Kaymus Resources Q3 Results (Ending April 30, 2022)
Symbol: KYS.H
Price: $0.155
Common Shares: 23,153,285
Market Cap: $3.6M
Insider/Management Holdings: 10,369,595 or 44.8%
Kaymus currently does not have a website, but Gord, Jim and Trish can be reached at the following:
Gord Bowerman – gord@yangarra.ca or 403-262-9177
Jim Evaskevich – jim@yangarra.ca or 403-262-9558
Trish Olynyk – info@kaymus.ca or 403-262-9177
Financials
ASSETS
Cash: $31,966
Investments: $1,737,947
Royalty Income Receivable: $9,579
Goods & Services Tax Receivable: $8,803
Prepaid Expenses: $833
Deposit: $10,000
Property & Equipment: $71
Total Assets: $1,799,199
LIABILITIES
Payables: $8,041
Total Liabilities: $8,041
Nine Month Performance
Revenue: $31,197
Investment Gain: $950,734
G&A Expenses: $15,622
Depreciation: $45
Income & Comprehensive Income: $966,264
EPS: $966,264 / 23,153,285 = $0.042c
Oil & Gas reserves can be found on Sedar.
MD&A Highlights
Business of Kaymus
Kaymus is a publicly-traded company engaged in the exploration, acquisition, and development of petroleum and natural gas projects in the Western Canadian Sedimentary Basin (“WCSB”). The Company’s shares trade on the NEX, a separate trading board of the TSX Venture Exchange, under the symbol KYS.H. The Company holds a 100% working interest in two proposed oil locations producing out of the Cardium and Viking formations. The Sylvan Lake, Alberta property is located near the town of Sylvan Lake, Alberta in townships 36 and 39, Ranges 1 and 3 W5M. Kaymus currently has no wells drilled in the Sylvan Lake Area. The Company also holds overriding royalty interests ranging from 10% to 13% on five sections of land, on which are currently five producing wells which the Company acquired on January 15, 2019.
Outlook
The Company plans to accumulate prospective land in the WCSB and will execute a drilling program when capital markets allow for raising equity.
Royalty income represents overriding royalties earned following the acquisition of the overriding royalty interest and undeveloped land on January 15, 2019.
Liquidity and Capital Resources
As at April 30, 2022, the Company had working capital of $1,781,087 compared to working capital of $814,778 at July 31, 2021. The increase in working capital is a result of increase in the value of the investments.
The ability of the Company to carry out its business plan rests with the ability to generate cash flows from its overriding royalty interests, raise equity, obtain other forms of financing and sale or option of properties.
The Company will require financing to fund new exploration and development programs, new acquisitions and ongoing costs on its current properties. Future funds for exploration and development will be by financing, sale of equity capital or the offering of an interest in its properties to be earned by another party carrying out further exploration or development. The Company proposes to meet financing requirements through equity financing.