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Wednesday, December 21, 2016 1:36:23 PM
https://www.corridor.ca/wp-content/uploads/2014/05/Corporate-Presentation-December-2016.pdf well worth reading
Talked with Questerre QUE.to and Corridor has new presentation today, Fracking legal with Bill 106
Questerre told me he thinks they will be fracking on Utica in Quebec in 2018. The bill legalized it and passed by big margin. He said the regulations will have to be created, but that things look good.
Corridor has no commented on Bill 106 yet. They have even more to gain. Corridor (CDH) has near 200 kilometer long Anticosti Island and they figure it has about same oil resources as the Utica in Ohio
Anticosti Macasty versus Ohio Utica shale
• Anticosti Island is large enough to cover the productive Utica shale trend. • Similar to Ohio, Anticosti is in thermal window for oil, liquid rich gas and dry gas • Oil window is < 1.1 Ro, liquid-rich gas is between 1.1 and 1.4 and dry gas is > 1.4 • Pay thickness, total organic carbon, and clay content are similar in Anticosti and Ohio • Both contain light oil and NGL’s •
Recent production from Ohio Horizontal Wells*: ? 1493 producing wells ?
4.24 Bcf/d ?
46,518 bbls/d of oil
The IR guy is gone for Christmas at Corridor, so talked with QUE as both in same boat.
Corridor already has special permits to do three wells with fracking on Anticosti which will finish in 2017.
Corridor has so much cash ($30 million working capital) the Enterprise value is only $15 million. They are looking at buying things in western Canada with all their cash.
Today they also PRed they have hedged their gas a fair amount.
Cheers
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