Coelacanth Energy Inc. (TSXV: CEI) closed bought-deal public financing in Q4 2023 raising gross proceeds of $80 million. With $67.6 million cash in hand, the company is posited to build the infrastructure to increase its production level. Rob Zakresky, President & CEO and Director of the company, joined us again at our CEO Interview , to update us on the project in Montney , and elaborate on his plans for the next 12 months.
About Coelacanth Energy Inc. (TSXV: CEI)
Coelacanth Energy Inc. (TSXV: CEI) is a pure play Montney light oil and gas growth company with a proven management team. CEI lands are situated in the Two Rivers region of NEBC in the Montney light oil window. The lands are contiguous with multiple Montney zones that yield a high value commodity mix of light oil, natural gas and ngls. The Company has delineated its land base, completed several successful test wells, and will ramp up production once critical infrastructure is complete. Both egress and processing have been secured. With $67 million in working capital (YE23), and zero debt, CEI is structured to grow from current production of 932 boepd to 15,000 boepd and beyond within the next 3 years. For more information, please visit the website.
CEO Interview series is a program where we invite CEOs or senior executives of public companies with great growth potential. We will present investing ideas across different sectors, which helps investors to gain quicker and easier access to the most recent developments of these companies.
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