I do not know who the partner is. If you take a look at Questerres new Presentation it might be the answer. I'm assuming this is some of the very expensive land that has been bought in the last couple of months.
It would appear that the Creek now has a 23 3/4 % interest in an additonal 5000 ish acres. The story just keeps getting better. Considering what the land sold for, if I am right, it would have depleted the Creeks bank balance.
So well # 2 is tied in. Well # 3 is due to be completed in a couple of weeks. A well on adjacent property ( 23 2/4 % ) spuds in mid Feb. Well # 3 is complted and tested by early Mar. Well # 4 will spud late Feb early Mar as I was told the rig would be moved at earliest chance. It is a smaller well that will be followed up by a much larger well.
Sometime late summer all wells will be treated via their own NGPP. A relatively safe assumption on my part. Weather permitting I see at least 2 more wells drilled on Kakwa and maybe 2 - 3 on adjacent Kakwa. They will be drilling a test well on Wapiti in late summer. IF, it showes promise they will likely continue with a horizontal leg. IF, that pans out then a follow up well. and they begin proving up a brand new area. As far as I can tell there are no wells completed in this area. Nuvista may help derisk the area soonish.
Whoever bot the Tourmaline / Perpetual property would help the Creeks situation by drilling a few wells on that property in a timely manner.
Say what you will. One can't blame management for sitting back and just waiting and watching. This could end up being a very big deal somewhere down the road. I think it already is. I just noticed that someone through National Bank and First Energy just cleaned out a chunk of stock. Funny how the bids just show up when needed.