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  5. HWX: Peter; Could you update your comments and would you be a buyer of the issue? [Headwater Exploration Inc.]
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Q: Peter; Could you update your comments and would you be a buyer of the issue?Thanks. Rod

Asked by Rodney on September 30, 2021
5i Research Answer:

Share liquidity will increase, and the 'overhang' of CVE largely disappears (it will still own 5M shares). The balance sheet is clean and EPS is expected to more than double next year. Of course, the sector has seen a huge recovery as well. The last quarter was better than expected and the recent acquisition is going well. Insiders have been net buyers this year. We would be comfortable buying.