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 >
NVS: ANother Viking Year
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LUC MAGEAU, Raymond James
(02/04/2011)
"Novus released its 2011 capital program and production guidance yesterday. The initial $60M 2011 program includes 48 net Viking horizontal wells. Novus has established a sizeable Viking land base in Saskatchewan with a strong Viking well inventory that is expected to provide good production growth over the next several years. We are maintaining our Outperform rating and increasing our target price to $1.50. Analysis Novus has outlined a 100% oil-focused $60 mln 2011 capital program, the bulk of which will be spent on drilling 48 net horizontal Viking wells in west central Saskatchewan. Additionally, the company plans to drill 1 net Cardium well, 1 net Halfway oil well at Wembley, and 8 (7 net) wells which could include vertical test wells as well as some Bakken oil wells in southeast Saskatchewan. Novus expects this program will bring its average 2011 production to 2,400 boe/d and 2011 exit production to 3,000 boe/d, which they estimate will have an oil weighting of ~85%, up from its 2010 weighting of 62%. Novus currently has an undrawn credit facility of $28M and no net debt." |
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Under SEC rules, analysts are required to disclose their interest in securities that they cover. We strongly encourage you to contact them to understand any potential conflicts of interest they may have.
More Experts
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