Announcement • Dec 19
Cygnet Energy Ltd. completed the acquisition of Kiwetinohk Energy Corp. (TSX:KEC) from ARC Financial Corp., Luminus Energy IE Designated Activity Company and others. Cygnet Energy Ltd. agreed to acquire Kiwetinohk Energy Corp. (TSX:KEC) from ARC Financial Corp., Luminus Energy IE Designated Activity Company and others for CAD 1.1 billion on October 28, 2025. A cash consideration valued at CAD 24.75 per share will be paid by Cygnet Energy Ltd. The transaction will be financed from debt and equity financings. As per the transaction, ARC Financial Corp. will exchange its 6.06 million shares held in Kiwetinohk Energy Corp. with the shares of Cygnet Energy Ltd.
The transaction is subject to approval by regulatory board / committee, antitrust approval, approval of offer by target shareholders and subject to court approval. The Board of Directors of Kiwetinohk Energy Corp. formed a special committee for the transaction. The deal has been unanimously approved by the board of directors of Kiwetinohk Energy Corp. The transaction is expected to close in late December 2025. As of December 16, 2025, the transaction has been approved by the shareholders of Kiwetinohk Energy Corp. The transaction is anticipated to be completed on December 18, 2025. The Shares will be delisted from the Toronto Stock Exchange following the closing of the Arrangement.
National Bank Financial Markets acted as fairness opinion provider for Kiwetinohk Energy Corp. National Bank Financial Markets acted as financial advisor for Kiwetinohk Energy Corp. RBC Capital Markets Inc. acted as financial advisor for Kiwetinohk Energy Corp. Chrysten E. Perry of Stikeman Elliott LLP acted as legal advisor for Kiwetinohk Energy Corp. Peters & Co., Limited acted as fairness opinion provider for Kiwetinohk Energy Corp. Burnet, Duckworth & Palmer LLP acted as legal advisor for Cygnet Energy Ltd. Tudor, Pickering, Holt & Co. Securities Canada, ULC acted as financial advisor for Cygnet Energy Ltd. BMO Capital Markets acted as financial advisor for Cygnet Energy Ltd. Norton Rose Fulbright Canada LLP acted as legal advisor to Cygnet for the related debt and equity financings. Carlyle acted as advisor to Cygnet on the debt financing arrangements for the Acquisition.
Cygnet Energy Ltd. completed the acquisition of Kiwetinohk Energy Corp. (TSX:KEC) from ARC Financial Corp., Luminus Energy IE Designated Activity Company and others on December 18, 2025. The KEC Shares are expected to be delisted from the Toronto Stock Exchange at the close of business on December 19, 2025. Price Target Changed • Dec 18
Price target increased by 15% to CA$30.00 Up from CA$26.00, the current price target is provided by 1 analyst. New target price is 21% above last closing price of CA$24.70. The company is forecast to post earnings per share of CA$2.14 for next year compared to CA$0.024 last year. Recent Insider Transactions Derivative • Nov 14
CEO & Non-Independent Director exercised options to buy CA$7.4m worth of stock. On the 10th of November, Patrick Carlson exercised options to buy 300k shares at a strike price of around CA$10.00, costing a total of CA$3.0m. This transaction amounted to 28% of their direct individual holding at the time of the trade. Since December 2024, Patrick's direct individual holding has increased from 1.02m shares to 1.05m. Company insiders have collectively bought CA$8.4m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Nov 08
Kiwetinohk Energy Corp. Updates Production Guidance for the Year 2025 Kiwetinohk Energy Corp. updated production guidance for the year 2025. For the year, the company updated Oil & liquids production of 45% - 49% compared to previous guidance of 45% - 49%. Total production of 33.0 - 34.0 Mboe/d compared to previous guidance of 32.0 - 34.0 Mboe/d. Natural gas production of 51% - 55% compared to previous guidance of 51% - 55%. Reported Earnings • Nov 06
Third quarter 2025 earnings released: EPS: CA$0.41 (vs CA$0.74 in 3Q 2024) Third quarter 2025 results: EPS: CA$0.41 (down from CA$0.74 in 3Q 2024). Revenue: CA$141.0m (up 21% from 3Q 2024). Net income: CA$18.1m (down 44% from 3Q 2024). Profit margin: 13% (down from 28% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 3.5% growth forecast for the Oil and Gas industry in Canada. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Announcement • Oct 28
Cygnet Energy Ltd. agreed to acquire Kiwetinohk Energy Corp. (TSX:KEC) from ARC Financial Corp., Luminus Energy IE Designated Activity Company and others for CAD 1.1 billion. Cygnet Energy Ltd. agreed to acquire Kiwetinohk Energy Corp. (TSX:KEC) from ARC Financial Corp., Luminus Energy IE Designated Activity Company and others for CAD 1.1 billion on October 28, 2025. A cash consideration valued at CAD 24.75 per share will be paid by Cygnet Energy Ltd. The transaction will be financed from debt and equity financings. As per the transaction, ARC Financial Corp. will exchange its 6.06 million shares held in Kiwetinohk Energy Corp. with the shares of Cygnet Energy Ltd.
