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Re: Scotia comments on Ross' update. No change to SP rating or C$2.75 target This was the same thoughts I had when I read the update. Tell us about the production from both CA and Boraq 5 ????? quote>>>>>>>>>>>. While overall production for the quarter came in below our forecast due to mechanical issues and macro-economic factors we look ahead for production data from TransGlobe’s Canadian program as the next material catalyst to watch for. We reiterate our Sector Perform rating on TransGlobe and our one-year target price of C$2.75 based on our revised Risked NAVPS of C$2.72 (previously C$2.76). Our revised NAV reflects actual Q3 production / sales that has moderately lowered our 2017 estimate from 16,193 boe/d to 15,872 boe/d. >>>>> I am hoping for well above the 149boed also why didn't Ross give us some background on this.... >>>>>>>> Three hz Cardium oil wells were drilled (Jul/Aug) and completed (Sep/Oct) on the Harmattan assets making them the first wells to be drilled in the area since 2015. Initial flow rates have not been released; however, with 40-stage (15 t/stage) fracs coming in >2x that of previous wells from the area (18-stages) we anticipate a production response significantly above the 140-150 boe/d range of historical wells. Each well is expected to have been drilled, completed, and tied in at a total cost of C$2.2M, materially below the C$2.7M forecasted, making the economics of the play more appealing. The wells are set to be put on production during October. >>>>>> |
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Msg # | Subject | Author | Recs | Date Posted |
1512 | Re: Scotia comments on Ross' update. No change to SP rating or C$2.75 target | Public_Heel | 1 | 10/17/2017 4:17:54 PM |