Ladenburg Thalman Initiates Coverage of USEG

NOEL PARKS, Ladenburg Thalman (04/13/2011)
"We are initiating coverage of U.S. Energy Corp. (USEG) with a BUY rating and an $8 price target, which has proved reserves of 79% crude oil and a substantial Bakken position for a company its size—23,000 total net acres that are prospective for the Bakken; these include USEG's 5,500 net acre interest in Brigham's highly successful Rough Rider project, plus another 6,200 net acres nearby that USEG is earning from a privately held partner, Zavanna, LLC. USEG also leased another 11,600 undeveloped net acres in an extensional part of the play in northeastern Montana on which it plans to operate an exploratory program. . .[forming a] solid outlook for 2011 growth."

 PRINT THIS PAGE   EMAIL THIS PAGE

Under SEC rules, analysts are required to disclose their interest in securities that they cover. We strongly encourage you to contact them to understand any potential conflicts of interest they may have.

Related Quotes: