Paramount Resources Ltd T.POU

Westbrick was purchased but not by POU

[MyHoneyPot]

I believe that Westbrick is partially owned by POU, so we should hear something with respect to that. I don't remember the exact percentage, but i do think this sale will add some cash to the balance sheet.

Vermillion Purchase of Westbrick Link

Westbrick has been for sale for sometime.

I am sure we should get more details later today.

IMHO
MHP

[Tothemoon2]

I couldn't find the percentage owned when I looked last week.

[MyHoneyPot]

Going from memory i thought it was 5%, but I am not 100% sure. IMHO

[Moemoney42]

Assuming you are correct in the % that would add about $54 million to POU's balance sheet for Q1-25.. nice..! That would drill us another 5 wells easily or another $.35 special divi..?   ;-)

[MyHoneyPot]

I am pretty sure JR, knew everything that was going on here.  WESTBRICK is divesting themselves of the Duvernay lands before this deal closes, so they are not part of the deal. POU could of bought Westbrick for about a billion, and that would of added 57,000 boe/day.  Their decision not to, makes me wonder what else POU is up to, and perhaps their more concened about enhancing the

[Tothemoon2]

Could POU be the buyer of the Duvernay lands?

[MyHoneyPot]

They could but some times POU hold shares in private companies, so the assets may be in a small company that POU owns part of. With POU you either trust the management, or its not the investment for you. They don't lay all the cards on the table.  IMHO MHP

[PabloLafortune]

I feel Vermillion overpaid for Westbrick. If I compare the reserves that TOU paid for Crew and Peyto for Repsol. Or what Spartan is trading for. Which is their pattern of using the international cashflow to IMO overpay for Cdn assets. Its why I didn't buy that stock based on past history and guess what, history has repeated itself!!! I'm glad POU didn't buy that deep basin gassy stuff

[MyHoneyPot]

It would not of been my first choice for an asset putchase, but i listened to the confrence call and the Westbrick assets are producing 57,000 boe/day right now, and its over a million gross acres and 700,000 net acres, tons of land.  Also 102 mmcf of gas processing (4 plants), and there is 120 wells already partnered with VET deep basin assets, so it was a fit with existing assets.. What i

[BradSiim]

I have bought this stock after I saw an interview with Leon Cooperman on CNBC in the early fall. This is a great exit for the founders of the company to take a bit of cash off of the table, but I wonder how good it is for the investors? (It looks like it could be excellent, but for sure the stock price is going to drop into the $15 range? The bigger point that I want to propose ...  POU is

[WillyGreen]

Pou not for sale. We get back to $35 in a hurry post-dividend. This company is a generational company. Nor for sale. Just assets for sale  once they mature. 

[WillyGreen]

Fyi - I've put Auburn2 on the ignore list. He was riding me on my payfare investment of 4.4m at 2.05. Definitive sale agreement with Finserv at $4. Just ignore Auburn. 

[auburn2]

Well, Willy, you must be good this holiday season with all those extra millions you've made. I told you congrats and offered to correspond with you privately as an investor buddy.

[PabloLafortune]

You know a lot more than me MHP so it probably will work out, I just saw the reserves being so low I felt for the price paid, I'm also not clear what their overall strategy is either.  For sure AECO is just a mess now, how can prices linger so low when US pricing keeps climbing.  Besides, I think POU >>>> better managed than VET, maybe the best in the patch plus they have