“It’s greed.”Under the sale agreement that J.C. Penney has been rushing to close in recent weeks, bankruptcy lenders would forgive a large slice of debt in exchange for the retailer’s assets. “A return to extensive travel (planes, cruise, hotels) is several years away, while we believe that the attractiveness of the RV lifestyle is here to stay,” wrote analyst Shawn Collins. POLAR STAR ACQUISITION Tourmaline acquired Polar Star Canadian Oil and Gas Inc. ("Polar Star") on February 14, 2020 for total cash consideration of … Tourmaline added the 251 mmboe of 2P reserves in 2019 even though 66.8% of the 2019 drilling locations were converting previously-booked locations.
It does not consider the corporate tax situation, or tax planning. Without limitation of the foregoing, future dividend payments, if any, and the level thereof is uncertain, as the Company's dividend policy and the funds available for the payment of dividends from time to time is dependent upon, among other things, free cash flow, financial requirements for the Company's operations and the execution of its growth strategy, fluctuations in working capital and the timing and amount of capital expenditures, debt service requirements and other factors beyond the Company's control. The Company’s financial statements and management’s discussion and analysis should be consulted for information at the Company level. (To watch Schappel’s track record, click here)This is another stock with a unanimous Strong Buy analyst consensus rating, this time based on 3 recent reviews. During this period of uncertainty, the Company is committed to maintaining its strong balance sheet and financial liquidity. Such metrics have been included in this document to provide readers with additional measures to evaluate the Company's performance; however, such measures are not reliable indicators of the Company's future performance and future performance may not compare to the Company's performance in previous periods and therefore such metrics should not be unduly relied upon. http://www.newswire.ca/en/releases/archive/May2020/06/c2595.html, Jack Ma Becomes Richer Than Walmart Heirs With Mega Ant IPO, China's NEV sales to account for 50% of all new sales by 2035, industry body says, Tencent Surges After U.S. Court Upholds Stay on WeChat Ban, Verizon Media CEO on the future of the media industry, LNG trade estimated to grow 3.4% from 2019 to 2040 - Cheniere exec, JPMorgan Sees S&P at 3,900 If Trump Wins Election: Taking Stock, IRS Boosts 2021 Income Limits For IRA Deductions, Buying Tesla Stock? assets contain around 2,500 boepd of production and 80.7 million standard cubic feet per day of 2P reserves. In light of our expectation for positive adjusted EBITDA early in fiscal 2022 and a much-improved balance sheet, we continue to base our valuation on a 5x on expected revenues out to 2022.” Hickman wrote.To this end, Hickman rates LIVX shares a Buy, and his $6.50 price target implies a whopping 222% upside for the coming year. "Net debt" is defined as bank debt plus working capital (adjusted for the fair value of financial instruments and lease liabilities). One estimate from JPMorgan Chase & Co.’s chief equity strategist puts U.S. stocks in for a double-digit advance if Donald Trump keeps his office.A victory for the Republican candidate could push the S&P 500 to as high as 3,900 at year-end under the most optimistic case laid out by Dubravko Lakos-Bujas, the bank’s chief U.S. equity strategist.
Tourmaline drilled one of the first pads in Western Canada utilizing high line power in the Peace River High complex. Tourmaline also intends to sell a gross overriding royalty (GORR) to Topaz Energy on the purchased lands, same as the GORR value of the present-day Tourmaline Gundy property, for around $22.5 million.
25% of consumers shopped at Overstock before the pandemic and continue to do so, 10% came on board in Q2 and have subsequently made more purchases, while another 4% first shopped in Q3 “with plans to repeat.”“We believe this points to a growing base of new customers,” Patel summarized, “With a significant portion planning to repeat.”Overall, there’s no change to Patel’s rating which stays a Buy, although the price target is nudged from $96 to $98 and suggests possible upside of 38% from current levels. Management uses the term "free cash flow", "cash flow", "net debt" and "net capital expenditures" for its own performance measures and to provide shareholders and potential investors with a measurement of the Company's efficiency and its ability to generate the cash necessary to fund a portion of its future growth expenditures, to pay dividends or to repay debt. Further, in the case of years subsequent to 2020, such estimates are provided for illustration only and are based on budgets and forecasts that have not been finalized and are subject to a variety of additional contingencies including prior years’ results. Tourmaline now operates 15 natural gas fuel substitution units allowing for the displacement of 9.8 million litres of diesel per year. The Company's actual production, revenues, taxes and development and operating expenditures with respect to its reserves will vary from estimates thereof and such variations could be material. Annaly Capital Management (NLY)The first name on the list from JMP is Annaly Capital Management. Also included in this news release are estimates of Tourmaline's 2020 exit net debt-to-cash flow ratio as well as 2020 and 2021 free cash flow, which are based on, among other things, the various assumptions as to production levels, capital expenditures, annual cash flows and other assumptions disclosed in this news release and including Tourmaline's estimated average production of 305,000 – 310,000 boepd for 2020 and 320,000 for 2021. It does not consider the Company’s tax situation, or tax planning.
