Pieridae is Canada’s only independent, publicly traded LNG company, focused on developing the US$10 billion Goldboro LNG Project and export facility off Canada’s East Coast, supplied with Canadian natural gas that the company owns. Many key elements are in place: the majority of key permits, a 20-year contract with German utility Uniper to buy half of Goldboro’s gas, US$4.5 billion in potential loans from the German Government, and a signed benefits with Nova Scotia Mi’kmaq bands.
The Goldboro Project will create thousands of Canadian jobs; support new roads, schools and hospitals through taxes and royalties; and create stable world markets for Canadian natural gas for decades to come.
20/09/2019 - GOLDBORO LNG ATTRACTS SIGNIFICANT INTEREST AT GASTECH 2019
Pieridae senior leaders discussed the project with many stakeholders
Regarded as the most significant global meeting for gas, energy and LNG professionals, GasTech returned to Houston for the first time in nearly two decades this week.
Pieridae senior leaders Thomas Dawson and Mark Brown joined 35,000 other international professionals to discuss opportunities and challenges facing the industry.
05/09/2019 - RAISING MONEY NECESSARY TO CLOSE SHELL ASSET ACQUISITION NEARLY COMPLETE
Pieridae Energy issued a news release September 5, highlighting the fact it has made solid progress in raising the financing necessary to close its deal with Shell Canada.
The company announced in late June it had reached an agreement to buy Shell upstream and midstream assets in the Alberta Foothills for CAD$190 million. The assets included production just shy of 29,000 barrels of oil equivalent, three deep cut sour gas processing plants (Jumping Pound, Caroline and Waterton), and 1,700 kilometers of pipelines.
To read the news release click here.
14/08/2019 - PIERIDAE TEAM HEADS TO THE FIELD, MEETS AGAIN WITH SHELL EMPLOYEES
In this day and age of sometimes excessive instant messaging, texting and emails, nothing beats a face to face conversation. Members of the Pieridae team took that to heart this week, travelling rural Alberta highways to meet with Shell employees who work at the Jumping Pound, Caroline and Waterton gas plants.
In late June, Pieridae announced its intention to purchase these three plants along with upstream assets that currently produce just under 29,000 barrels of oil equivalent a day. The $190 million deal will immediately add value to the company and help enhance its position in the Alberta Foothills.
01/08/2019 - NOVA SCOTIANS ATTRACTED BY GOLDBORO LNG JOB PROSPECTS
A Young Family Returns to Nova Scotia from Alberta
Jamie McLennan moved to Alberta with his wife for a better life.
Like so many from Canada’s East Coast, the lure of the oil patch and the chance to get a steady, good paying job was an opportunity Jamie couldn’t pass up, especially when the prospects back home were few.
But he's back home now and looking forward to the opportunities at what would be Nova Scotia's largest-ever mega project - Goldboro LNG - and the 3,500 construction jobs plus 200 full-time jobs it would create.
26/07/2019 - WORLD-CLASS ENGINEERING FIRM VISITS GOLDBORO LNG SITE
KBR WORKING WITH PIERIDAE TO DESIGN & BUILD THE LNG EXPORT FACILITY
KBR is a globally-recognized company that’s been around for 100 years and has built or is building some of the most complex projects in the world. Pieridae Energy announced in April it would work with KBR to design, cost estimate and ultimately build its Goldboro LNG facility off the coast of Nova Scotia. The cost estimating phase is expected to take the next several months to complete. It will result in a turn-key contract.
17/07/2019 - A PEA-SIZED COMPANY WITH A HUGE NATURAL GAS VISION
If this is David and Goliath, at the very least David has some pretty big rocks in his sling.
Nice word play on our TSX-V stock ticker (PEA) and a great piece of writing overall from the team at the Oil & Gas Investment Bulletin and editor Keith Schaefer.
Give the attached story a read as it details our flagship project: the US$10 billion Goldboro LNG initiative - opening up global markets for Canadian natural gas and creating and supporting thousands of jobs in Alberta, Nova Scotia and beyond.
09/07/2019 - PIERIDAE CLOSES THE TSX – INJECTS SOME STAMPEDE SPIRIT!
Pieridae Energy had the privilege to close the Toronto Stock Exchange today during Stampede week in Calgary.
“As former Alberta Premier and Calgary Mayor Ralph Klein said the Stampede symbolizes the province’s spirit,” Pieridae CEO Alfred Sorensen points out. “So it was special for us to share that spirit through the Toronto Stock Exchange and feature a company that is working to lay the groundwork for its own legacy.”
04/07/2019 - High media interest in Pieridae's purchase of Shell's Alberta Foothills assets
Since the deal to acquire Shell Canada's assets was announced June 26, media interest in the acquisition has been high. Headlines of the coverage include:
Click on the link below to read all of the coverage.
27/06/2019 - Pieridae CEO Alfred Sorensen Discusses Shell Asset Acquisition with BNN
Our CEO spoke with BNN's Andy Bell about Pieridae's acquisition of Shell Canada's Foothills assets. Alfred Sorensens told Bell the deal secures the remaining natural gas needed to supply the first facility or train for its Goldboro LNG export facility on Canada's East Coast. And, the acquisition moves Pieridae one step closer to making a final investment decision for the US$10 billion project, one that would create thousands of Canadian jobs and supply Europe and other global markets with clean-burning natural gas.
