CNQ - Rubellite Energy Seems Deeply Undervalued By The Market
2024-02-05 22:17:47 ET
Summary
- Rubellite production is growing at double-digit rates.
- Rubellite is profitable already.
- Rubellite is well financed and able to fund its growth primarily through its own cash flows with little debt.
- Rubellite operates exclusively in the prolific Clearwater Play.
Rubellite Energy (RBY:CA) ( RUBLF ) was created as a spin-off of assets by Perpetual Energy ([[PMGYF]], [[PMT:CA]]) and shares management with Perpetual. It is a pure-play on the Clearwater oil reservoir in the Western Canadian Sedimentary Basin. In two short years, it has increased production from a few hundred barrels of oil a day to about 3,200 Barrels a day this year and in my opinion a likely run rate of almost 5,000 barrels a day by year end 2024....
Rubellite Energy Seems Deeply Undervalued By The Market