See "Non-GAAP Financial Measures" in this news release and the Company's Q1 2020 Management's Discussion and Analysis. Since peaking at an all-time high of $122.32 in mid-August, shares of Overstock (OSTK) have retreated by more than 40%. Reduce corporate emissions intensity by 25% by 2027 (scope 1) using 2018 as a baseline, by continuing to focus on overall efficiencies with the application of new, innovative technologies including the electrification of assets, when feasible. Cash general and administrative expenses ($/boe)(2), FINANCIAL ($000, except share and per share), Total revenue from commodity salesand realized gains, Capital expenditures (net of dispositions), Weighted average shares outstanding (diluted). Sands dropped out of the competition to build a casino in Japan earlier this year due to terms executives described as unfavorable. It does not provide an estimate of the value at the Company level, which may be significantly different. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. Rimini Street is a leader in third-party software support, offering customers support for some of the big names in business software.While Rimini offers an essential product, the company’s EPS is notoriously low despite strong revenue numbers. Covid-19 has devastated the casino industry, as it has other businesses where people gather in large numbers, like movie theaters, concerts and restaurants. Q1 2020 production averaged a record 308,349 boepd, a 5% increase over Q1 2019 (1,475 mmcfpd natural gas and 62,569 bpd oil, condensate, NGLs). Major Environmental Performance Achievements. These include, but are not limited to: the risks associated with the oil and natural gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to reserves, production, revenues, costs and expenses; health, safety and environmental risks; commodity price and exchange rate fluctuations; interest rate fluctuations; marketing and transportation; loss of markets; environmental risks; competition; incorrect assessment of the value of acquisitions; failure to complete or realize the anticipated benefits of acquisitions or dispositions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals; and changes in legislation, including but not limited to tax laws, royalties and environmental regulations. Tourmaline drilled a total of 39.7 net wells during the first quarter. The after-tax net present value of the Company’s oil and gas properties reflects the tax burden on the properties on a stand-alone basis. Accordingly, NGLs in this disclosure exclude condensate. “60 Minutes” finally aired the interview that Donald Trump cut short on Sunday night. All rights reserved. The forward-looking information is based on certain key expectations and assumptions made by Tourmaline, including expectations and assumptions concerning the following: prevailing and future commodity prices and currency exchange rates including in the case of 2020 production estimates, commodity price assumptions for natural gas (NYMEX (US) - $2.15 /mcf and $2.71 /mcf for 2020 and 2021, respectively, AECO - $2.24 /mcf and $2.62 /mcf for 2020 and 2021, respectively), and crude oil (WTI (US) - $31.04 /bbl and $32.29 for 2020 and 2021, respectively) and an exchange rate assumption of $0.72 and 0.71 (US/CAD) for 2020 and 2021, respectively; the degree to which Tourmaline's operations and production will be disrupted by circumstances attributable to the COVID-19 pandemic and the responses of governments and the public to the pandemic; applicable royalty rates and tax laws; interest rates; future well production rates and reserve volumes; operating costs, the timing of receipt of regulatory approvals; the performance of existing wells; the success obtained in drilling new wells; anticipated timing and results of capital expenditures; the sufficiency of budgeted capital expenditures in carrying out planned activities; the timing, location and extent of future drilling operations; the benefits to be derived from acquisitions; the state of the economy and the exploration and production business including the impacts of the COVID-19 pandemic and the responses of governments and the public to the pandemic thereon; the availability and cost of financing, labour and services; and ability to market crude oil, natural gas and NGL successfully.
“It’s greed.”Under the sale agreement that J.C. Penney has been rushing to close in recent weeks, bankruptcy lenders would forgive a large slice of debt in exchange for the retailer’s assets. “A return to extensive travel (planes, cruise, hotels) is several years away, while we believe that the attractiveness of the RV lifestyle is here to stay,” wrote analyst Shawn Collins. POLAR STAR ACQUISITION Tourmaline acquired Polar Star Canadian Oil and Gas Inc. ("Polar Star") on February 14, 2020 for total cash consideration of … Tourmaline added the 251 mmboe of 2P reserves in 2019 even though 66.8% of the 2019 drilling locations were converting previously-booked locations.