26/06/2019 - PIERIDAE ENERGY TO PURCHASE SHELL CANADA FOOTHILLS-AREA PRODUCTION & ASSETS: 28,623 BOE/D AND ASSOCIATED MIDSTREAM ASSETS, INCLUDING THREE DEEP-CUT GAS PLANTS
Highlights:
“This Acquisition will be immediately accretive to the Company and also allows us to enhance the sustainability of our existing asset base,” said Pieridae’s Chief Executive Officer Alfred Sorensen.
“It also demonstrates solid progress for our flagship Goldboro LNG project. We said we would acquire additional gas supplies for the LNG facility and we have done that. Not only does this deal help us secure the remaining conventional natural gas supply needed for the first train of the Goldboro LNG project, it makes Pieridae a major player in the Alberta midstream and upstream industry.
“But more than that, it creates a solid, ongoing foundation for the Company as we continue to build toward becoming the first Canadian company to market LNG off the east coast to global consumers,” concluded Sorensen.
18/06/2019 - PIERIDAE 2019 AGM: SHIPPING CLEAN-BURNING NATURAL GAS TO THE WORLD
Pieridae Energy held its Annual General Meeting on June 18, where CEO Alfred Sorensen provided an update on the company's business, including its flagship Goldboro LNG Project. Sorensen told shareholders and employees work continues on the project, with a primary focus on continuing to speak with contractor KBR to progress design work and cost analysis in anticipation of a final investment decision. "We need to focus on completing our work with KBR and also look at further acquisitions to round out the natural gas needed for train 1 at Goldboro. We continue to move forward on both fronts." Sorensen adds the biggest advantage Goldboro has is that no new pipelines are needed to move the gas to the East Coast. Pieridae has agreements with TC Energy on very advantageous tolls to transport the gas through its existing pipeline system. "We are excited to transport clean-burning natural gas globally to decrease emissions and create good paying jobs for Canadians," concluded Sorensen.
14/06/2019 - INSPIRING FUTURE ENERGY LEADERS
Our Goldboro LNG SVP Martin Belanger did a great job talking to groups of enthusiastic youngsters at the Global Petroleum Show about LNG . The program was called "Young GPS: The Future of Energy". As Martin has said, the energy sector is one of the largest contributors to our Canadian GDP, and a global example of an innovative, ethically, environmentally and sustainably responsible, highly regulated and leading-edge industry. Some local top performing students between the ages of 12-17 were invited to participate in a one-of-a-kind afternoon program where they met industry experts to learn how the newest technological advancements are influencing the industry and how a future career in the industry can contribute to Canada’s future global leadership position.
14/06/2019 - "WE CAN'T MISS OUT ON THE LATEST OPPORTUNITY TO SUPPLY THE WORLD WITH CANADIAN ENERGY" PIERIDAE CEO ALFRED SORENSEN
On the first day of the Global Petroleum Show in Calgary, Pieridae's CEO Alfred Sorensen was part of a keynote panel that discussed gas and LNG and how it is changing our energy future. Total demand for oil and gas is expected to rise by 30 per cent between now and 2040, and LNG demand could double by 2030. Sorensen, along with industry leaders from Shell, Peyto Exploration & Development, and the B.C. LNG Alliance offered insight into the opportunities and obstacles facing Canada as it attempts to play a role in supplying the globe with much-needed natural gas. All agreed natural gas can change the lives of many globally who currently have no access to clean-burning, inexpensive fuel to heat their homes and cook their food.
07/06/2019 - CEO ALFRED SORENSEN SPEAKS WITH THE MEDIA ABOUT WORLD LNG MARKETS & THE GOLDBORO PROJECT
Pieridae's CEO Alfred Sorensen was featured on Danielle Smith's QR77 live radio show on June 7 where he talked about the prospects for LNG development in Canada, with a focus on Pieridae's US$10 billion Goldboro LNG Project. Goldboro is Canada's best bet for LNG development off the East Coast, where stranded Alberta gas would be shipped to an export facility in Nova Scotia, liquefied and sold to global markets, creating thousands of jobs in Alberta and Nova Scotia.
30/05/2019 - EYE IN THE SKY: A DRONE'S VIEW OF THE GOLDBORO LNG SITE
Take a fly-over of Pieridae Energy's site in Nova Scotia where it will build a US$8 billion liquefied natural gas export facility. The project will be located 250 kilometers northeast of Halifax near the tiny community of Goldboro. It would be the province's largest-ever mega-project, putting 3,500 men and women to work during construction, and creating 200 permanent jobs once the facility is up and running.
30/05/2019 - PIERIDAE RAMPS UP LNG PROJECT ON EAST COAST
Our President and CEO Alfred Sorensen had the opportunity to engage with long-time business reporter Mario Toneguzzi to talk about Pieridae Energy, its key Goldboro LNG project, and how development of the LNG export facility continues to move forward.
