Canadian Spirit Resources Inc. (SPI) has posted an updated Corporate Presentation to their website titled "Moving Montney Resources to Reserves in British Columbia" (click here to view the presentation).
Highlights include:
1. SPI now holds 34.4 net Montney sections
2. First production and gas plant on stream by the end of January
3. $21.1M working capital
4. "Game Changing" results demonstrate the ability of the lower Montney to add to the total productivity and reserve potential
5. Reserve Report expected by the end of March
6. Summary of recent Montney transactions including the Talisman/Sasol deal, Monterey Exploration and Storm Energy demonstrate similar transaction metrics. SPI states that their potential Montney value is $10.20/share unrisked based upon the Talisman/Sasol deal and implies "significant upside".
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