Kelt Exploration Ltd T.KEL

Scotia Bank upgrade April 12 - Kelt 9.50 BUY

[MyHoneyPot]

So Scotial bank sees Kelt at $9.50, pretty well 50% up from here.

The 100 million dollar question, is what is Kelt going to do in 2025 when its CF exceed 500 million dollars and it is producing 50,000 Plus boe/day and with the way oil prices are going all with zero debt?

Currently Dec 31, 2023 NAV was $22.75 assume a 20% lift in 2024 and NAV will be around $27.30 a share, not to shabby. 

There is only so much Mike Rose can do when AECO is  $1.40 and there is only so much Murray Edwards can move a company with a 119 billion dollar market cap with the shares trading at $110 dollars. 

But there is a lot David Wilson can do with a company with zero debt, a massive montney acerage, and exploding opportunity in the charlie lake, with a massive 300 section acerage in the BC montney that is waiting for the market to deiver into. 

Really with no debt, and a boat load of reserves, it is a safe conservation play managed by one one of the super hero's of the industry. 

Kelt is to cheap here. 

It is a long term hold in my portfolio. 

IMHO

[PabloLafortune]

The 2025 natural gas strip (HH) is better than it was and much much better than current prices. So depending on what AECO to basis is at right now, there may be an opportunity to hedge some. For a play like Pouce Coupe west specifically, that could make sense as it would allow Kelt to plan on bringing wells online there late '24/early '25 knowing the first year of production essentially