Ed [Jotun]'s questions to Greenfire Resources Ltd (GFR) leadership • Q3 2024
Question
Ed from Jotun sought clarification on refill well productivity rates, asked about the timeline to fill the facility's 33,800 bpd capacity, and inquired about the nature of the short-term debt figure on the balance sheet and prepayment options.
Answer
President and CEO Robert Logan clarified that the 1,000 bpd/well figure was an average across all 24 active wells, not the rate for new, higher-performing refills. CFO Anton Kraljic stated that the company does not expect to fill the plant in 2025 but is targeting late 2026. Kraljic also confirmed the short-term debt figure is the estimated amount to be repaid over the next 12 months under the note's sweep provision and that voluntary prepayments are not permitted until October 2025.