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 >
Macquarie Raises Target on TGL
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DAVID POPOWICH, Macquarie Research
(09/14/2010)
"TransGlobe provided an update on Q310 field activities. The Nukhul tight oil play at West Gharib (Egypt) continues to make headlines, with the East Arta #4 exploration well reportedly producing at a post-frac rate of 500–600bbl/d. This represents a new field Nukhul discovery for TransGlobe, and significantly derisks the Nukhul play to the east of Arta. TransGlobe will drill two step-out appraisal wells of this discovery beginning in October/November. . .the initial production rate at East Arta #4 appears promising. TransGlobe is now producing Nukhul oil from frac'd vertical wells at Arta, East Arta and Hoshia, and is, currently, drilling Nukhul exploration wells at North Hoshia and West Hoshia. Clearly, this play has the potential to be much bigger than the 36mmb of OOIP that the company has defined at Arta alone. TransGlobe remains on track to report significant reserve growth from its core assets in 2010, and significant exploration wells at Nuqra and in Yemen are still to come by year-end. We are increasing our target price by CAD$0.50 to CAD$10.50, given derisking of the Nukhul at East Arta. TransGlobe remains our top pick among small-cap international E&Ps." |
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More Experts
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