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CALGARY, Alberta, Jan. 08, 2021 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) today announced Chief Operating Officer (“COO”) Tim de Freitas has left the Company effective immediately to pursue other endeavours.

“On behalf of Pieridae Energy Limited, I would like to thank Tim for his past contributions, particularly during the purchase of the Shell assets in the fall of 2019, and we wish him well in the future,” said Pieridae CEO Alfred Sorensen.

Sorensen will assume COO responsibilities on an interim basis … Continue Reading

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DISSEMINATION IN UNITED STATES

Strong Financial Growth Anticipated
Pre- and Post-FID Investments Approved for Goldboro LNG

Highlights:

Net operating income (“NOI”)1 growth to $100-$130 million

Adjusted Funds Flow From Operations (“AFFO”)1 increase to $80-$110 million

Adjusted operating expenses1 of $9.50-10.50/boe

Production of 40,000-45,000 boe/d

$45-55 million upstream capital budget

$10-$15 million pre-FID Goldboro LNG development expense budget, and post-FID Goldboro LNG capital expenditure budget of $250-$350 million2

Commodities hedging of 55-65% on an 18-month rolling boe/d basis

Corporate and upstream general and administrative (“G&A”) costs of $0.90 to $1.00 per

… Continue Reading

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DISSEMINATION IN UNITED STATES

Highlights:

Revenue (net of royalties) of $54.6 million in Q3 2020, an increase of $41.4 million or 315% compared to Q3 2019

Net operating income1 (“NOI”) increased by $2.1 million or 76% compared to Q3 2019

Adjusted Funds Flow From Operations1 (“AFFO”) increased by $0.9 million or 13% compared to Q3 2019

Q3 2020 average production was 38,209 barrels of oil equivalent per day (“boe/day”), an increase of 23,552 boe/day or 161% compared to Q3 2019

Completed deferred maintenance to ensure the continued, safe and reliable

… Continue Reading

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES

CALGARY, Alberta, Nov. 03, 2020 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) will release its third-quarter 2020 results on Friday, November 13, 2020 prior to markets opening.

Chief Executive Officer Alfred Sorensen, Chief Financial Officer Rob Dargewitcz and other members of the Pieridae leadership team will discuss the financial results and Company developments at 8 a.m. (MST) / 10 a.m. (EST).

Members of the investment community, shareholders and other interested parties are invited to participate by calling toll-free: 1-888-231-8191, Calgary 403-451-9838, or … Continue Reading