It does not consider the corporate tax situation, or tax planning. Without limitation of the foregoing, future dividend payments, if any, and the level thereof is uncertain, as the Company's dividend policy and the funds available for the payment of dividends from time to time is dependent upon, among other things, free cash flow, financial requirements for the Company's operations and the execution of its growth strategy, fluctuations in working capital and the timing and amount of capital expenditures, debt service requirements and other factors beyond the Company's control. The Company’s financial statements and management’s discussion and analysis should be consulted for information at the Company level. (To watch Schappel’s track record, click here)This is another stock with a unanimous Strong Buy analyst consensus rating, this time based on 3 recent reviews. During this period of uncertainty, the Company is committed to maintaining its strong balance sheet and financial liquidity. Such metrics have been included in this document to provide readers with additional measures to evaluate the Company's performance; however, such measures are not reliable indicators of the Company's future performance and future performance may not compare to the Company's performance in previous periods and therefore such metrics should not be unduly relied upon. http://www.newswire.ca/en/releases/archive/May2020/06/c2595.html, Jack Ma Becomes Richer Than Walmart Heirs With Mega Ant IPO, China's NEV sales to account for 50% of all new sales by 2035, industry body says, Tencent Surges After U.S. Court Upholds Stay on WeChat Ban, Verizon Media CEO on the future of the media industry, LNG trade estimated to grow 3.4% from 2019 to 2040 - Cheniere exec, JPMorgan Sees S&P at 3,900 If Trump Wins Election: Taking Stock, IRS Boosts 2021 Income Limits For IRA Deductions, Buying Tesla Stock? assets contain around 2,500 boepd of production and 80.7 million standard cubic feet per day of 2P reserves. In light of our expectation for positive adjusted EBITDA early in fiscal 2022 and a much-improved balance sheet, we continue to base our valuation on a 5x on expected revenues out to 2022.” Hickman wrote.To this end, Hickman rates LIVX shares a Buy, and his $6.50 price target implies a whopping 222% upside for the coming year. "Net debt" is defined as bank debt plus working capital (adjusted for the fair value of financial instruments and lease liabilities). One estimate from JPMorgan Chase & Co.’s chief equity strategist puts U.S. stocks in for a double-digit advance if Donald Trump keeps his office.A victory for the Republican candidate could push the S&P 500 to as high as 3,900 at year-end under the most optimistic case laid out by Dubravko Lakos-Bujas, the bank’s chief U.S. equity strategist.
Tourmaline drilled one of the first pads in Western Canada utilizing high line power in the Peace River High complex. Tourmaline also intends to sell a gross overriding royalty (GORR) to Topaz Energy on the purchased lands, same as the GORR value of the present-day Tourmaline Gundy property, for around $22.5 million.
25% of consumers shopped at Overstock before the pandemic and continue to do so, 10% came on board in Q2 and have subsequently made more purchases, while another 4% first shopped in Q3 “with plans to repeat.”“We believe this points to a growing base of new customers,” Patel summarized, “With a significant portion planning to repeat.”Overall, there’s no change to Patel’s rating which stays a Buy, although the price target is nudged from $96 to $98 and suggests possible upside of 38% from current levels. Management uses the term "free cash flow", "cash flow", "net debt" and "net capital expenditures" for its own performance measures and to provide shareholders and potential investors with a measurement of the Company's efficiency and its ability to generate the cash necessary to fund a portion of its future growth expenditures, to pay dividends or to repay debt. Further, in the case of years subsequent to 2020, such estimates are provided for illustration only and are based on budgets and forecasts that have not been finalized and are subject to a variety of additional contingencies including prior years’ results. Tourmaline now operates 15 natural gas fuel substitution units allowing for the displacement of 9.8 million litres of diesel per year. The Company's actual production, revenues, taxes and development and operating expenditures with respect to its reserves will vary from estimates thereof and such variations could be material. Annaly Capital Management (NLY)The first name on the list from JMP is Annaly Capital Management. Also included in this news release are estimates of Tourmaline's 2020 exit net debt-to-cash flow ratio as well as 2020 and 2021 free cash flow, which are based on, among other things, the various assumptions as to production levels, capital expenditures, annual cash flows and other assumptions disclosed in this news release and including Tourmaline's estimated average production of 305,000 – 310,000 boepd for 2020 and 320,000 for 2021. It does not consider the Company’s tax situation, or tax planning.
See "Non-GAAP Financial Measures" in this news release and the Company's Q1 2020 Management's Discussion and Analysis. Since peaking at an all-time high of $122.32 in mid-August, shares of Overstock (OSTK) have retreated by more than 40%. Reduce corporate emissions intensity by 25% by 2027 (scope 1) using 2018 as a baseline, by continuing to focus on overall efficiencies with the application of new, innovative technologies including the electrification of assets, when feasible. Cash general and administrative expenses ($/boe)(2), FINANCIAL ($000, except share and per share), Total revenue from commodity salesand realized gains, Capital expenditures (net of dispositions), Weighted average shares outstanding (diluted). Sands dropped out of the competition to build a casino in Japan earlier this year due to terms executives described as unfavorable. It does not provide an estimate of the value at the Company level, which may be significantly different. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. Rimini Street is a leader in third-party software support, offering customers support for some of the big names in business software.While Rimini offers an essential product, the company’s EPS is notoriously low despite strong revenue numbers. Covid-19 has devastated the casino industry, as it has other businesses where people gather in large numbers, like movie theaters, concerts and restaurants. Q1 2020 production averaged a record 308,349 boepd, a 5% increase over Q1 2019 (1,475 mmcfpd natural gas and 62,569 bpd oil, condensate, NGLs). Major Environmental Performance Achievements. These include, but are not limited to: the risks associated with the oil and natural gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to reserves, production, revenues, costs and expenses; health, safety and environmental risks; commodity price and exchange rate fluctuations; interest rate fluctuations; marketing and transportation; loss of markets; environmental risks; competition; incorrect assessment of the value of acquisitions; failure to complete or realize the anticipated benefits of acquisitions or dispositions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals; and changes in legislation, including but not limited to tax laws, royalties and environmental regulations. Tourmaline drilled a total of 39.7 net wells during the first quarter. The after-tax net present value of the Company’s oil and gas properties reflects the tax burden on the properties on a stand-alone basis. Accordingly, NGLs in this disclosure exclude condensate. “60 Minutes” finally aired the interview that Donald Trump cut short on Sunday night. All rights reserved. The forward-looking information is based on certain key expectations and assumptions made by Tourmaline, including expectations and assumptions concerning the following: prevailing and future commodity prices and currency exchange rates including in the case of 2020 production estimates, commodity price assumptions for natural gas (NYMEX (US) - $2.15 /mcf and $2.71 /mcf for 2020 and 2021, respectively, AECO - $2.24 /mcf and $2.62 /mcf for 2020 and 2021, respectively), and crude oil (WTI (US) - $31.04 /bbl and $32.29 for 2020 and 2021, respectively) and an exchange rate assumption of $0.72 and 0.71 (US/CAD) for 2020 and 2021, respectively; the degree to which Tourmaline's operations and production will be disrupted by circumstances attributable to the COVID-19 pandemic and the responses of governments and the public to the pandemic; applicable royalty rates and tax laws; interest rates; future well production rates and reserve volumes; operating costs, the timing of receipt of regulatory approvals; the performance of existing wells; the success obtained in drilling new wells; anticipated timing and results of capital expenditures; the sufficiency of budgeted capital expenditures in carrying out planned activities; the timing, location and extent of future drilling operations; the benefits to be derived from acquisitions; the state of the economy and the exploration and production business including the impacts of the COVID-19 pandemic and the responses of governments and the public to the pandemic thereon; the availability and cost of financing, labour and services; and ability to market crude oil, natural gas and NGL successfully.
Continued improvement in drill-and-complete capital costs resulted in a significant reduction in FDC in the 2019 report. Write CSS OR LESS and hit save. The Internal Revenue Service announced new changes to eligibility for traditional IRA deductions in 2021. Tajammul Pangarkar is a tech blogger, and has contributed to numerous tech magazines. The company has felt a serious hurt from the ongoing corona crisis, and reported a net loss of 25 cents per share for the calendar second quarter this year. This news release includes references to "free cash flow", "cash flow", "net debt" and "net capital expenditures" which are financial measures commonly used in the oil and gas industry and do not have a standardized meaning prescribed by International Financial Reporting Standards ("GAAP"). Current Q4 2020 average production estimates are 310,000 – 315,000 boepd with a 2020 anticipated exit of 315,000 – 320,000 boepd. Investors are cautioned that these non-GAAP financial measures should not be construed as an alternative to net income or cash from operating activities determined in accordance with GAAP as an indication of the Company's performance. Shares down 14% from a peak hit earlier this month, but “this issue will ultimately have limited business impact to the company,” wrote analyst Glenn Schorr.
