Bonterra Energy Corp T.BNE

BNE Peters & Co webcast: Montney land bought for $ 2 mln.Wow

[Resilience2]

Here's the link Peter & Co link, some juicy parts:

 

https://bonterraenergy.com/investors/#presentations-and-events

Go down to 18 Sept. A couple of comments I found interesting/juicy:

 

1. All the Montney acreage was only bough for $ 2 mln, which is amazing
2. They hired a BIR-geologist a couple years back and he's been involved in picking this acreage - again the BIR link
3. And we now have the BIR VP of operations onboard who basically swapped his 75k BIR share for 100k BNE - I am liking this Montney asset, we bought for peanuts, more and more 
4. Montney is the potential high growth component, Cardium is bread & butter 
5. That area is hot & heating up quickly 
6. The Montney well had to be drilled this year to keep the acreage (35 sections)
7. Other 10 section will be extended with another drill
8. They will remain within Capex guidance
9. The other sections are extended if they do another drill  
10. In the Cardium, on average they drill and complete 20% lower cost than any peer 
11. They are the pre-eminent operator in the Cardium 
12. If M&A is successful they are looking at packages of 4.000-10.000 boe/d mostly private companies - much higher than I expected (they would prefer a 20k BOE/day company, also to get more institutional investors 
13. Missed the context a bit but the CEO also said something around the share price being up helping deals (but check for yourself) 
14. Needs to be accretive and debt after M&A won't exceed 1.1/1.2   

 

On Divvy all materials now say latest Q1.'24 (My note: if prices stay this high may be end Q4'23)

 

Matter of time this one guys. With 25% FCF going forward.  

 

Happy hunting,

 

R. 

[TheRexmember]

Nice work, nice summary. I couldn't do that without 30 typos lol.