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Lycos Energy Inc V.LCX

Alternate Symbol(s):  LCXEF

Lycos Energy Inc. is an oil-focused, exploration, development and production company based in Calgary, Alberta. The Company is engaged in the exploration for and development of petroleum and natural gas production in western Canada. The Company is engaged in operating heavy-oil, development assets in the Lloydminster, Greater Lloydminster area and Gull Lake, Saskatchewan. The Company also owns approximately 12,335 net acres of Wyatt land, including over 20 net drilling locations, which has a production of about 400 barrels of oil equivalent per day (boe/d). Its acquisition focus is primarily in the Lloydminster area. In addition, the Company retains low-decline, long-life producing assets in the Gull Lake / Swift Current area in Southwest Saskatchewan.


TSXV:LCX - Post by User

Post by Bennys65on Sep 02, 2023 7:10am
247 Views
Post# 35617308

Lcx and Hwx

Lcx and HwxIt is not news that all the lcx management are ex raging river and 3 of the six board members ex neil run companys plus you have Neil as special advisior.to the board.A little incestuous.So lcx goes public in nov and is quickly ramping up production while keeping debt low and doing small takeovers.The new low perm heavy oil fan type drilling idea is out of the bag Other companys are looking at their land and to other land for potential..At this point lcx does not have enough cash to go on an aggressive land buying binge without taking on a lot more debt.Enter HWX.Last quarter they bought 121 sections of low perm heavy oil prospective land incresed their cap ex and signeled they are buying more.Formed a new ventures group within hwx and put their head geo in charge.In short getting ahead of the other companys because they have the cash.Given how close all the people are in both companys I expect there is some plan in place for a combination at some point in the future.This is all spec and too much coffee on my part.
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