RE:RE:RE:RE:2023 Reserves Release I'm not sure I agree with Nugget Capital Partners that Crew has a "significant cash flow negative situation and near term debt build" there may be some, but, as I recall they were aware of market conditions and planned their pivot to condensate over several quarters. Further, I think they had some DUC's in the West Septimus that they completed and brought on line, or am I mistaken? They could not have brought production up >80% from Q2/23 by Q4 to 7,000bpd could they have?
There is no over emphasis on "switch to condensate" from Crew. They are stating a fact, they have optionality to pivot, so, in the light of current market conditions - they pivot. I feel this summary from Nugget is trying to put a negative spin on Crew.
"Laying the groundwork for bad news" - Good Grief.
I'm expecting they go from 7,000bpd to 11,000 in 2024.
And I also suspect they announce holding off on their "broader plans" (the Groundbirch Plant) which in my view is a positive thing in this environment, not a negative thing.
thank you for sharing their summary.
I went over the Investor Presentation (again) several times this weekend to remind myself I'm in the right space.
Also: I watched to LNG Canada most recent updates on YouTube, and, I am quite convinced Phase II will be sanctioned in the future, there is a hint of it in the update. Shell Canada will want our Land. This is a land (Reserves) play I'm convinced more than ever.
My one worry is that Canoe Financial and the other Large Holders own enough shares to sway a vote and let the Company be given away to an acquirer that they also hold and have even larger positions in.
This will be an interesting week! I am holding the line myself, I'm here to see what the land fetches in a few months when Kitimat is humming along in production mode!
Good Luck Guys!
PonyBoy Outsider