WH Ireland updated target price - raised to 60.6 penceWH Ireland upgrades its Target price to 60.6p
Significant increase to fair value estimate and first 2023 financial projections
We are updating our financial forecasts, providing our first financial forecasts for 2023, and increasing our fair value estimate for i3 Energy to 60.6p, up from 49.8p, to reflect both stronger production and higher commodity prices.
Production outlook: We are increasing our production estimate for 2022 to 21,077 boe/d from 20,343 boe/d on the company’s increased (now $US 97M) Canadian capex budget. We are also providing our first 2023 production estimate, 23,762 boe/d, which assumes that the company duplicates our assumed 2022 drilling programme next year.
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