Pine Cliff Energy Ltd T.PNE

Q2 out

[TheRexmember]

Didn't see any note on current debt. 

Free cash flow up a few hundred thousand compared to Q1. Expenses pared pretty hard. Looks like net cash of about 5 million in the Q after dividends. 

Stronger hedges and better prices in the last half should move free cash flow 10-15 million higher. 

50-55mm in free cash flow should still be a reasonable target. 

no point in recompleting Gas wells with crapp prices. 
 

steady as a rock.

[blackdog]

Term loan is down $2.1M from 2023 year end; now at $54.2M. This means that they made their quarterly payment (this was deferred in Q1).  The line of credit draw was up 1.4M in the same period; now at $5.4M. They have letters of credit outstanding of 6.6M; and increase of 5.8M since Dec 31. As you said, essentially flat and steady as a rock.

[TheRexmember]

Thanks for digging that up. Looking at the presentation, on page 4 it shows 2.75 AECO and 80 WTI cash flows about 60 million annually.  half of the gas and oil production in H2 is hedged at 2.78/100.00  30 million+ in free cash flow seems an easy target to reach in the last half. There will be some price upside with the first cold snap. After divvy and capex at least 10 million will