The Energy Report
Notable Quotes
"With the LOI signed, we urge investors to bolster positions in FCU." (12/22/15) Fission Uranium Corp. - David Sadowski, Raymond James More >
"FCU is taking the right steps regardless of whether PLS is ultimately acquired or developed into a mine." (12/22/15) Fission Uranium Corp. - Heiko Ihle, Rodman & Renshaw More >
"I am quite excited about POE in 2016." (12/16/15) Pan Orient Energy Corp. - Chen Lin, What Is Chen Buying? What Is Chen Selling? More >
"BKX's Oklahoma asset has significant value." (12/16/15) BNK Petroleum Inc. - Michael Charlton, iA Securities More >
"EFR is one of the few companies in a position to write long-term sales contracts and deliver into them at several times its current production rate." (12/17/15) Energy Fuels Inc. - The Gold Report Interview with Eric Coffin More >
TGL: Multi-Well Drill Program in 2010?
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Weekly Energy Review (12/03/2009)
"On November 25, TransGlobe announced corporate guidance for 2010 capital expenditures and production. Company spending is estimated at US$46.1 million with 80% focused on development and 20% on exploration. The company plans to drill 20 firm wells and has eight contingent wells in Egypt and Yemen. TransGlobe management expects that production will average 9,300 bbl/d to 9,700 bbl/d for the year. This is the first announcement of what the company's 2010 program will look like. Next year has more exploration in Yemen, but the company's focus remains on exploration and development in Egypt. While we have a minor decrease to our production and cash flow estimates for next year, on review, we note that the company's plans for 2010 are more positive than our previous assumptions. We include risked production additions from drilling success in Egypt, but actual results could see the company exit 2010 at better than 10,000 bbl/d. Our target price of C$4.50 and BUY recommendation remain unchanged, despite modest adjustments to our 2010 estimates. Our target price continues to be based on a 5.5x multiple of 2010E debt-adjusted cash flow per share. The next catalyst will be the test results of the horizontal well drilled on the Arta field in Egypt. Success on this well could set up a multi-well development drilling program for 2010, exposing the company to a potential of an incremental 5 million barrels of oil reserves." |
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More Experts
"FCU's deal with CGN helps to financially and technically derisk PLS." (12/21/15) Fission Uranium Corp. - David Talbot, More >
"NXE is our top pick across all commodities." (12/22/15) NexGen Energy Ltd. - The Energy Report Interview with Rob Chang More >
"FCU will continue to explore and add pounds to what is already a world-class project." (12/22/15) Fission Uranium Corp. - The Energy Report Interview with Rob Chang More >
"EFR is well positioned to benefit from higher uranium prices." (12/22/15) Energy Fuels Inc. - The Energy Report Interview with Rob Chang More >
"FCU intends to sell $82M or 19.9% of the company to CGN Mining." (12/22/15) Fission Uranium Corp. - Jeb Handwerger, Gold Stock Trades More >