“It’s greed.”Under the sale agreement that J.C. Penney has been rushing to close in recent weeks, bankruptcy lenders would forgive a large slice of debt in exchange for the retailer’s assets. “A return to extensive travel (planes, cruise, hotels) is several years away, while we believe that the attractiveness of the RV lifestyle is here to stay,” wrote analyst Shawn Collins. POLAR STAR ACQUISITION Tourmaline acquired Polar Star Canadian Oil and Gas Inc. ("Polar Star") on February 14, 2020 for total cash consideration of … Tourmaline added the 251 mmboe of 2P reserves in 2019 even though 66.8% of the 2019 drilling locations were converting previously-booked locations.
It does not consider the corporate tax situation, or tax planning. Without limitation of the foregoing, future dividend payments, if any, and the level thereof is uncertain, as the Company's dividend policy and the funds available for the payment of dividends from time to time is dependent upon, among other things, free cash flow, financial requirements for the Company's operations and the execution of its growth strategy, fluctuations in working capital and the timing and amount of capital expenditures, debt service requirements and other factors beyond the Company's control. The Company’s financial statements and management’s discussion and analysis should be consulted for information at the Company level. (To watch Schappel’s track record, click here)This is another stock with a unanimous Strong Buy analyst consensus rating, this time based on 3 recent reviews. During this period of uncertainty, the Company is committed to maintaining its strong balance sheet and financial liquidity. Such metrics have been included in this document to provide readers with additional measures to evaluate the Company's performance; however, such measures are not reliable indicators of the Company's future performance and future performance may not compare to the Company's performance in previous periods and therefore such metrics should not be unduly relied upon. http://www.newswire.ca/en/releases/archive/May2020/06/c2595.html, Jack Ma Becomes Richer Than Walmart Heirs With Mega Ant IPO, China's NEV sales to account for 50% of all new sales by 2035, industry body says, Tencent Surges After U.S. Court Upholds Stay on WeChat Ban, Verizon Media CEO on the future of the media industry, LNG trade estimated to grow 3.4% from 2019 to 2040 - Cheniere exec, JPMorgan Sees S&P at 3,900 If Trump Wins Election: Taking Stock, IRS Boosts 2021 Income Limits For IRA Deductions, Buying Tesla Stock? assets contain around 2,500 boepd of production and 80.7 million standard cubic feet per day of 2P reserves. In light of our expectation for positive adjusted EBITDA early in fiscal 2022 and a much-improved balance sheet, we continue to base our valuation on a 5x on expected revenues out to 2022.” Hickman wrote.To this end, Hickman rates LIVX shares a Buy, and his $6.50 price target implies a whopping 222% upside for the coming year. "Net debt" is defined as bank debt plus working capital (adjusted for the fair value of financial instruments and lease liabilities). One estimate from JPMorgan Chase & Co.’s chief equity strategist puts U.S. stocks in for a double-digit advance if Donald Trump keeps his office.A victory for the Republican candidate could push the S&P 500 to as high as 3,900 at year-end under the most optimistic case laid out by Dubravko Lakos-Bujas, the bank’s chief U.S. equity strategist.
Tourmaline drilled one of the first pads in Western Canada utilizing high line power in the Peace River High complex. Tourmaline also intends to sell a gross overriding royalty (GORR) to Topaz Energy on the purchased lands, same as the GORR value of the present-day Tourmaline Gundy property, for around $22.5 million.
