Bonterra Energy Corp T.BNE

Entrada not so bad too = 67% liquids & ARO Ricochet

[Resilience2]

Entrada wouldn't be such a bad add on but not much land added. No top 10 wells. Not sure many additional synergies. 

Ricochet would definitely be better and I think it's likely they have ARO, $ 100 mln they paid to ARC was peanuts even if at bottom. 

Montney well is drilled as we speak; succes might help get a seller onboard. 

R.

[TheRexmember]

Take a look at the acreage slide on Entradas website. If you compare it to the Bonterra land you will see a bunch that is joint ventured and the undrilled land is right beside our acreage too. It adds a decent number of drilling locations for the price. If 60% oil they should be worth 100 to 110 million today. Easily doable.  should be able to pay off any debt in two quarters.   

[kavern23]

I don't think it makes sense for either IPO or BNE to pay 100m plus for Entrada. Entrada doesnt have any high oil producing wells like Rico does. Think BNE should aim for 60% on oil and not liquids. Hedge cruve is poor right now on NG so cant really hedge alot of new stuff. It really depends how much pay for flush production per flowing barrel. Also more consolidation potential in Pembina

[kavern23]

Probably can get ARO savings if a bigger size. OBE does 20m a year on reclaimation and same with future years. Combined company could afford that quite easily.