RE:RE:RE:RE:RE:RE:RE:RE:Q1/2023 COP CC Second Question by Neil Mehta On SurmontGlad to see your post, I have been a shareholder for a very long time. The attractions for me are many , including a huge contingent resource of heavy oil and the willingness of the company to rapidly reduce their share count, which of course leads to an even greater amount of reserves per share. Meanwhile, backing by the Lundin group gives them not only access to expertise, but also to financing
This has been one of my top performers and is well worth your attention IMHO .
PabloLafortune wrote: There is an oil and gas public company trading on Stockholm and Toronto stock exchange called International Petroleum. Symbol IPCO on TSX. About 50,000 boepd. They have oil and gas assets in France (5K boepd), Asia (5K boepd), and Canada (rest). Canada is mostly thermal heavy oil Onion Lake and natural gas. The company is controlled by the Lundin family. They have been running an oil sands pilot in Alberta known as Blackrod for 10 years. They have all necessary approvals up to 80,000 bpd I believe. The Board of Directors recently approved phase I of the project ie 30,000 bpd. C$800M capex, $300M+ in 2023, the rest in 2024. They will start production in 2025 I believe.