| Why should I consider an Investment in Pennant Energy Inc?
Pennant Energy Inc. TSX-V- PEN, is a junior oil and gas exploration and production company. With cash flow from multiple wells located throughout Alberta and Manitoba and the dynamic Bigstone Montney Mulit-stage horizontal Drilling and Fracturing project underway the Company is well positioned for potential growth. Pennant's key asset is its Bigstone Project whereby the Company has used recently developed technology, Mulit-stage horizontal Drilling and Fracturing, to re-enter a previously drilled reservoir called the Montney Formation. Our Bigstone Project is comprised of 7 sections of contiguous land that has been drilled into 4 times, many years ago, which discovered oil and gas. Unfortunately for the companies that drilled those wells, the oil and gas would not flow up to the surface and the wells were all abandoned.
The Montney formation here has porosity and hosts large reservoirs of oil and gas but extremely poor permeability so when the wells were drilled in the past the companies could not get the wells to flow. As these wells have already been drilled and show oil and gas a lot of the risk has been removed. It is not a matter of "lets drill and see if we find oil and gas" but rather, lets use new technology to bring a reservoir that someone else already discovered for us, and put it into production. Success on the first well sets the stage to drill up to 27 more on the 7 sections of Pennants contiguous land package. With only 41 million shares outstanding success at our Bigstone project could impact the balance sheet and share price dramatically.
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