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 >
Salman Partners Initiates Coverage of TGL
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GORDON CURRIE, Salman Partners
(05/03/2010)
"TransGlobe Energy is a Canadian company, but has chosen to focus exclusively on North Africa and the Middle East where there is significantly greater exploration potential. . .at the same time, TransGlobe is not drilling expensive, wildcat exploratory wells, but conducting a balanced drilling program, featuring low-risk development projects while exposing the company to exploratory prospects that have the potential to increase reserves by more than 50% this year alone. At this point, TransGlobe operates only in Egypt and Yemen, and although there is some political risk in both countries, they have long histories of stable fiscal regimes and uninterrupted oil and gas operations. The company has traditionally financed its growth primarily by reinvesting cash flow. It issues equity sparingly and is cautious about the use of debt. We are initiating coverage of TransGlobe with a US$9.00 target price, which is based on a 7.0x multiple of forecast cash flow. That represents a 14% premium to Net Asset Value, but we think a premium is justified by the company's growth potential, including the first quarter discovery at East Ghazalat." |
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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 >