25% of consumers shopped at Overstock before the pandemic and continue to do so, 10% came on board in Q2 and have subsequently made more purchases, while another 4% first shopped in Q3 “with plans to repeat.”“We believe this points to a growing base of new customers,” Patel summarized, “With a significant portion planning to repeat.”Overall, there’s no change to Patel’s rating which stays a Buy, although the price target is nudged from $96 to $98 and suggests possible upside of 38% from current levels. Management uses the term "free cash flow", "cash flow", "net debt" and "net capital expenditures" for its own performance measures and to provide shareholders and potential investors with a measurement of the Company's efficiency and its ability to generate the cash necessary to fund a portion of its future growth expenditures, to pay dividends or to repay debt. Further, in the case of years subsequent to 2020, such estimates are provided for illustration only and are based on budgets and forecasts that have not been finalized and are subject to a variety of additional contingencies including prior years’ results. Tourmaline now operates 15 natural gas fuel substitution units allowing for the displacement of 9.8 million litres of diesel per year. The Company's actual production, revenues, taxes and development and operating expenditures with respect to its reserves will vary from estimates thereof and such variations could be material. Annaly Capital Management (NLY)The first name on the list from JMP is Annaly Capital Management. Also included in this news release are estimates of Tourmaline's 2020 exit net debt-to-cash flow ratio as well as 2020 and 2021 free cash flow, which are based on, among other things, the various assumptions as to production levels, capital expenditures, annual cash flows and other assumptions disclosed in this news release and including Tourmaline's estimated average production of 305,000 – 310,000 boepd for 2020 and 320,000 for 2021. It does not consider the Company’s tax situation, or tax planning.
See "Non-GAAP Financial Measures" in this news release and the Company's Q1 2020 Management's Discussion and Analysis. Since peaking at an all-time high of $122.32 in mid-August, shares of Overstock (OSTK) have retreated by more than 40%. Reduce corporate emissions intensity by 25% by 2027 (scope 1) using 2018 as a baseline, by continuing to focus on overall efficiencies with the application of new, innovative technologies including the electrification of assets, when feasible. Cash general and administrative expenses ($/boe)(2), FINANCIAL ($000, except share and per share), Total revenue from commodity salesand realized gains, Capital expenditures (net of dispositions), Weighted average shares outstanding (diluted). Sands dropped out of the competition to build a casino in Japan earlier this year due to terms executives described as unfavorable. It does not provide an estimate of the value at the Company level, which may be significantly different. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. Rimini Street is a leader in third-party software support, offering customers support for some of the big names in business software.While Rimini offers an essential product, the company’s EPS is notoriously low despite strong revenue numbers. Covid-19 has devastated the casino industry, as it has other businesses where people gather in large numbers, like movie theaters, concerts and restaurants. Q1 2020 production averaged a record 308,349 boepd, a 5% increase over Q1 2019 (1,475 mmcfpd natural gas and 62,569 bpd oil, condensate, NGLs). Major Environmental Performance Achievements. These include, but are not limited to: the risks associated with the oil and natural gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to reserves, production, revenues, costs and expenses; health, safety and environmental risks; commodity price and exchange rate fluctuations; interest rate fluctuations; marketing and transportation; loss of markets; environmental risks; competition; incorrect assessment of the value of acquisitions; failure to complete or realize the anticipated benefits of acquisitions or dispositions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals; and changes in legislation, including but not limited to tax laws, royalties and environmental regulations. Tourmaline drilled a total of 39.7 net wells during the first quarter. The after-tax net present value of the Company’s oil and gas properties reflects the tax burden on the properties on a stand-alone basis. Accordingly, NGLs in this disclosure exclude condensate. “60 Minutes” finally aired the interview that Donald Trump cut short on Sunday night. All rights reserved. The forward-looking information is based on certain key expectations and assumptions made by Tourmaline, including expectations and assumptions concerning the following: prevailing and future commodity prices and currency exchange rates including in the case of 2020 production estimates, commodity price assumptions for natural gas (NYMEX (US) - $2.15 /mcf and $2.71 /mcf for 2020 and 2021, respectively, AECO - $2.24 /mcf and $2.62 /mcf for 2020 and 2021, respectively), and crude oil (WTI (US) - $31.04 /bbl and $32.29 for 2020 and 2021, respectively) and an exchange rate assumption of $0.72 and 0.71 (US/CAD) for 2020 and 2021, respectively; the degree to which Tourmaline's operations and production will be disrupted by circumstances attributable to the COVID-19 pandemic and the responses of governments and the public to the pandemic; applicable royalty rates and tax laws; interest rates; future well production rates and reserve volumes; operating costs, the timing of receipt of regulatory approvals; the performance of existing wells; the success obtained in drilling new wells; anticipated timing and results of capital expenditures; the sufficiency of budgeted capital expenditures in carrying out planned activities; the timing, location and extent of future drilling operations; the benefits to be derived from acquisitions; the state of the economy and the exploration and production business including the impacts of the COVID-19 pandemic and the responses of governments and the public to the pandemic thereon; the availability and cost of financing, labour and services; and ability to market crude oil, natural gas and NGL successfully.
