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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

Comment by Bennys65on May 13, 2023 7:39am
243 Views
Post# 35446745

RE:Yes

RE:YesThanks for that marketsense all good points.West martin hills is at this time a standout.From 100 bpd to 5000 in 18 months all self funded is very impressive.Our avg production quarter 4 was 15500.Avg production quarter 1 17000 plus with 17 wells drilled and only 9 on production the other 8 waiting to get tied in..The next 3 quarters will see more drilling.Early waterflood looking good .Hard to imagine how they keep avg production for the year under 18000 even keeping martin hills core flat.and not looking fror any meanungfull production from exploration properties.They are also looking at two other zones.The general sense out there is that hwx is exspensive relative to its peers which is justified due to pure clearwater exsposure,no debt,and superior management.There is only one company out there that compares with hwx.Spur ,a private,is a pure clearwater player growing last year over 25% we are 38% NO debt,cash in the bank,production 30,000plus, and a clear path to 75000 bpd.Their land base and inventory are larger than hwx.Last year they paid a 5.00 dollar div.Its no wonder that Rafi at canoe has hwx as his top holding.
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