Great Quarter - Should be Green, Buying OpportunityKelt has a new gas plant that came on in Dec that had 2 weeks of down time in Q1, that caused them to be like 3290 compared to their 34,000 projection.
They produced 34,000 for the entire month of march once the plant was restored.
They drilled another Charlie lake well, came on inline with their other well 1200-1500 boe north of 70%+ liquids.
Adding 8 wells at Oak Montney in BC, now Oak has 45 MMcf of processing capacity there.
CVS Albright is hiring people for their gas plant, that will add 50 MMcf at Wembley where they drilled 14 well in 3 well pads.
Kelt will be over 50,000 boe/day in Q4 2024 -Q1 2025.
The market did not realize this resport is inline with their forecast. However Kelt did not make a provision for a gas plant having two weeks of unforecast downtime.
All it means is NAV will be higher at the end of the year because they were down a bit the first quarter.
Kelt is the cheapest stock in the market a real buy opportunity.
IMHO