The transaction is subject to approval by regulatory board / committee, antitrust approval, approval of offer by target shareholders and subject to court approval. The Board of Directors of Kiwetinohk Energy Corp. formed a special committee for the transaction. The deal has been unanimously approved by the board of directors of Kiwetinohk Energy Corp. The transaction is expected to close in late December 2025.
National Bank Financial Markets acted as fairness opinion provider for Kiwetinohk Energy Corp. National Bank Financial Markets acted as financial advisor for Kiwetinohk Energy Corp. RBC Capital Markets Inc. acted as financial advisor for Kiwetinohk Energy Corp. Stikeman Elliott LLP acted as legal advisor for Kiwetinohk Energy Corp. Peters & Co., Limited acted as fairness opinion provider for Kiwetinohk Energy Corp. Burnet, Duckworth & Palmer LLP acted as legal advisor for Cygnet Energy Ltd. Tudor, Pickering, Holt & Co. Securities Canada, ULC acted as financial advisor for Cygnet Energy Ltd. BMO Capital Markets acted as financial advisor for Cygnet Energy Ltd. Price Target Changed • Aug 26
Price target increased by 7.5% to CA$25.80 Up from CA$24.00, the current price target is an average from 5 analysts. New target price is 8.6% above last closing price of CA$23.76. Stock is up 61% over the past year. The company posted earnings per share of CA$0.024 last year. Reported Earnings • Jul 31
Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2025 results: EPS: CA$1.35 (up from CA$0.61 loss in 2Q 2024). Revenue: CA$195.1m (up 90% from 2Q 2024). Net income: CA$59.3m (up CA$85.8m from 2Q 2024). Profit margin: 30% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) exceeded analyst estimates significantly. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Oil and Gas industry in Canada. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Price Target Changed • Jul 17
Price target increased by 9.2% to CA$23.80 Up from CA$21.80, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of CA$22.72. Stock is up 71% over the past year. The company is forecast to post earnings per share of CA$2.99 for next year compared to CA$0.024 last year. Recent Insider Transactions • Jul 08
CEO & Non-Independent Director recently bought CA$436k worth of stock On the 3rd of July, Patrick Carlson bought around 20k shares on-market at roughly CA$21.57 per share. This transaction amounted to 2.0% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth CA$506k. This was Patrick's only on-market trade for the last 12 months. Recent Insider Transactions • Jun 26
Chief Financial Officer recently bought CA$506k worth of stock On the 24th of June, Jakub Brogowski bought around 25k shares on-market at roughly CA$20.24 per share. This transaction increased Jakub's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Jakub has been a buyer over the last 12 months, purchasing a net total of CA$512k worth in shares. Price Target Changed • Jun 11
Price target increased by 7.7% to CA$21.75 Up from CA$20.20, the current price target is an average from 4 analysts. New target price is 19% above last closing price of CA$18.28. Stock is up 38% over the past year. The company posted earnings per share of CA$0.024 last year. Reported Earnings • May 09
First quarter 2025 earnings released: EPS: CA$1.25 (vs CA$0.25 in 1Q 2024) First quarter 2025 results: EPS: CA$1.25 (up from CA$0.25 in 1Q 2024). Revenue: CA$179.5m (up 42% from 1Q 2024). Net income: CA$54.9m (up 395% from 1Q 2024). Profit margin: 31% (up from 8.8% in 1Q 2024). Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Oil and Gas industry in Canada. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • May 08
Kiwetinohk Energy Corp. to Report Q2, 2025 Results on Jul 30, 2025 Kiwetinohk Energy Corp. announced that they will report Q2, 2025 results After-Market on Jul 30, 2025 Announcement • Mar 11
Kiwetinohk Energy Corp., Annual General Meeting, May 21, 2025 Kiwetinohk Energy Corp., Annual General Meeting, May 21, 2025. Location: alberta, calgary Canada New Risk • Mar 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 93% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Reported Earnings • Mar 06
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CA$0.02 (down from CA$2.55 in FY 2023). Revenue: CA$437.6m (down 2.4% from FY 2023). Net income: CA$1.07m (down 99% from FY 2023). Profit margin: 0.2% (down from 25% in FY 2023). Revenue missed analyst estimates by 5.4%. Earnings per share (EPS) also missed analyst estimates by 99%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Oil and Gas industry in Canada. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 8% per year. Announcement • Mar 06
