Peters presentation The only things I would add to your note
1. they addressed possibly divesting the Montney asset if it makes sense to do so. That could be very material to bne - 100 million plus with a bit of production online. At least 2 wells needed to maintain careage. One started in 2023 and one in 2024.
2. a few tidbits on the quality of the acreage - targeted by their Birchcliff geo who wanted to parralel a liquids rich fault line. Stupidly cheap price paid, well done.
3. Other operators are drilling toward their acreage with a lot of success. Kelt named. Ovintiv has a facility nearby.
4. specifically mentioned 4k to 10k boe/d cardium acquisition range. Typically private companies and Ideally with shared or close to owned facilities. On the low end that perfectly matches Entrada. Some drilling locations, lots of 50/50 JV land, 4k of production last I looked. I speculated about that 4-5 months ago too. No idea if they are for sale.
5. Comment on share price - already mentioned but I agree it was a tell that the price is making acquisitions easier. Whether to hit internal metrics, to pay more for targets and still be accretive or to make targets want stock. It helps all three.
6. my note - his concerns about liquidity would be addressed with a 50/50 share/debt takeover. Much easier to put in an ncib with the higher share count. And/or an all cash offer with a share issue to institutional investors.
7. he mentioned several times that the 20k bpd is a hurdle he wants to cross to attract more institutional investors. Expect a higher profile going forward.