Birchcliff Energy Ltd T.BIR

Alternate Symbol(s): BIREF

Energy Oil & Gas E&P

Birchcliff Energy Ltd. is a Canada-based intermediate oil and natural gas company. The Company is engaged in the exploration for and the development, production and acquisition of oil and gas reserves in Western Canada. The Company’s operations are focused on the Montney/Doig Resource Play in Alberta. Its operations are concentrated in the Peace River Arch area of Alberta. The Company has a 100% working interest in its Pouce Coupe Gas Plant and two oil batteries, as well as various working interests in numerous other gas plants, oil batteries, compressors, facilities and infrastructure. Its Pouce Coupe Gas Plant, which is licensed to process up to 340 million cubic feet per day (MMcf/d) of natural gas, is located in the heart of the Corporation's Montney/Doig Resource Play.

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Birchcliff Energy Ltd > Debt repayment

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Comment by bossuon Aug 10, 2022 4:16pm

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Post# 34886218

RE:Debt repayment

Just a quick note on debt repayment in the Q2:

$142 M debt reduction compare yo Q1 at $ 90 M

At $ 47 M per quarter :
Debt at June 30 $ 266 M/ $ 47 M = 5,6 months
So debt free By Mid december

''These results allowed us to significantly reduce our total debt⁽³⁾ at June 30, 2022 to $266.9 million, a decrease of $504.0 million (65%) from June 30, 2021 and $142.1 million (35
%) from March 31, 2022."

bossu wrote: Debt at December 31 was $ 499 M and at March 31 $ $ 409M for a reduction of $ 90 M

Target debt reduction for 2022 according to Q1t financial report 175 M to $ 195 was announced !
Whit the increase selling price in the Q2 it will be interesting to see the number
allocated to tg the debat reduction but we may see a $ 175 M debt reduction in the Q2 bringing a ''0''debt by the end of the year or sooner.
We may expect a dividend increase by the Q1 2023
So better pay debt and take care of the shareholders later on or 6 months from now.