Kiwetinohk Energy Corp. to Report Q1, 2025 Results on May 07, 2025 Kiwetinohk Energy Corp. announced that they will report Q1, 2025 results on May 07, 2025 Announcement • Feb 05
Bitdeer Technologies Group (NasdaqCM:BTDR) acquired 101-MW Opal Natural Gas-fired Power Project from Kiwetinohk Energy Corp. (TSX:KEC) for $21 million. Bitdeer Technologies Group (NasdaqCM:BTDR) acquired 101-MW Opal Natural Gas-fired Power Project from Kiwetinohk Energy Corp. (TSX:KEC) for $21 million on February 4, 2025.
Bitdeer Technologies Group (NasdaqCM:BTDR) completed the acquisition of 101-MW Opal Natural Gas-fired Power Project from Kiwetinohk Energy Corp. (TSX:KEC) for $21 million on February 4, 2025. Announcement • Jan 23
Kiwetinohk Energy Corp. Appoints Ms. Alicia Kilmer to the Board of Directors Kiwetinohk Energy Corp. announced the appointment of Ms. Alicia Kilmer to the Company's Board of Directors, effective January 22, 2025. Ms. Kilmer was recently appointed Vice-President, Strategic Planning & Development at Tundra Oil & Gas and is the owner of AMK Strategy Consulting, where she collaborates with executive teams to enhance decision-making and establish high-performing strategic planning and business development teams. Previously, Ms. Kilmer served as Manager of Strategic Planning and New Ventures at ARC Resources Ltd. New Risk • Dec 26
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 100% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (100% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (14% net profit margin). Announcement • Dec 17
Kiwetinohk Energy Corp. Provides Production Guidance for the Year 2025 and 2026 Kiwetinohk Energy Corp. provided production guidance for the year 2025 and 2026. The company expects production guidance from 31.0 Mboe/d - 34 Mboe/d for 2025.
For 2026, the company also Projected production growth of approximately 15% over the midpoint of 2025 guidance, reaching an expected annual range of 35.0 - 39.0 Mboe/d. Recent Insider Transactions • Dec 12
Insider recently bought CA$63k worth of stock On the 4th of December, Michael Hantzsch bought around 4k shares on-market at roughly CA$15.65 per share. This transaction amounted to 8.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$341k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Dec 09
Insider recently bought CA$63k worth of stock On the 4th of December, Michael Hantzsch bought around 4k shares on-market at roughly CA$15.65 per share. This transaction amounted to 8.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$341k more in shares than they have sold in the last 12 months. Reported Earnings • Nov 08
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: CA$0.74 (up from CA$0.28 loss in 3Q 2023). Revenue: CA$142.1m (up 31% from 3Q 2023). Net income: CA$32.5m (up CA$44.6m from 3Q 2023). Profit margin: 23% (up from net loss in 3Q 2023). The move to profitability was primarily driven by higher revenue. Revenue missed analyst estimates by 6.7%. Earnings per share (EPS) also missed analyst estimates by 43%. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 1.3% growth forecast for the Oil and Gas industry in Canada. Announcement • Nov 07
Kiwetinohk Energy Corp. to Report Fiscal Year 2024 Results on Mar 06, 2025 Kiwetinohk Energy Corp. announced that they will report fiscal year 2024 results on Mar 06, 2025 Reported Earnings • Aug 02
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: CA$0.61 loss per share (down from CA$0.49 profit in 2Q 2023). Revenue: CA$90.6m (down 1.0% from 2Q 2023). Net loss: CA$26.5m (down 222% from profit in 2Q 2023). Revenue missed analyst estimates by 16%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Oil and Gas industry in Canada. Announcement • Aug 02
Kiwetinohk Energy Corp. Revises Production Guidance for the Year 2024 Kiwetinohk Energy Corp. revised production guidance for the year 2024. The company increased the lower end of full-year production guidance from 25.0 Mboe/d - 27.5 Mboe/d to a revised range of 26.0 Mboe/d - 27.5 Mboe/d. Announcement • Aug 01
Kiwetinohk Energy Corp. to Report Q3, 2024 Results on Nov 07, 2024 Kiwetinohk Energy Corp. announced that they will report Q3, 2024 results Pre-Market on Nov 07, 2024 Announcement • May 10
Kiwetinohk Energy Corp. to Report Q2, 2024 Results on Aug 01, 2024 Kiwetinohk Energy Corp. announced that they will report Q2, 2024 results Pre-Market on Aug 01, 2024 New Risk • May 09
