Brief: Headwater Exploration - Board Approved 2021 Capital Budget Of $85 - $90 Million Designed To Provide Dec 2020 To Q4 Average 2021 Production Growth Of About 125%

Headwater Exploration

14/12/2020 13:15

Dec 14 (Reuters) - Headwater Exploration Inc  HWX.TO :
    * HEADWATER EXPLORATION - BOARD APPROVED 2021 CAPITAL BUDGET
OF
$85 - $90 MILLION DESIGNED TO PROVIDE DEC 2020 TO Q4 AVERAGE
2021 PRODUCTION GROWTH OF ABOUT 125%
    * HEADWATER EXPLORATION - APPROVED BUDGET IS EXPECTED TO
LEAVE CO
WITH WORKING CAPITAL SURPLUS OF ABOUT $45 MILLION AT END OF 2021
    * HEADWATER EXPLORATION - COMBINED WITH STRONG CAPITAL
EFFICIENCIES OF CLEARWATER PLAY, EXPECT TO HAVE MEANINGFUL
STEADY FREE CASHFLOW IN 2023 & BEYOND

Source text for Eikon:  ID:nCNWLyD66a 
Further company coverage:  HWX.TO 

 ((Reuters.Briefs@thomsonreuters.com;))