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Headwater Exploration Inc T.HWX

Alternate Symbol(s):  CDDRF

Headwater Exploration Inc. is a Canadian resource company engaged in the exploration for and development and production of petroleum and natural gas in Canada. The Company has heavy oil production and reserves in the Clearwater/Falher formations in the Marten Hills, Greater Nipisi and Greater Peavine areas of Alberta and natural gas production and reserves in the McCully field near Sussex, New Brunswick. The McCully Field is located approximately 10 kilometers (kms) northeast of Sussex, New Brunswick in the farming community of Penobsquis. It owns and operates a natural gas processing plant, with a processing capacity of approximately 35 mmscfpd, and a 50 km transmission line connected to the Maritimes and Northeast pipeline. The McCully Field is a winter producing asset connected to the northeast United States gas market. The Company drilled its first stratigraphic test and single-leg horizontal well, prospective for heavy oil, in Handel, Saskatchewan.


TSX:HWX - Post by User

Post by Bennys65on Jan 20, 2023 9:16am
338 Views
Post# 35235233

hwx

hwxAs you know I am big on waterflood.HWX seeing the results of tve has said they believe that they have the same rock as tve and are starting a waterflood in the top of west martin hills.What is new in their recent presentation is they are going to do a new pilot in the middle of west martin hills where they have been getting great results.Takeaway hwx is bullish on their waterflood potential.When we first bought exploration land the presentation showed a diagram outlining the edges of greater peavine potential for clearwater,Lot of land ,lot of players.Recent diagram shows the sweet spot in green for clearwater potential.Needless to see all our land purchases fall within the sweetspot and the same for tve.Lastly.Company annouced a credit line for 100 mil with no immediate plans.This is with us having over a 100 mil in the bank and no debt.Clearly they have somthing planned and time will tell.
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