GREY:WFREF - Post by User
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retiredcfon Sep 10, 2013 10:37am
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Rest of Extract
Rest of Extract I should have read the entire newletter first. Found this later on. GLTA
When we catch up with Canaccord Genuity Oil & Gas Analyst Anthony Petrucci to get his opinion on what one of our contacts told us above in the “What To Do” commentary, he tells us he’s added… Long Run Exploration (LRE-t) to the CG Canadian Focus List.
His bullish recommendation reflects his view that LRE’s operational success, production growth and upside potential are not currently reflected in its stock price, with the company trading at a significant discount to its peer group. LRE is showing significant operational success following the business combination of Westfire and Guide late last year, as reflected in well results and production per share growth. LRE holds an impressive 750,000 net acres of undeveloped land in western Canada. In addition to its core Montney and Viking plays, the company is actively exploring for additional targets. Given the recent move by a handful of junior E&P’s, Petrucci believes it is natural for LRE to explore the option of converting to a dividend paying vehicle. His analysis suggests that LRE could live within cash flow in 2014E, while replacing production and paying a yield north of 8%.