Point Loma Resources Ltd.
FMTNF
Other OTC0.01
USD
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Return %
Stock
S&P500
1Y
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19.01
3Y
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65.49
5Y
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72.21
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
- IPO Date
- Jan 26, 2012
- Similar Companies
- Business
- Point Loma Resources Ltd. engages in the acquisition, exploration, development, and production of conventional and unconventional oil and natural gas reserves primarily in west central Alberta, Canada. The company holds over 160,000 net acres across key resource formations including Mannville (Upper and Lower), Banff, Nordegg, and Duvernay shale. Its main product offerings consist of conventional oil and natural gas production, with an operational focus on horizontal multi-stage fracking technology and secondary recovery opportunities to enhance asset value. Point Loma also manages a substantial inventory of oil prospects supporting ongoing exploration and development activities. Founded in Calgary, Alberta, Point Loma develops and operates its petroleum assets within Western Canada, targeting opportunities to expand reserves and production capacity. Recently, the company has undertaken significant operational changes including the sale of a majority interest in its Wizard Lake property to secured creditors in 2020, while retaining a working interest and continuing as operator. In 2019, Point Loma announced a successful new oil pool discovery at its Rex oil pool near the Wizard Lake area, which substantially increased its production potential beyond 300 barrels of oil per day net. The company also completed acquisitions that boosted production above 1,000 barrels of oil equivalent per day weighted with about 30 percent oil and natural gas liquids. These developments demonstrate a strategic shift toward maximizing the value of both conventional and unconventional reservoirs through horizontal drilling and enhanced recovery methods. The company operates primarily in Alberta's oil and gas sector, serving markets that require oil and natural gas resources. Point Loma’s strategy emphasizes drilling, developing, and acquiring accretive assets with advanced fracking technologies. It remains publicly traded and headquartered in Calgary, continuing its focus on prudently managing and expanding its asset base with technology-driven extraction processes. The company has also adapted its management structure with director resignations and board changes aligned with ongoing corporate developments. Overall, Point Loma Resources Ltd. functions as an oil and gas exploration and development company with a portfolio centered on Western Canada's energy resources, emphasizing technological application in fracking and secondary recovery to optimize production and reserves growth. The company's recent major activities surrounding asset sales, new discoveries, and operational expansions are pivotal to its current corporate trajectory and resource development strategy.