Bonterra Energy Corp T.BNE

rex

[kavern23]

why did bne miss this..seems cheap

https://boereport.com/2023/10/19/tamarack-valley-energy-further-advances-core-asset-focus-with-the-sale-of-non-core-cardium-assets/

[Resilience2]

Aro & gassy.  Heard they passed on something - prob this.  Gotta be the right deal and add to T1 or improve drill inventory. With 60% gas, and thus ARO, this is not it.  If Montney works, and by now they must know something, the drill inventory will improve.  If acquisition is not close, why bother?  R. 

[kavern23]

The domino effect I guess also depends on if Ricochet was the buyer of TVE cardium assets. If Ricochet got this they would be closer to 17000 BOE range and have a product mix more similar to BNE's. So hard to say if any future deal is closed....BNE was worth more than Rico before this (which would make a deal harder) as BNE has better reserves than Rico but now probably closer to equal value

[Resilience2]

If Rico bought this, chances are that BNE is not interested anymore. The assets weren't great, much worse than Rico's.  Price was low so maybe but it sure isn't an upgrade voor Rico if they bought it.  R.

[kavern23]

The assets do have one attractive part, part of TVE cardium assets came from TVE buying it from Suncor years ago.  The gas plants and oil battery are probably very decent, Suncor would have spent money doing things right. For mature assets and even being gassy, the operating costs are prob decent for purchaser as isnt much third party processing needed. With right pricing probably can bump

[TheRexmember]

I think this was TVE viking production if I have the right area. I don't really want to be on the Viking treadmill that much.  Very economic and the IRR was great but 125 million plus the ARO for an oil cut 2400 of barrels of oil - would much rather pick up Entrada for the price. Entrada has a better location, plants near, JV sections, lots of land in the package and mgt knows it

[kavern23]

No that TVE cardium property sale is near bonterra land, alder flats kinda by Buck Lake. I think it becomes harder to offer a winning bid when TVE likely doesnt want any shares in any deal. TVE wants cash to drill and lower debt not shares. I dont think matters as probably lots of deals beyond this in cardium. This could be first shoe to drop. Saturn may be sell have their cardium for sale

[TheRexmember]

Ah. Makes sense Kav Bizarre how much it has evolved into a constant stream of private to public to private to public transactions.  The listed companies have way more info available so too bad there.  Their are so few listed small to mid cap producers now that those companies with solid management might start to have scarcity value. I am willing to bet a lot of private co