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Tenaz Energy Corp T.TNZ

Alternate Symbol(s):  ATUUF

Tenaz Energy Corp. is a Canada-based energy company focused on the acquisition and sustainable development of international oil and gas assets. The Company has domestic operations in Canada along with offshore natural gas assets in the Netherlands. The domestic operations consist of a semi-conventional oil project in the Rex Member of the Mannville Group at Leduc-Woodbend in central Alberta. The Netherlands natural gas assets are located in the Dutch sector of the North Sea. The Company also has an ownership interest in Noordgastransport B.V., which holds gas gathering and processing networks in the Dutch North Sea.


TSX:TNZ - Post by User

Post by TheRexmemberon Oct 07, 2023 1:07pm
396 Views
Post# 35674638

The next deal

The next deal

The pipeline is full of potential deals, but I think the next one will be a company maker. The worst kept secret is that Shell and Exxon are trying to exit the Netherlands. All of their Dutch North Sea operations are up for sale. The 50/50 NAM JV was rumoured to be worth around 1 billion but who knows what gas prices they were using at the time? 

There has been a news blackout since the Enercom conference, no insider buys, the stock is drifting higher during an ugly week for O and G stocks. A few weeks ago a Dutch reporter mentioned that Tenaz had first crack at the NAM sale and is pending financing. And Shell and Exxon ALWAYS leave their assets in great shape. 

Recently the Dutch government closed the on-shore Groningen field - hitting domestic production pretty hard. Focus is moving back offshore, finally in a positive way. At the same time they announced spport for DNS production and possible incentives to develop smaller offshore fields. 

This looks to be an incredibly opportunistic potential deal right at an inflection point. I expect the size and scope will surprise the market. 

 

 

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