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 17% Last year net profit margin: 37% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Reported Earnings • May 09
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: CA$0.25 (down from CA$1.22 in 1Q 2023). Revenue: CA$115.4m (down 9.3% from 1Q 2023). Net income: CA$11.1m (down 79% from 1Q 2023). Profit margin: 9.6% (down from 42% in 1Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) also missed analyst estimates by 52%. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Oil and Gas industry in Canada. Announcement • May 09
Kiwetinohk Energy Corp. Revises Production Guidance for the Year 2024 Kiwetinohk Energy Corp. revised production guidance for the year 2024. For the year, the company expects revised production (2024 average) to be in the range of 25.0 Mboe/d to 27.5 Mboe/d compared to previously expected production (2024 average) to be in the range of 24.0 Mboe/d to 27.0 Mboe/d. Reported Earnings • Mar 08
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: CA$2.54 (down from CA$4.34 in FY 2022). Revenue: CA$522.9m (down 28% from FY 2022). Net income: CA$111.9m (down 41% from FY 2022). Profit margin: 21% (down from 26% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 12%. Earnings per share (EPS) exceeded analyst estimates by 38%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Oil and Gas industry in Canada. Announcement • Mar 07
Kiwetinohk Energy Corp. to Report Q1, 2024 Results on May 09, 2024 Kiwetinohk Energy Corp. announced that they will report Q1, 2024 results Pre-Market on May 09, 2024 Announcement • Feb 24
Kiwetinohk Energy Corp., Annual General Meeting, May 09, 2024 Kiwetinohk Energy Corp., Annual General Meeting, May 09, 2024. Location: Calgary Alberta Canada Recent Insider Transactions • Dec 31
Independent Director recently bought CA$57k worth of stock On the 28th of December, Steven Sinclair bought around 5k shares on-market at roughly CA$11.30 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$251k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Dec 22
President of Power Division recently bought CA$56k worth of stock On the 19th of December, Fareen Sunderji bought around 5k shares on-market at roughly CA$11.65 per share. This transaction increased Fareen's direct individual holding by 24x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$195k more in shares than they have sold in the last 12 months. Reported Earnings • Nov 11
Third quarter 2023 earnings released: CA$0.27 loss per share (vs CA$1.26 profit in 3Q 2022) Third quarter 2023 results: CA$0.27 loss per share (down from CA$1.26 profit in 3Q 2022). Revenue: CA$77.3m (down 57% from 3Q 2022). Net loss: CA$12.1m (down 122% from profit in 3Q 2022). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Oil and Gas industry in Canada. Announcement • Aug 25
Kiwetinohk Energy Announces Fareen Sunderji as the New President of Its Power Division Kiwetinohk Energy announced Fareen Sunderji as the new President of its Power Division. Ms. Sunderji's appointment follows a thorough search with the support of a global executive recruiting firm. Fareen joins Kiwetinohk from a major energy infrastructure company where she held various leadership positions over the last decade in the power and natural gas business in engineering, supply chain, project execution, operations, commercial, asset integration and divestitures. Fareen holds a degree in Electrical Engineering from the University of Alberta and an MBA from Yale School of Management. Board Change • Aug 18
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Colin Bergman was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • May 08
Kiwetinohk Announces Partial Shutdown of Facilities in Proximity to Alberta Wildfires To protect the health and safety of employees, contractors and the community, Kiwetinohk has safely shut-in the majority of its Placid operations in response to downstream 3rd party interruptions that are in proximity to the Alberta wildfires. Safety is the top priority and are actively responding to changes in the wildfire situation to protect people, the environment and the assets. Kiwetinohk will provide safety and operational updates as needed as more information becomes available. Announcement • May 04
