Bonterra Energy Corp T.BNE

Current production

[TheRexmember]

Looking forward to finding out how the winter drilling went in the next report. 

the March presentation shows completions starting in late February and production finally ramping over 14,000 boe day again in April then it increases again late in Q4. Nice to see a comprehensive plan laid out. 

Thinking with the latest opec cuts that WTI will average around 80.00 for the first half of 2023 and 90.00 for the last half to average 85.00 for the year - if so FCF should be well over 100 million.

18 million is budgeted for the term loan, with 35 million in extra drilling that leaves 50 million or so for the divvy. About 6 months later than expected but starting it at 1.00 per share late in the year gives them more than 12 months of dividend coverage in Advance. They show it on the presentation as a negative balance. 

with a relatively flat drilling program into next year that should add 30-40 million in cashflow growth for 24. 

looks like a great year ahead.

[Resilience2]

TheRex, did you phone them and check what the laglace well was about? Something is going on. I think it's Kelt area. Check the well on petro ninja and then check P20 and then P25 to cross reference with the well point in Kelts April presentation.  Also check BNE presentation for the ROC on P11: don't expect $ 1 divvy, they lay it all out there. $ 85 oil = $ 0,66 yearly divvy. 

[churchofnutsacc]

Their presentation says 25% of free cash flow to be returned back in way of dividend. We would need $150 oil and $6 gas for a $1 dividiend. I'm guessing something like 5 cents a month if we are lucky. My question is, what will they be doing with the remaining 75%?

[Resilience2]

Well, you don't have to wonder: it's all there in the presentation on P11/P12 for various WTI scenarios. Check the sand coloured Discretionary FFF pie piece for each WTI scenario and this is what they will do with it:  "Discretionary Free Funds Flow will be directed to Sustainable Production Growth, Debt Retirement, Increasing Shareholder Returns & Acquisitions."