Spartan Delta Corp T.SDE

Alternate Symbol(s): DALXF

Energy Advertising Agencies Oil & Gas E&P

Spartan Delta Corp. is a Canada-based energy company. The Company is engaged in exploration, development and production of crude oil and natural gas properties in western Canada. The Company is focused on acquiring a diversified portfolio of assets. It has a portfolio of production and development opportunities in the Deep Basin of Alberta. It is focused on the execution of the Company's organic drilling program, delivering operational synergies.

TSX:SDE - Post by User

Spartan Delta Corp

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Post by retiredcfon May 16, 2022 7:13am

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Post# 34685649

Additional Assessment

I would like your opinion of Spartan Delta. Do you think their debt is a concern and does this company keep up with its ~$2 Billion peers in the energy sector?

SDE is up 145% in the past year yet is still very cheap on valuation. We think it is performing well vs peers, certainly. Debt of $409M is now barely 1X cash flow. With new commodity prices, we would not consider debt to be a limiting factor here at all now. Insiders own 9%, GMT Capital owns 21%. It released its quarter yesterday showing more than 100% production growth and record cash flow. On a forward basis, debt is 0.6X cash flow (assuming constant commodity prices). Things look very solid here overall. (5iResearch)

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