30/05/2019 - PIERIDAE ANNOUNCES FIRST QUARTER RESULTS
“I was pleased we started the year off by signing a benefits agreement with the Nova Scotia Mi’kmaq, building on the respectful relationship we have worked to build with them for a number of years,” said Pieridae Energy CEO Alfred Sorensen. “The milestones this quarter dovetailed into work that continues to finalize an agreement with a contractor to build the Goldboro LNG facility, and also our ongoing efforts to secure the natural gas supply needed to supply the first facility or train at Goldboro.”
10/05/2019 - PIERIDAE COMMENTS ON RECENT TRADING
CALGARY, ALBERTA – May 9, 2019 - Pieridae Energy Limited (Pieridae or the Corporation) (TSXV: PEA) In light of the recent share price decline, Pieridae would like to confirm that there have been no material adverse changes in its business. As Pieridae’s management does not believe the current trading price of the Corporation’s shares properly reflects the inherent value of the Corporation’s investments, management reiterates that key project milestones achieved for its flagship Goldboro LNG Project are still firmly in place.
10/04/2019 - Goldboro LNG - Newsletter - Spring 2019
The newest edition of the Goldboro LNG newsletter is now posted on the website. It contains information on the benefits agreement with the MI'KMAQ, the Ikkuma acquisition, as well as general updates on the project and the team.
01/04/2019 - PIERIDAE ACHIEVES MAJOR STEP FORWARD - ENGAGES EPC CONTRACTOR KBR
CALGARY, ALBERTA - April 1, 2019 - Pieridae Energy Limited (Pieridae) (TSXV: PEA) is pleased to announce that the respected global engineering firm of Kellogg Brown & Root Limited (KBR) has been engaged to perform a review of an amended version of the previously prepared front-end engineering and design (FEED) study for the proposed Goldboro LNG facility. KBR will also conduct an open-book estimate necessary for entering into a lump sum turnkey engineering, procurement and construction (EPC) contract. Pieridae anticipates signing that contract in the coming months. The company expects to start construction activities in 2019 and ship first gas overseas to meet the expected global LNG shortfall in 2023/2024.
Founded in 2011, Pieridae Energy is developing a fully integrated LNG infrastructure business covering the entire LNG value chain, from exploration and production of natural gas to the development and operation of an LNG export terminal - Goldboro LNG - opening up world markets for Canadian natural gas.
Pieridae is Canada’s only independent, fully-integrated LNG company looking to build the US$10 billion Goldboro LNG project to supply much needed natural gas to the globe
Goldboro is construction ready
We own low-cost reserves to supply the facility
We will leverage a low cost of capital to build the LNG terminal and gas production base
Pieridae has strong access to international markets
We appreciate our continued community, labour and First Nations support
Pieridae conducts its every operation in a socially, environmentally and fiscally responsible manner.
The company and its employees are committed to giving back to the communities in which it lives and work.
It also committed to adopting and implementing environmental stewardship strategies that minimize its ecological footprint, thus ensuring the best possible future for all Canadians.
Pieridae’s every action are guided by a fair and strict code of business ethics focusing on honesty, ethics and accountability in all our dealing with our business partners, investors, government entities and the general public.
CALGARY, ALBERTA – October 11, 2019 - Pieridae Energy Limited (“Pieridae” or the “Company”) (TSXV: PEA) is pleased to announce that it has closed the first tranche of its previously announced brokered private placement of Company subscription receipts (the “Offering”). Pieridae has issued 14,970,070 subscription receipts of the Company at a price of $0.86 per subscription receipt for gross proceeds of $12,874,260.20. Pieridae has also closed on the issuance of 711,967 subscription receipts, at a price of $0.86, on a non-brokered basis, for gross proceeds of approximately $612,291.62.
CALGARY, ALBERTA – September 30, 2019 - Pieridae Energy Limited (Pieridae or the Company) (TSXV: PEA) announces that Alberta Investment Management Corporation, on behalf of certain of its clients, and Pieridae have agreed to extend the maturity date of both (a) the $50 million senior secured term loan facility (the “Term Loan”), as described in the news release issued by the Company on December 18, 2018, and (b) the $10 million secured convertible debenture, as described in the news release issued by the Company on July 2, 2019, from September 30, 2019 to the earlier to occur of (i) October 16, 2019, or (ii) the day on which an acceleration notice is delivered, or deemed to be delivered under the Term Loan.
CALGARY, ALBERTA – September 5, 2019 - Pieridae Energy Limited (“Pieridae” or the “Company”) (TSXV: PEA) is pleased to announce that Haywood Securities Inc., as sole agent, has confirmed that it has received subscriptions for the placement of 38,637,850 subscription receipts of the Company at a price of $0.86 per subscription receipt for gross proceeds of $33,228,551.38 (the “Subscription Receipt Offering” or the “Offering”). This includes a subscription of $20 million from Erikson National Energy Inc., a portfolio company of Third Eye Capital Corporation, a subscription of $8.5 million from Electron Capital and subscriptions of approximately $350,000 from certain directors of the Company. The completion of the equity fulfills the equity commitment of the debt financing. Pieridae expects to close the equity, debt and Acquisition (as defined below) by the end of September.
