Post by
Bennys65 on Mar 05, 2023 9:21am
I like this stock
As you know this is a new company.I like getting in on the ground floor which is what I did with headwater before they took over cve clearwater assets 1.50.Operating and board are mostly ex and present operators fron raging river and headwater.Neil is special advisor to the board.Cpg just announced that they are using multi lateral techniques. in viewfield and getting great results.General buzz in the industry is that this application may act in other older fields snd cpg results have got their attention.This is what Lcx is doing with success in loydminister heavy oil..They just announced a merger for 50 million cash in this area adding 1500 to 1800bpd..Still no debt.Going forward they can see 3300 becoming 6600 by end of 24 through organic drilling.and spending within cash flow.These assets are low decline.Their literature says they are getting a 60% pop on drilling results by spending 15% more and using multilateral drilling.Only one analyst Dan Paine natioal follows it.Early days may do nothing for a while as it is on no ones radar but going forward could be very interesting.
Comment by
GoJerez2 on Mar 05, 2023 8:05pm
Thank you for the post Benny..... I picked up some based upon your recommendation. Love nil debt and using technology to maximize the flow. Energy looks to be the place to be for a few years. maybe HWX will consolidate all the smaller guys and become a new mid size company.
Comment by
Bennys65 on Mar 06, 2023 6:19am
Number correction.!500 +1250 2750 becomes 5500 end of 24