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“Poised to be the first Canadian company to market LNG off the East Coast to the world' Pieridae is Canada’s only independent, publicly-traded LNG company, focused on developing the multi-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 energy company Uniper to buy all the gas from Goldboro’s first train, confirmation of eligibility in principle of an untied loan guarantee of up to US$4.5 billion from the German Government, and a signed benefits with all 13 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. About Goldboro Latest News & Highlights 13/11/2020 - PIERIDAE RECORDS YEAR-OVER-YEAR INCREASES IN KEY FINANCIAL METRICS Company Released its Q3 2020 Results November 13, 2020 With Q3 results on the books, we continued to see year-over-year growth in revenue (up 315%), net operating income (up 76%), adjusted funds flow from operations (up 13%) and production (up 161%). We also advanced the Goldboro LNG Project, bringing Bechtel on board as our contractor to deliver a final lump sum, turnkey EPCC contract price proposal by May 31, 2021 for the LNG Project, and we signed a Letter of Award to the Nova Scotia Mi’kmaq and Black Diamond Group for the exclusive right to bid on the $720 million workforce Lodge that will house up to 5,000 during Goldboro LNG’s construction. “Our results show resiliency over the past three quarters as many companies continue to face the negativity of COVID-19 and its harsh impacts on the energy industry,” said Pieridae’s Chief Executive Officer Alfred Sorensen. “We did invest in completing planned maintenance of our assets in the quarter that had been deferred due to the pandemic. This work is necessary to ensure we continue to operate safely and reliably for the winter season. Resulting lower volumes did impact our bottom line, but we will never compromise the safety of our employees. That said, volumes continue to recover in the fourth quarter, with October’s production averaging approximately 44,100 boe/day, a 13% improvement from September. A replay of the teleconference is available until midnight (EST) on November 20, 2020. Please call 1-855-859-2056 and enter pass code 6783529# or watch here: https://produceredition.webcasts.com/starthere.jsp?ei=1397969&tp_key=1500f7a0f5 Download file See more 29/09/2020 - Pieridae Achieves a Major Goldboro LNG Milestone Bechtel Signed to Design & Build the LNG Facility Respected global engineering firm Bechtel is now on board to initiate a detailed review of scope and design and developing a comprehensive engineering, procurement, construction and commissioning (EPCC) execution plan by March 31, 2021 for the Goldboro LNG Facility, along with delivering a final lump sum, turnkey EPCC contract price proposal by May 31 of next year. “This is a very positive step forward for our Goldboro LNG Project,” said Pieridae CEO Alfred Sorensen. “Bechtel has significant experience building and delivering global LNG projects, helping their customers deliver about 30% of the world’s LNG capacity over the past two decades. They have a proven track record of delivering projects throughout the world on time and on budget.” Download file See more 26/08/2020 - PIERIDAE HIRES EXPERIENCED SVP TO LEAD ITS GOLDBORO LNG PROJECT Andy Mukherjee Brings Worldwide Expertise to Goldboro LNG We are excited to welcome Andy Mukherjee P. Eng. as Senior Vice-President LNG to lead the development of the multi-billion-dollar Goldboro LNG Project. Mr. Mukherjee is a veteran LNG industry professional with worldwide expertise in front-end engineering and design, and EPCC contracts. “We are very pleased to have someone with Andy’s vast, 30-plus years of experience join our team and lead the development of our Goldboro LNG Project,” said Pieridae CEO Alfred Sorensen. “I have every confidence Andy will lead Goldboro LNG through the open book estimate and deliver a lump sum turnkey EPCC contract for the Project to prepare us for a positive final investment decision next year.” Find the official press release here: https://pieridaeenergy.com/news/75-pieridae-hires-experienced-svp-to-lead-its-goldboro-lng-project See more 12/08/2020 - PIERIDAE CONTINUES TO DELIVER SOLID FINANCIAL RESULTS Company releases its Q2 2020 Financial Results In the midst of COVID-19 and a challenging business environment, our company achieved strong metrics in overall revenue, net operating income, adjusted funds flow from operations and daily production. “We achieved these strong results through our positive hedging strategy, limiting non-essential capital and operating spending and taking active steps to reduce administrative costs,” said Pieridae’s Chief Executive Officer Alfred Sorensen. “As a result of the Alberta Foothills asset acquisition, revenue was up more than 400% year over year on a Q2 basis, production climbed 185%, and we continued to operate our assets safely and reliably.” https://pieridaeenergy.com/latest-press-releases/74-pieridae-announces-second-quarter-results See more 28/07/2020 - REPORT: CANADIAN LNG INDUSTRY CAN CONTRIBUTE TO A POST-PANDEMIC NATIONAL ECONOMIC RECOVERY Pieridae’s Goldboro LNG is a Critical Project for Canada’s Economic Future A new report released by the Conference Board of Canada discusses the exciting economic impacts of a strong Canadian liquid natural gas industry across the country. The report concludes annual spending in the LNG sector would increase national GDP by