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    PEA   CA7207861021

PIERIDAE ENERGY LIMITED

(PEA)
  Report
Delayed Quote. Delayed Toronto Stock Exchange - 07/23 03:58:13 pm
0.33 CAD   -2.94%
07/06PIERIDAE ENERGY : announces resignation of CFO
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07/05PIERIDAE ENERGY : Announces CFO Resignation
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Pieridae Energy : Creating Caroline Carbon Capture Power Complex Carbon Capture and Sequestration and Blue Power Complex Would Be the Biggest in Canada and One of the Largest in North America

05/28/2021 | 08:45am EDT

CALGARY - Pieridae Energy Limited ('Pieridae' or the 'Company') (PEA.TO) is pleased to announce the creation of the Caroline Carbon Capture Power Complex.

The Complex, to be located at Pieridae's Caroline Facility in Alberta, will be a combination of large-scale carbon capture and sequestration and blue power production. This development supports independent, third-party research Pieridae commissioned last year which highlights pathways to achieving net-zero emissions by 2050 for the proposed Goldboro LNG Project. CCS was noted as a reputable pathway toward this goal.

The Complex will have the ability to sequester up to three million tonnes of CO2 annually into one of the Caroline Facility's depleted gas reservoirs. This amount of carbon captured equals the annual emissions from the Goldboro LNG Facility. Over the life of the Project, that's close to 100 million tonnes of CO2.

'This 'made in Canada' solution positions Pieridae to play a key role in helping to lower overall Canadian greenhouse gas emissions,' said Pieridae's CEO Alfred Sorensen. 'We know the world is looking for ways to transition to a lower-carbon intensity economy. By capturing and storing carbon on such a large scale, we move further down the strategic path of ensuring Pieridae is net carbon negative across its value chain from the wellhead to LNG delivery into Europe.'

The Caroline Carbon Capture Power Complex will capture carbon from three sources: CO2 generated at the gas processing facility, CO2 generation from power production and CO2 produced by third parties. The Complex will have a maximum power production capacity at full build-out of 7.9 billion kilowatt-hours annually.

Pieridae will reuse and re-purpose existing infrastructure at its Caroline Facility to reduce overall capital costs and environmental impact. The Company will be working with several industry partners and expects one of those partners to be an Alberta First Nations development group. Phase 1 of the Caroline Carbon Capture Power Complex will sequester one million tonnes of CO2 and produce approximately 200 MW or 1.9 billion kilkowatt-hours of blue power annually, enough to power 112,000 households each year.

Sequestering three million tonnes of CO2 per year would be the equivalent of taking more than 650,000 cars off the road each year or eliminating 4.4 billion kilowatt-hours of coal-fired power annually.

About Pieridae

Founded in 2011, Pieridae, a majority Canadian-owned corporation based in Calgary, is focused on the development of integrated energy value chain activities, including the exploration, extraction, and processing of natural gas, NGLS, and condensate; development, construction, and operation of LNG facilities. After completion of all the transactions disclosed in this news release, Pieridae has 157,641,871 common shares issued and outstanding, which trade on the TSX ('PEA.TO').

Contact:

Alfred Sorensen

Tel: (403) 261-5900

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 - - -
Net income 2021 - - -
Net Debt 2021 249 M 198 M 198 M
P/E ratio 2021 -
Yield 2021 -
Capitalization 53,6 M 42,6 M 42,6 M
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees 289
Free-Float 74,2%
Chart PIERIDAE ENERGY LIMITED
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Pieridae Energy Limited Technical Analysis Chart | PEA | CA7207861021 | MarketScreener
Technical analysis trends PIERIDAE ENERGY LIMITED
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 1
Last Close Price 0,34 CAD
Average target price 0,55 CAD
Spread / Average Target 61,8%
Managers and Directors
Alfred B. Sorensen President, Chief Executive Officer & Director
Robert Dargewitcz Chief Financial Officer
Myron Arthur Tétreault Chairman
Darcy Reding Chief Operating Officer
Charles Boulanger Independent Director
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