Highwood Asset Management Ltd V.HAM.WT

Primary Symbol: V.HAM

Energy Oil & Gas E&P

Highwood Asset Management Ltd. is an oil and gas exploration and production company. It is engaged in the ownership and oversight of various operations with a primary focus on oil and gas production, with operations also in midstream energy and land holdings of metallic minerals. The Company conducts its operations in Western Canada, primarily in the province of Alberta. The Company operates in a single segment. Its metallic minerals segment includes industrial metal and mineral assets. Its Wabsaca River Sales Line is located 450 kilometers north of Edmonton and delivers onto the Plains Rainbow System. It operates at a capacity of approximately 20,000 bpd as an open access carrier with set published tolls.

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Highwood Asset Management Ltd > Q1/24

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Post by Loughatorickon May 16, 2024 2:39pm

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Post# 36043969

Q1/24

Second stellar quarter.

5 new wells drilled with production largely to be recognized in next quarters.
Production up approx 25 % from Q4/23.

Current production for May 24 is 6,000 boe/d.

HAM plans to drill 6 more wells in next 4 months.

Ignoring the 'gain on acquisition' reported in Q4/23, EPS increased.
Netback over 37 %.

HAM converted most of their industrial metal (lithium) permits to leases. This means that HAM is one step closer to being able to develop (or sell) the lithium reserves.

HAM reiterated their guidance goals.

Sunny days. Have a good week-end.