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 > What am I missing here?

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Comment by Maxmoeon Feb 21, 2023 1:38pm

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Post# 35296703

RE:RE:RE:RE:What am I missing here?

I'm still watching for the red flags to be lowered to half mast if not completely removed. From last august press release

"inaugural three-well drilling program in October 2022" no mention of 2023.

then the November press release
"Subsequent to quarter end, the Company commenced its three well drilling during Q4 2022 and Q1 2023"

and lastly the end of year preliminary 2023 guidance

"The Company’s 2023 development program is focused on the completion and tie-in of the currently underway three-well Mannville drilling program at Brown Creek and Stolberg during the first half of 2023. Once complete, Pieridae plans to pause drilling operations and assess results prior to resuming development, subject to success of the initial program and capital availability."
Anyone else see the trend? Timeline slippage?

since then we've been submarined. Running deep and silent on those wells. Could be due to several reasons, but one possibility is it's disappointing results. If it was great, I suspect it would be leaked or even press released or a casual mention of encouragement. We got nothin. That and the stock hit my stop just over $1 so I'm out and waiting for a reentry point. I doubt the stock jumps more than 5 or 10 cents on even great drill results so I'll get a chance not to miss the drill story. Also nothing swirling about the far more critical debt refinancing has me concerned some private equity money will scoop this one up for super cheap takeunder. The east coast is thankfully a nogo political boondoggle we avoided. The low decline reserves, the super cheap midstream pipe and processing assets are "free" and the sulphur stream, once the ripoff deal is done, is a grand slam. I love an underdog. Pea and alfie are underdogs. Do I have to wait until March break and the quarterly results or will we get an update sooner rather than later. That's the key to me. Update on financing is #1, drilling a distant #2. Good luck to all. MM