Kelt a fun ride - Ramping up production in Q4Charlie Lake - One of North America best oil Opportunities
Charlie lake wells pay back quickly, they come on strong, and you looking at 70% oil.
The Charlie Lake could be the best prospective oil play in Alberta, it trumps the clearwater interms of production, it is very low cost at spirit river 3.5 million for a well, and return on Capital is quick.
Wembley/Montney Oil
Kelt will likely have a few challenges switch to pad drilling from individual well drilling but Kelt knows the resouce is there. Where else is that a prolific oil rich Montney play like Wembly/Pipestone? This play is worth a multiple of Kelts current market cap.
Really OAK is a longer term project, and somewhere less than 5% - 10% understood/deliniated, Kelt work a oak is more of a long term prospect, based on the knowledge they gained developing Inga and selling it.
Balance Sheet
Kelt has the best balance sheet in their play areas, once the CVS Albright plant start processing Kelt will have a lot more fiscal muscle and i expect they will be filling in some of those Charlie Lake land blocks.
Kelt is to cheap at these levels and it will be a fun ride for the rest of 2024.
MHP
IMHO