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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 May 28, 2023 11:45am
257 Views
Post# 35467834

2024

2024Spent some time trying to get a sense of 2024.Looking at hwx presentation, slide three, developement strategy,we can see they already know how big west martin hills,west nipisi, and greater peavine are.Lots of inventory for 10 years plus.They show at 75 wti,we average 20,000 bpd in 2024 grow at 11% and free cash flow doubles.Easy 50% increase in the div next year.If oil does what some say the numbers just get bigger.No waterflood baked in,no other horizons,three in west martin hills, accounted for.Nothing acounted for more exploration success.Ian Dundas says we are in the sixth inning in the clearwater so lots of room for improvements going forward.TVE just says it is early days for the clearwater.Spur said in their presentation they are making money so fast they cant spend it,which is why they had a 5.00 div last year.All in it is impossible to really know where this goes but Ithink hwx in their presentation is being very conservative.
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