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 >
EXXI: Very Good News All Around
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DUANE GRUBERT, Susquehanna Financial Group
(09/04/2009)
"VERY GOOD NEWS ALL AROUND!: EXXI's reserves are up, production is flat and expected to stay flat, debt is down $22 million from the previous quarter, a material $53 million insurance settlement will further reduce debt, and a new partner improves ongoing exploration project economics. We remain enthusiastic on both EXXI equity and debt securities. We think bears will have trouble finding any fodder in the annual report. FLASH!: Four hours following EXXI's earnings release in London, Company announced a debt exchange. We see accepting the exchange as a rational choice, but depending on a holder's situation, we also believe holding the original Notes going forward also looks good, as we expect the Notes to continue to trade up towards parity with the group, in any case. We currently assess that 'parity' would imply a trading level for the Notes up of to around 85 (vs. recent trades around 72.5). $3 as an interim step. If the market were to pay full value for Netherland Sewell's likely conservative estimate of contingent exploration reserves based on around $5.50 normalized gas pricing, we would expect EXXI shares to trade up to around $3 per share. We expect more exploration success in additional prospects and zones, and maintain our $6 per share one-year target price. The market is currently paying for no exploration success in our view." |
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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 >