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 >
Global Hunter Securities Raises Target on EXXI
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MICHAEL BODINO, Global Hunter Securities
(02/07/2011)
"EXXI completed a transition quarter that included a major acquisition and myriad financings. Production came in light but EBITDA came in higher than expected. All eyes are on the ultra deep. Encouraging data from Davy Jones, hopefully, leads to more good well news over the next couple months. We are maintaining our Accumulate rating but raising our 12-month price target from $33–$36 predicated on our FY11 proved NAV of $36.63/share, 6x calendar 2011 EBITDA and 5.3x calendar 2012 EBITDA. Energy XXI released fiscal Q211 financial results and reported EPS, CFPS and EBITDA of $(0.02), $0.73, and $107.5 million, falling below our EPS estimate of $0.04 and CFPS estimate of $1.21 but exceeding our EBITDA estimate $97.5M as a result of lower-than-projected operating costs. EPS was noisy due to a number of transactions. Production fell 9.1% shy of our estimate of 29,383 boe/d, coming in at 29,383 boe/d, due to timing of closing of the Exxon Mobil transaction and disruptions caused by inclement weather. Revenues came in just 4% below our estimates due to better-realized prices. Lower-than-expected lease operating costs and production taxes offset the production shortfall during the quarter." |
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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 >