Pieridae Energy Ltd T.PEA

Debt Reduction

[Dazzle01]

Significant head way has been made on reducing debt. At the current level of debt the Regulator should approve the asset transfers from Shell to PEA. Holding title to the assets creates the ability to get more favourable financing terms. With the added bonus of drilling success and PEA owning the infrastructure creates additional upside and options to generate Joint Venture opportunities and off balance sheet financing. What’s especially attractive is the relative short time from spud to on stream and no facility constraint.
I suspect management is actively pursing various financing options as well options for production growth. The start up of the Coastal Gas Link in 2025 Is a game changer for western Canada gas producers.

[noname99]

At the conference call in March, Adam Grey said: at this time, we are not considering other strategic alternatives and They were optimistics to announce something very soon. I would like to know more about that

[commonsense101]

Debt reduction details are discussed in the PEA Debt thread running at the same time. Counting what they paid off in Q1, there was $190million to go. (It started at $206m 3.5 years ago). As you will see noname99 asked them about the rest of the year, and they are talking about paying off something in the neihbourhood of $15m in 3 quarters. No surprise. Prices are back where they were when PEA

[noname99]

they are probably in discussion with TEC, to propose a business plan, short, medium and long term...maybe include  the carbon capture caroline.  They've already said  that 2 companies showed a signifiant interest in recapitulizing Pieridae with the view of developping long term gas supply for their needs.   sulphur price contracts end in 2025 and forecasts are good