Crew Energy Inc T.CR

Crew Update

[silverbaby]

I'm lovin it!!!! 30,000 boe per day, divestment of heavy oil. Onward and upward.

[Oldnagger]

Sounds like the good news is Groundbirch. Based on what they are saying , nat gas reseves could easily double !! And the value even more so !! That still leaves 154000 acres of untested land. Simply mind boggling !!

[Seppelt]

Only $10.3 mil for Lloyd? Who was the buyer?

[BeatTheOddsSqua]

Sepelt, try adding $34.5 million in ARO to that number and reducing Crew's op costs by $0.70 per boe. You will feel much better. The Buyer wasn't mentioned in the release but they would have to be able to have the transfer of over 600 wells to their company approved by the AER.

[Seppelt]

Beattheodds, We knew about ARO and the fact that the average corporate operating cost was higher than Montney, but having it listed for many years and ending up with a small change. Some people here hoped at least $50 mil, or $30 min. Probably spent more money on it the last 4-5 years. I guess, they patiently tried but there was no market even at higher oil prices.

[BeatTheOddsSqua]

Sepelt there are lots of metrics used to measure a property's value. Reserves, Production, Cash Flow, Facilities, Undeveloped land.  Lloyd may have had decent reserves, facilities and undeveloped land. But 1000 boe/day of heavy oil from 600 wells (1.67 boe/day per well) is a pretty tough sell. On a producing bbl /day metric, $50 million would be $50,000 per flowing barrel...those are

[Beakr123]

I think it speaks for itself. Not the most attractive piece of property and probably more of a liability than its worth. Its good they shed the asset regardless of the price. Its certainly disapointing when expecting higher numbers like the 30-50 million range but I guess you get let down when you believe some of the estimates certain folks on this board (*cough* Cheadle *cough*) come up with

[TouchDown12]

Beakr - I actually put a stink bid in this AM to re-add to my total share count after selling a few shares at 3.40 about a month ago. I never got filled. I won't chase to much cause i have lots still... but i will buy back any shares i sold on any bad day for the sector (maybe COP26 BS next week?). I hope you and others waiting on the sidelines will find the right thinking and price point to

[Moemoney42]

Just noticed the press.. although it would have been nice to get a bit bette price as one other poster said the liability of the old assets comes off the balance sheet as well, and this money can be used to advance their better plays.. all good.. stock moved up.. price looks stable here and can easily move up now from these levels.. I'm happy.. ;-)