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Kelt Exploration Ltd T.KEL

Alternate Symbol(s):  KELTF

Kelt Exploration Ltd oil and gas company. The Company is focused on the exploration, development and production of crude oil and natural gas resources in northwestern Alberta and northeastern British Columbia. The Company's assets are comprised of three operating divisions: Wembley/Pipestone in Alberta; Pouce Coupe/Progress/Spirit River in Alberta, and Oak/Flatrock in British Columbia. The Company’s British Columbia assets are operated by Kelt Exploration (LNG) Ltd., a wholly owned subsidiary of the Company.


TSX:KEL - Post by User

Post by MyHoneyPoton Jan 15, 2024 9:55pm
253 Views
Post# 35828148

Couldn't help myself

Couldn't help myself
I couldn't help myself and picked up a few more shares today at $5.61 a steal of a price. 

AFFO per share is $1.76, so that means Kelt is trading at 3.18 time AFFO when i picked up those share or another way to look at it is every share is associated with 31.4% AFFO.

My guess is the reason we have not go an update is that the flush produciton of the Wembley wells, means you have to be methodical in the way you bring them on. Also they were have gas plant issues with on of the other plants before they received access to the addition plant, so they likely had their hands full in the field. Ten additions wembley wells in total will be tied in from 2023 drilling. 

Altagas did announce an expansion late in 2023 for the Wembley/Pipestone gas plant, the million dollar question is did kelt subscribe for additional capacity to what they already have?

2023 was a very active year for kelt but gas prices did not cooperate slowing down oak a bit, and gas plant issues riddled Q3 and into Q4 that will make their year end numbers a little lower than they should of been, but with the rock solid balance sheet it simply means a little delay in production rampup. 

I do think Q1 will be a big Quarter for Kelt and a significant jump in production from the 28,000 boe day Q3 number. 

Going forward at Wembley will now be pad development, so it will result in more efficient lower cost operations. 

The fall off in Kelt price is overdone, and now it is just a matter of patience and all the DUC's fall in line. 

IMHO


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