Yangarra Resources Ltd T.YGR

Someone is wrong re: PRQ

[fullyautomatic]

PRQ vs YGR

PRQ on a tear- good for them! BUT

PRQ Aug prod= 6.7k boe mostly gas.. Only 16% light oil

YGR Aug prod unstated but estimated at 12k. Prob above 44% liquids 

Todays EV's

PRQ= $322M Debt rising!- In fact the PRQ will actually be more than this as they have stated, they are drawing debt to drill. Used Q2 $14M

YGR= $385M Debt falling!-- In fact the YGR EV will actually be less than this as I am using the Q2 reported debt @155M

BOE difference = 5.3k boe/d say $25k (this is low on purpose) per flowing boe= 132M. Add that to YGR EV. Share price same/same with PRQ= $4.11

[Flush11]

PRQ - reorganized the company and kicked one of their debt holders in the balls. PRQ - something like 75% of the shares outstanding owned by the brothers really not a genuine market value is it?

[fullyautomatic]

Clearly not.  Although- PRQ has buying, at least lately, fairly agressive buying.. A simple comparsion would tell a rational person, something is out of whack. Don't get me wrong, I don't begrudge them at all. Perhaps one day we will catch the updraft here too

[cfliesser]

What scares me with PRQ is their production growth (i.e. decline)... They grew a lot in late 2021 and early 2022. I think they are feeling the decline now. Better graphically, but don't know how to post pics.   Avg. Production              

[WRig33JN]

Pay attention to PRQ these next few months. Growth will be substantial.

[fullyautomatic]

Rig: Nice run fer sure. Congrats..! Word of caution- take it or leave it. YGR went through the same high boe/d forecasts. Drilling same type wells in the same general area. Market doesn't like it if it doesn't come true... We have been there. My mind see this as "bird in hand with YGR--- birds? in the bush with PRQ" All the best

[WRig33JN]

Thanks @ Fullyautomatic I value your input.

[kavern23]

I think PRQ is running such an aggressive drilling rig program and 2 rigs is alot for a company their size, is they realistically need to be over 10k boe by end of 2022 if they want to run 1 rig consistantly drill program in 2023. They need that production pop and I think PRQ goes back to 1 rig and try slowly grind up boe's. PRQ really needs Jan-April 2023 gas prices to be high.  It

[cfliesser]

100% agreed kav. However I think PRQ is priced for success where YGR is priced for failure. If PRQ succeeds it will do well yes but if it fails it will drop... If YGR succeeds it will do very well, if it fails it will just be flat since this is the base case.

[WRig33JN]

PRQ was maybe 13m in dept end of Q2 plus drilling and will be exiting 2022 @11000 BOPD or better.