One key data set when evaluating target accounts is cash position Leucrotta is a JR operating in BC with low dept and good cash.
Leucrotta closed the previously announced land acquisitions and an $80 million bought deal financing. At the end of Q2 2017, Leucrotta currently had approximately $43.8 million of positive working capital, no debt, and a $20 million undrawn bank credit facility. Leucrotta plans to drill 2 wells prior to the end of Q3 2017 with one well placed into the gas-condensate window of the Lower Montney and one well placed into the light oil window of the Lower Montney. Leucrotta is also extending its gathering system such that the new wells and previously drilled wells at 8-4 and 12-06 will be placed on production by the end of 2017.
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