RE:see the price target from national bank is still 9.00Lycos recently increased their 2024 capex budget from $61M to $66M. They plan to use that money to drill 3 additional wells in Saskatchewan. No new financing is needed. The increased price of oil combined with excellent drilling results means cash flow is more than enough to cover capex.
A royalty reduction is like the Sask government giving money away. Wise of Lycos to take advantage of this program.