OTCPK:ARNBF - Post by User
Post by
templetoothon Mar 01, 2011 4:23pm
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Scotia coverage started
Scotia coverage startedScotia started coverage today on ARN, Second Wave, Pinecrest, Equal and a few others.
One year target of $7 which is only slightly more modest than the target for SCS. For ARN they see cash flow of 65 and 90 cents in 2011 & 2012 on production of 4100 and 5500 b/d. Harruuummmph, cough, sputter!
On a more optimistic note, Scotia estimates a potential take over price of $10+. They note that with waterflood recoveries can reach 40% and that ARN has a massive drillng inventory.
Had to buy more, which probably means that peace, prosperity and goodwill is about to break out in the Middle East and oil re-visit the low 60's.