Kiwetinohk Energy Corp. Revises Production Guidance for the Year 2023 Kiwetinohk Energy Corp. revised production guidance for the year 2023. For the year 2023, the company expects Average production of 22.0 Mboe/d to 25.0 Mboe/d compared to previous guidance of 24.5 Mboe/d to 28.5 Mboe/d. Oil & liquids production of 10.1 Mbbl/d to 11.5 Mbbl/d compared to previous guidance of 12.1 Mbbl/d to 14.0 Mbbl/d. Oil & liquids production of 71.4 MMcf/d to 81.0 MMcf/d compared to previous guidance of 74.4 MMcf/d to 87.0 MMcf/d. Reported Earnings • May 04
First quarter 2023 earnings released: EPS: CA$1.22 (vs CA$0.56 loss in 1Q 2022) First quarter 2023 results: EPS: CA$1.22 (up from CA$0.56 loss in 1Q 2022). Revenue: CA$161.8m (up 22% from 1Q 2022). Net income: CA$53.9m (up CA$78.5m from 1Q 2022). Profit margin: 33% (up from net loss in 1Q 2022). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 1.9% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Canada are expected to remain flat. Recent Insider Transactions • Mar 22
Lead Independent Director recently bought CA$50k worth of stock On the 14th of March, Beth Reimer-Heck bought around 4k shares on-market at roughly CA$12.30 per share. This transaction amounted to 82% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$1.4m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Mar 17
Lead Independent Director recently bought CA$50k worth of stock On the 14th of March, Beth Reimer-Heck bought around 4k shares on-market at roughly CA$12.30 per share. This transaction amounted to 82% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$1.4m more in shares than they have sold in the last 12 months. Reported Earnings • Mar 09
Full year 2022 earnings released: EPS: CA$4.34 (vs CA$1.31 loss in FY 2021) Full year 2022 results: EPS: CA$4.34 (up from CA$1.31 loss in FY 2021). Revenue: CA$724.3m (up 161% from FY 2021). Net income: CA$191.0m (up CA$232.5m from FY 2021). Profit margin: 26% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 1.4% decline forecast for the Oil and Gas industry in Canada. Recent Insider Transactions • Nov 25
Insider recently bought CA$105k worth of stock On the 18th of November, Michael Carlson bought around 7k shares on-market at roughly CA$14.70 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$1.3m more in shares than they have sold in the last 12 months. Announcement • Nov 19
Kiwetinohk Energy Corp. Provides Financial Guidance for the Fourth Quarter of 2022 Kiwetinohk Energy Corp. provided financial guidance for the fourth quarter of 2022. The company expects sales to be average approximately 23,000 boe/d- 24,000 boe/d, resulting in 2022 annual sales average of 17,400 boe/d- 17,600 boe/d. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director John Whelen was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 11
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: CA$1.26 (up from CA$1.39 loss in 3Q 2021). Revenue: CA$153.3m (up 59% from 3Q 2021). Net income: CA$55.4m (up CA$103.2m from 3Q 2021). Profit margin: 36% (up from net loss in 3Q 2021). The move to profitability was primarily driven by higher revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 3.9%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 1.5% decline forecast for the Oil and Gas industry in Canada. Announcement • Nov 11
Kiwetinohk Energy Corp. Revises Production Guidance for the Year 2022 Kiwetinohk Energy Corp. revised production guidance for the year 2022. For the year, the company expects average production to be 16.0 Mboe/d to 18.0 Mboe/d compared to previous guidance of 16 Mboe/d to 18.0 Mboe/d; Oil & liquids to be 8.00 Mbbl/d to 8.80 Mbbl/d compared to previous guidance of 8.00 Mbbl/d to 8.80 Mbbl/d; and Natural gas to be 48.0 MMcf/d to 55.2 MMcf/d compared to previous guidance of 48.0 MMcf/d to 55.2 MMcf/d. Announcement • Oct 20
Kiwetinohk Energy Corp. to Report Q3, 2022 Results on Nov 10, 2022 Kiwetinohk Energy Corp. announced that they will report Q3, 2022 results on Nov 10, 2022 Announcement • Sep 16
Kiwetinohk Energy Corp. (TSX:KEC) completed the acquisition of 28.5% average working interest in Montney Assets in the Placid Area for $58.3 million. Kiwetinohk Energy Corp. (TSX:KEC) entered into an agreement to acquire an additional 28.5% average working interest in Montney Assets in the Placid Area for $59 million on August 24, 2022. As for consideration, purchase price net of adjustments is approximately $59 million. The transaction is expected to close on or about September 15, 2022. Kiwetinohk is expected to have $210 million of available borrowing capacity, 56% of its current $375 million bank facility. National Bank of Canada (TSX:NA) acted as financial advisor and Norton Rose Fulbright Canada LLP acted as legal advisor to Kiwetinohk Energy Corp.
