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 >
RE: Heavy Oil Drum Beats On
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LEON KNIGHT, Macquarie Equities Research
(05/10/2010)
"Rock reported 1Q10 production of 3,524boe/d versus our 3,637boe/d forecast, largely on account of lower gas volumes. CFPS of C$0.22 was below our C$0.24 on account of slightly lower volumes and higher unit opex. The company's production has increased to ~3.7mboe/d through break-up with liquids weighting now through 65%. The company's bank lines witnessed a small increase to C$50m (from C$47m) at its most recent semi-annual review. The company maintains a strong balance sheet with an estimated 2010 D/CF of 0.9x vs. the group average of 1.4x. With strong cash-flow generation from its heavy oil business, the company is uniquely positioned to deliver above-average production per-share growth through free cash flow. We also anticipate further definition of its tight gas potential at Elmworth will continue to gain momentum through the summer. Additionally, we see further potential catalysts emerging through clearing prices of several large heavy oil packages currently in the market. We reiterate our Outperform recommendation and we are adding Rock to our Global Oil & Gas Focus List." |
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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 >
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"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 >