Yangarra Resources Ltd T.YGR

Depressing....

[kavern23]

This announcement isnt good for the junior market in Alberta. Good lord asset prices are so cheap.
This is biggest killer that is harming valuations. The fact this new company may start in Cardium I guess is good long term as they look to want to consolidate.

Isnt much details...south ferrier...on who the senior is that sold the assets?

Tourmaline is my guess sellig...probably non core stuff they got from Bonavista.

Not too sure how far away this is from YGR stufff...

Called Fiddlehead:

https://boereport.com/2024/05/29/fiddlehead-announces-transformational-acquisition-of-producing-south-ferrier-strachan-assets-25-million-in-financings-and-public-listing-of-its-securities/

[kavern23]

Going to be more asset sales rolling. NG was too high in 2022 and 2023 to see much action and agreement. IPO, Petrus, YGR, Entrada...one of these companies will have done some kind of move by 2025. I cant see everything just being status quo like it has been

[Helloworld]

Seems like an interesting endeavor.  A public company producing 150 barrels/d oil with 5 executives. Struggle to see how they can even break even at current pricing.  Will be interesting to see what sort of market cap valuation it gets. Who knows, maybe pass Yangarra in a few months. 

[kavern23]

The fact it is quite hard to figure out which senior producer sold these assets to fiddlehead resources shows just fragmented and too many operators are in the cardium of central Alberta. reason I take back tourmaline is tou would have glaucy and not cardium wells and this tou is not really south Ferrier or strachan. Strachan is basically east of Ferrier. I think it is Canadian natural

[kavern23]

The play for cnq in this deal could be they have a gas plant there they get to keep and can make processing fees as fiddlehead increases production or fiddlehead buys in later. Lots in that part of Ferrier that can be consolidated, cenovus few sections, orlens, and whitecaps. I can see whitecap wanting keep cardium just from garrington and down to Caroline and wcp putting Ferrier stuff for sale