Windspeaker Radio speaks with Joseph Dion of Frog Lake Energy Resources Corp.
Frog Lake Energy Resources Corp.
Suite 800, 550 – 11 Avenue S.W.
Calgary, Alberta T2R 1M7
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Back in the year 2000, Frog Lake Energy Resources Corp. had no assets, no production, no cash flow and no staff. By 2013, corporate production succeeded over 3,000 barrels of oil per day, free cash flow and over $400 million in debt free.
Joseph Dion has been in the oil and gas sector 40-plus years. When he was chief of Kehewin First Nation he watched the oil and gas sector expand into Cold Lake, Alta. He then was the founding chairman of the Indian Resource Council of Canada. Later, he became a consultant focusing on the oil and gas sector, and in the past 15 years he’s been managing Frog Lake Energy as the CEO.
“A lot of the industry folks were not too keen about First Nations going into the oil business. They liked the idea of just paying us royalties. Then they would take all the profits. So we decided to get in as a company. We would take up the leases ourselves. And permits and leases from the land. And we’d farm it out. Just like all companies do that.”
When prices took off in early 2000, things really took off for Frog Lake Energy.
“We got all kinds of production. We’ve got partnerships. It’s been great.”
Now the prices in the sector are languishing, he said. When the prices perk up, there will be more activity.
The biggest battle right now is getting to tidewater to move product to Asia, and Frog Lake Energy “has been the champion. Working with governments and industry.”