Oil Down Day - Kelt keeps charging aheadOil is down and Kelt is up on big volume, 506 K shares traded today on my TD account.
There is pent up demand, for the shares of Kelt so there is either big news on some big wells or there is big interest in one of the most significat Montney Plays left to be exploited (Wembley/Pipestone)
Analysts have price targets on Kelt as high as 11.76 (50% higher).
The issue is this, Kelt has been cycling new wells through the existing infastructure at Wembley/Pipeston in preparation for additional plant capacity that will be available likely before year end.
Kelt with increase cash flow and zero debt, will be able to accelerate OAK, Charlie Lake, and drill the well needed for a big increase in production at the end of 2024.
There is a lot of anticipation on kelt, and perhaps they have sold off Wembley Pipestone, and a very likely suitor would be CNRL.
Kelt continues to be the best pick for value, and liquids rich montney is where it at, and there are not a lot of play around of this size.
Maybe the plan is for a christmas present for all Kelt Shareholders.
Don't know what to say, but i was severly overweight Kelt and i have trimmed some. I am at a point if it goes down i will buy back, and if it goes up i am here for the ride.
IMHO