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Pieridae Energy Ltd T.PEA

Alternate Symbol(s):  PTOAF

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.


TSX:PEA - Post by User

Comment by Maxmoeon May 29, 2023 3:23pm
133 Views
Post# 35469137

RE:RE:RE:RE:Q1 Results

RE:RE:RE:RE:Q1 ResultsScrew nice. This is survival. If you haven't , and/or alfie hasn't figured it out yet, there is a big surprise coming. Hire me. Watch me. I'd tell shell, no more sulphur. I'm sure the contract requires all sales be done to or through shell. But if it's just stockpiled, or left in the stream for someone else to produce, or any other way I can figure out how to work around those terms .....I'm going to figure it out and do it. Sure, pea agreed to a completely onerous one sided deal because they had to. But that's why pea is at the brink and the regulator won't sign off. If pea, or whoever buys pea assets next, made that extra $90 million last year, this year, and next year, pea would be a debt free cash machine that the regulator would be comfortable with having the wherewithal to meet the environmental obligations and other shutdown costs shell wants to offload. I'd have it done in a month and have shell convinced it was their idea in the first place to scrap the existing sulphur deal. The sulphur deal was a minor consideration when the contract was drawn up. Time to make it a minor impairment to pea before it's fatal. 
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