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Traverse Energy Ltd is a Canada-based company. The Company is engaged in oil and gas exploration, development and production activities. It conducts its operations in the province of Alberta. The Company’s assets are located in the Carbon, Turin and Greater Coyote areas of Alberta as well as in the Duvernay land base located in the Buffalo Lake, Chigwell and Pigeon Lake areas of Alberta. The... see more

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Traverse Energy Ltd > JOY's first Duvernay results, TVL's Duvernay and Kenney

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Post by stockfy on Apr 17, 2019 6:47am

JOY's first Duvernay results, TVL's Duvernay and Kenney

That's great timing. Both news. We needed them now while TVL is looking for a Duvernay deal, outright sale or farmout.

First Journey (JOY) yesterday released strong results from its first Duvernay wells and rose 30%. Traverse (TVL) has Duvernay acreage (100,000 net acres) that is adjacent to JOY's Duvernay acreage. See TVL's presentation.

Actually, TVL has more than double Duvernay aceage than JOY because JOY owns just 40,000 net acres.

TVL is working on a Duvernay deal with it after hiring an advisor according to the latest news. TVL's enterprise value currently is just C$11 million while the value for its Duvernay acreage alone is above C$50 million. For those who missed it....So TVL can triple and quadruple overnight....

Second Kenney's victory in Alberta does help a lot too. His pro-energy and pro-business approach will help TVL find a buyer for an outright sale or make a farmout for its Duvernay acreage. The buyer who plans for the next 4-5 years takes this key event into account very seriously.

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