Kiwetinohk Energy Corp. (TSX:KEC) completed the acquisition of 28.5% average working interest in Montney Assets in the Placid Area on September 15, 2022. Recent Insider Transactions • Sep 08
Independent Director recently bought CA$97k worth of stock On the 1st of September, Judith Athaide bought around 7k shares on-market at roughly CA$14.90 per share. This transaction increased Judith's direct individual holding by 3x at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth CA$539k. Insiders have collectively bought CA$1.2m more in shares than they have sold in the last 12 months. Announcement • Aug 26
Kiwetinohk Energy Corp. (TSX:KEC) entered into an agreement to acquire an additional 28.5% average working interest in Montney Assets in the Placid Area for $61.4 million. Kiwetinohk Energy Corp. (TSX:KEC) entered into an agreement to acquire an additional 28.5% average working interest in Montney Assets in the Placid Area for $61.4 million on August 24, 2022. The transaction is expected to close on or about September 15, 2022. Kiwetinohk is expected to have $210 million of available borrowing capacity, 56% of its current $375 million bank facility. Announcement • Aug 25
Kiwetinohk Energy Corp. Revises Production Guidance for the Year 2022 Kiwetinohk Energy Corp. revised production guidance for the year 2022. For the year, the company expects average production to be 16.0 Mboe/d to 18.0 Mboe/d compared to previous guidance of 15.5 Mboe/d to 17.0 Mboe/d; Oil & liquids to be 8.00 Mbbl/d to 8.80 Mbbl/d compared to previous guidance of 7.75 Mbbl/d to 8.50 Mbbl/d; and Natural gas to be 48.0 MMcf/d to 55.0 MMcf/d compared to previous guidance of 46.5 MMcf/d to 51.0 MMcf/d. Reported Earnings • Aug 13
Second quarter 2022 earnings released: EPS: CA$1.02 (vs CA$0.47 in 2Q 2021) Second quarter 2022 results: EPS: CA$1.02 (up from CA$0.47 in 2Q 2021). Revenue: CA$216.2m (up 274% from 2Q 2021). Net income: CA$44.9m (up 227% from 2Q 2021). Profit margin: 21% (down from 24% in 2Q 2021). Over the next year, revenue is expected to shrink by 16% compared to a 76% growth forecast for the industry in Canada. Announcement • Aug 12
Kiwetinohk Energy Corp. Revises Production Guidance for the Year 2022 Kiwetinohk Energy Corp. revised production guidance for the year 2022 . For the year, the company expects average Production to be 15.5 Mboe/d to 17.0 Mboe/d compared to previous guidance of 15.0 Mboe/d to 17.0 Mboe/d. Oil & liquids to be 7.75 Mbbl/d to 8.5 Mbbl/d compared to previous guidance of 7.5 Mbbl/d to 8.5 Mbbl/d. Natural gas to be 46.5 MMcf/d to 51.0 MMcf/d compared to previous guidance of 45 MMcf/d to 51 MMcf/d. Announcement • Jul 26
Kiwetinohk Energy Corp. to Report Q2, 2022 Results on Aug 11, 2022 Kiwetinohk Energy Corp. announced that they will report Q2, 2022 results Pre-Market on Aug 11, 2022 Recent Insider Transactions • Jul 22
Independent Director recently bought CA$539k worth of stock On the 14th of July, John Whelen bought around 40k shares on-market at roughly CA$13.47 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$1.1m more in shares than they have sold in the last 12 months. Announcement • May 19
Kiwetinohk Energy Corp. Revises Production Guidance for the Year 2022 and Provides Production Guidance for the Year 2023 Kiwetinohk Energy Corp. revised production guidance for the year 2022 and provided production guidance for the year 2023 . For the period, the company expects average Production to be 15.0 Mboe/d to 17.0 Mboe/d compared to previous guidance of 13.5 Mboe/d to 15.5 Mboe/d. Oil & liquids to be 7.5 Mbbl/d to 8.5 Mbbl/d compared to previous guidance of 6.75 Mbbl/d to 7.75 Mbbl/d. Natural gas to be 45 MMcf/d to 51 MMcf/d compared to previous guidance of 40.5 MMcf/d to 46.5 MMcf/d.For the year 2023, the company expects Production in the range of 23,000 Boe/d - 26,000 Boe/d. Reported Earnings • May 13
