Research UpdateDundee Securities has a good research update on the EE website. Maintain target at $2.40, production from Q3 in line with expectations, expect exit rate for Q4 to be more than double Q3 and approach 2500 boed. Exciting prospects with new Wabumun discovery. All very exciting.
EE is doing extremely well in a negative small cap resource market environment.
For comparative purposes only, look at the recent fate of other juniors. Seaview, for example, recently had its Canaccord target cut from $2.30 to $1.45. Analysts were dismayed in its oil production being up only 28 boed to 208 boed, and they adjusted average production targets for 2011 to 445 boed and 2012 to 775 boed. And to make matters worse, it has a ton of debt. There are so many examples like this out there.......us EE shareholders have been most fortunate.