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CALGARY – Advantage Oil and Gas Ltd. is trading at “essentially cash value” right now, but the company’s president Michael Belenkie believes spinning out a clean tech subsidiary into a frothy carbon capture market will boost the natural gas producer’s value.
Stocks of Canadian oil and gas companies have rallied sharply since the depths of the market crash that coincided with the first wave of the COVID-19 pandemic last year. Advantage shares have risen 160 per cent to trade at $3.18 per share since bottoming at $1.22 each on March 27, 2020. Still, executives at Advantage are hoping to unlock more value from the company’s assets, including a modular carbon capture and storage system the company has developed in partnership with Calgary-based Allardyce Bower Consulting Ltd. to sequester carbon at a cost of $26 per tonne compared to the $50 current price of carbon in the country.
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CALGARY, AB, May 3, 2021 /CNW/ - Advantage Oil & Gas Ltd ( Advantage ) is pleased to announce that its subsidiary Entropy Inc. ( Entropy or the Corporation ) has signed a Technology Development and Funding Agreement (the Agreement ) with the University of Regina s Clean Energy Technologies Research Institute ( CETRI ), which secures exclusive ownership of a new generation of carbon capture solvents.
Highlights of the Agreement include:
Entropy has secured exclusive rights to a novel solvent designed specifically for Entropy s post-combustion carbon capture and storage ( CCS ) systems. This solvent technology is the product of over 25 years of research, and provides large cyclic capacity, high stability, and low operational issues. CETRI test results to date show a step-change reduction in energy requirements and circulation rates compared to all solvents that are currently available.
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