Prairie Provident Resources Inc T.PPR

PPR hedges causing poor performance

[filefish]

No wonder why PPR cant make any progress even at $60WTI. The person in charge of risk management should be fired. The poor hedging has limited most of the upside on oil for shareholders thru 2022.

And what kind of deal is this to start 2023? 
Subsequent to March 31, 2021, the Company entered into the following commodity derivative contracts:
Crude Oil Collars January 1, 2023 - March 31, 2023 US$ WTI 1,100 $35.00 / $40.00/ $50.00

[Justhalffull]

The two real bad hedges (47.60 and 52.25) are for just 1000 bbls or so and expire June 30. The next hedge is a three way collar at 40.00 b 50.00 b 64.25 on 650 bbls till end of 2021. On July 1 2 additional 2 additional 3 way collars kick in at 40 / 50 / 55 on 300 bbls and 35 / 42.50 / 62.10 on 725 bbls.  The rest of our 4000 day will fetch market prices so long as they don't put on any