more than $11 billion per year, substantially increase national employment, and become a major contributor to reducing GHG emissions in Canada and globally. You can check out the full report here: http://www.conferenceboard.ca/e-library/abstract.aspx?did=10763 See more 21/07/2020 - Goldboro LNG Advances in Spite of Difficult Market Conditions, COVID-19 Pieridae CEO Discusses Project with Global Podcast Pieridae CEO, Alfred Sorensen, recently spoke with Natural Gas World editor-in-chief, London, UK’s William Powell, and Americas editor, Dale Lunan, on his aspirations for the Goldboro LNG Project. Goldboro would export cleaner-burning Canadian natural gas to global markets. It was a wide-ranging discussion covering several topics including global and Canadian LNG markets going forward, the future of pipelines, and the state of current LNG projects. Throughout the interview, Sorensen confirmed Pieridae continues to advance its LNG Project despite challenging market conditions and COVID-19. https://www.naturalgasworld.com/in-a-nutshell-season-1-episode-4-canadas-east-coast-lng-aspirations-audio-80535 See more 23/06/2020 - Feature Article: ‘How Do You Safely Operate a Complex Gas Plant During a Pandemic?’ A Story of Ingenuity, Respect & Results Control Room at the Caroline Gas Complex Such has been the daily life of Mark Weiss since mid-March. Mark is the superintendent of the Caroline Gas Complex, a high-tech gas processing facility built for close to a billion dollars in the early 1990s. Pieridae produces the natural gas Albertans need to cook their food and heat their homes. Daily, we are producing enough gas for 660,000 homes in the province. On a good day, there are many challenges to keep these types of facilities running safely and reliably. Layer onto that the COVID-19 pandemic and its impacts, and all scenario planning is out the window. Mark remembers when that first phone call came to all three superintendents at Pieridae’s gas plants. COVID-19 had hit, Pieridae needed to react quickly to maintain safe, reliable operations but with one key caveat: the majority of employees now had to be working from home. The gas complexes had to start operating very differently and in a hurry… “Holy sh** this is happening, this is how we have to run our business with a rapidly advancing virus and this is what we need to do to prepare,” says Mark. “We are told senior leadership needs your plan on how we are going to keep these gas plants operating in the next couple of hours.” Download file See more 04/06/2020 - PIERIDAE OPENS THE TSX! Event Caps Off a Milestone Week With social distancing playing an overarching role, 18 of us from Pieridae were privileged to virtually open the Toronto Stock Exchange this morning. “It was a pleasure for me to join 17 of my colleagues from across Canada to virtually open the 9th largest exchange in the world by market cap,” said Pieridae CEO Alfred Sorensen. “The opening marked a special week for us at Pieridae, with the company starting trading on the TSX just yesterday. Being a part of the Exchange will contribute to raising the Company’s visibility and profile, along with exposure to the Canadian institutional investment community.” See more 02/06/2020 - PIERIDAE GRADUATES TO THE TSX Company Excited About the Prospects Going Forward Quite the accomplishment for the company to announce as Pieridae has graduated to the Toronto Stock Exchange. Shares are expected to begin being listed June 3. “This is a big step for our Company, and we look forward to the benefits being part of the TSX provide,” said Pieridae CEO Alfred Sorensen. “The key here is that being a member of the TSX allows Pieridae to tell its story to a bigger investor audience, including the Canadian institutional investment community, which should improve liquidity in the stock.” Download file See more 26/05/2020 - PIERIDAE HOLDS ITS 2020 VIRTUAL AGM New Independent Director Elected At Pieridae Energy’s Annual General Meeting held this morning, the company dealt with a number of matters including the re-election of seven directors to its Board and the election of one new, independent director. Re-elected are: Myron Tétreault, Andrew Judson, Alfred Sorenson, Mark Horrox, Charles Boulanger, Kjell Pedersen and Charle Gamba. Pieridae welcomes Kiren Singh as its newest Board member. See more 15/05/2020 - PIERIDAE RESPONDS TO REGULATORY DECISION REGARDING ALBERTA FOOTHILLS ASSETS TRANSFER OF LICENCES The Company is Confident a Solution Will Be Found CALGARY, ALBERTA – May 15, 2020 Pieridae Energy Limited (Pieridae or the Company) (TSXV: PEA) issued the following statement from CEO Alfred Sorensen with respect to the Alberta Energy Regulator’s (“AER”) decision to deny the application to transfer licences for Shell’s Foothills Assets to Pieridae: “We are disappointed by the AER’s decision regarding the transfer of licences for the Foothills Assets. The decision has nothing to do with Pieridae’s financial position nor its ability to clean up certain assets. The issue for denial was the fact that there is no precedent for splitting a licence or no ability under the current legislation to do so. This issue only applies to the Waterton and Jumping Pound gas plants. Both companies are moving swiftly to evaluate options on the transfer applications and will continue to attempt to seek clarity from the regulator to define an appropriate path forward.
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