First quarter 2022 earnings released: CA$0.56 loss per share (vs CA$2.43 loss in 1Q 2021) First quarter 2022 results: CA$0.56 loss per share (up from CA$2.43 loss in 1Q 2021). Revenue: CA$132.4m (up CA$128.8m from 1Q 2021). Net loss: CA$24.6m (loss narrowed 47% from 1Q 2021). Over the next year, revenue is expected to shrink by 9.9% compared to a 65% growth forecast for the industry in Canada. Announcement • May 13
Kiwetinohk Energy Corp. Revises Production Guidance for the Year 2022 Kiwetinohk Energy Corp. revised production guidance for the year 2022. For the period, the company expects average Production to be 13.5 Mboe/d to 15.5 Mboe/d compared to previous guidance of 13.0 Mboe/d to 15.0 Mboe/d. Oil & liquids to be 6.75 Mbbl/d to 7.75 Mbbl/d compared to previous guidance of 6.50 Mbbl/d to 7.50 Mbbl/d. Natural gas to be 40.5 MMcf/d to 46.5 MMcf/d compared to previous guidance of 39.0 MMcf/d to 45.0 MMcf/d. Announcement • May 07
Kiwetinohk Energy Corp. to Report Q1, 2022 Results on May 12, 2022 Kiwetinohk Energy Corp. announced that they will report Q1, 2022 results Pre-Market on May 12, 2022 Board Change • Apr 27
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director John Whelen was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 09
Kiwetinohk Energy Corp., Annual General Meeting, Jun 16, 2022 Kiwetinohk Energy Corp., Annual General Meeting, Jun 16, 2022. Recent Insider Transactions • Apr 08
Insider recently bought CA$295k worth of stock On the 6th of April, Kurt Molnar bought around 25k shares on-market at roughly CA$12.04 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$325k more in shares than they have sold in the last 12 months. Board Change • Apr 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director John Whelen was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 28
Full year 2021 earnings released: CA$1.31 loss per share (vs CA$0.36 loss in FY 2020) Full year 2021 results: CA$1.31 loss per share (down from CA$0.36 loss in FY 2020). Revenue: CA$278.6m (up CA$269.1m from FY 2020). Net loss: CA$41.5m (loss widened CA$36.6m from FY 2020). Oil reserves Proven reserves: 1.257 MMbbls Gas reserves and sales price Proven reserves: 293.452 Bcf Average sales price/mcf: US$5.29 LNG reserves and sales price Proven reserves: 44.17 MMbbls Average sales price/bbl: US$52.60 Combined production and costs Oil equivalent production: 3.577 MMboe (0.281 MMboe in FY 2020) Average production cost/Boe: US$13.27 (US$10.46/Boe in FY 2020) Over the next year, revenue is expected to shrink by 20% compared to a 63% growth forecast for the oil industry in Canada. Board Change • Mar 13
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director John Whelen was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 04
Kiwetinohk Appoints Judith Athaide and John Whelen as New Independent Board Members Kiwetinohk Energy Corp. announced the appointment of two new independent directors, Judith Athaide and John Whelen, effective February 3, 2022. Judith Athaide is a corporate director, entrepreneur, professional engineer and certified corporate director. She brings more than 30 years’ experience in the energy, power and utilities, infrastructure, clean technologies, real estate, financial services and professional services sectors. Ms. Athaide is the President and Chief Executive Officer of The Cogent Group Inc. Board Change • Jan 18
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Chairman of the Board Kevin Brown was the last director to join the board, commencing their role in 2018. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.