration and production company focused on conventional, oil-weighted operations in western Canada. The Company is engaged in the exploration, development, and production of crude oil and natural gas in the province of Alberta, Canada. The Company is engaged in pursuing growth through drilling on existing core lands in Alberta, implementing water flood projects, completing accretive acquisitions, and growing its overall production and reserves base. The Company seeks to optimize its oil pools on existing lands through the application of practices in horizontal drilling and, where feasible, with water floods. Its areas of operation are along a resource, Fairway, which consists of the Central Alberta and South Alberta. Its Central Alberta includes Gilby-Duvernay, Crystal, Cherhil, Kaybob, Ferrier, and Ante Creek Waterflood. Its South Alberta includes Matziwin, Skiff, Herronto, and Medicine Hat EOR.


TSX:JOY - Post by User

Comment by Buyreallowon Jul 29, 2022 2:09pm
228 Views
Post# 34860676

RE:RE:RE:Q2 Results Thursday!

RE:RE:RE:Q2 Results Thursday!Upon further review, the average WTI price of oil for July to date is $101.78.  With Just 3 days left, it appears the July average will be over $100 which would mean JOY's payment for July would be $4,000,000 plus ((445000000*.10)/12)=$375,000) in interest.  Closing is not expected to be until October 1, so they have a few months to build up their cash reserves.  They do state in the NR that expected cash flows from operation will be sufficient to meet the new Aimco and VTB obligations.  The vendor of the assets is Enerplus Corporation (TSX:PER)  Let's hope oil prices stay high for a while.
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