# PERPETUAL ENERGY INC. REPORTS YEAR-END 2022 FINANCIAL AND OPERATING RESULTS AND RESERVES AND PROVIDES OPERATIONS UPDATE AND 2023 GUIDANCE Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/perpetual-energy-inc-reports-year-end-2022-financial-and-operating-results-and-r--27540091-d150-42cb-9f86-4e1e97f1ff07 Original source: https://money.tmx.com/en/quote/PMT/news/5721828194817991/perpetual-energy-inc-reports-year-end-2022-financial-and-operating-results-and-r Publisher: tmx Original announcement: 2023-03-03T01:19:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: PERPETUAL ENERGY INC. - Ticker: PMT - Exchange: TSX - Region: Unavailable - Primary commodity: Oil - Secondary commodities: Natural gas, Ngl - Document categories: Production, Resource update - Extracted: 2026-09-14 19:11:37 UTC Narrative sentiment: 0.70 · Bullish ## Minestarters Atlas summary Perpetual Energy Inc. reported strong year-end 2022 financial and operating results, including a 20% increase in average daily production to 6,486 boe/d and a 189% increase in adjusted funds flow to $48.5 million. The company's proved plus probable reserves remained stable at 31.6 MMboe, with the net present value of these reserves increasing significantly to $302.0 million. Perpetual also provided 2023 guidance, forecasting stable production of 6,400-6,600 boe/d and exploration and development capital expenditures of $25-32 million. Reasoning: Perpetual Energy Inc. reported strong operational and financial performance for 2022, including increased production and adjusted funds flow, and a substantial increase in the value of its reserves, alongside positive 2023 guidance. - Positive factor: Increased average daily production by 20% in 2022 - Positive factor: Adjusted funds flow increased by 189% in 2022 - Positive factor: Net present value of proved plus probable reserves increased significantly - Positive factor: Net debt decreased by 4% year-over-year - Positive factor: Successful drilling programs contributed to reserve additions - Negative factor: Net income decreased by 65% in 2022 compared to 2021 - Negative factor: Reliance on non-GAAP measures for key performance indicators Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 24 ## Classification and evidence **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: Proved plus probable reserves nominally increased by 0.4 Mboe year-over-year, and the NPV of reserves increased significantly from $230.5 million to $302.0 million. Evidence · text > Reserve additions offset production resulting in a nominal increase in total Company proved plus probable reserves year-over-year of 0.4 Mboe. **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The year-end 2022 reserves were reported by the independent engineering firm McDaniel and Associates Consultants Ltd. Evidence · text > independent engineering firm McDaniel and Associates Consultants Ltd. **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The reserve data provided in this news release presents disclosure required under NI 51-101, which is the Canadian standard for oil and gas reserves. Evidence · text > The reserve data provided in this news release presents only a portion of the disclosure required under NI 51-101. **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document provides a summary of the Company's year-end 2022 reserves as reported by an independent engineering firm. Evidence · text > summary of the Company's year-end 2022 reserves ## Extracted facts Stored fact records: 0. Some facts used in scoring do not have a stored record. No stored fact records are available for this extraction. ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.