OTCPK:PDPYF - Post by User
Post by
Tobuyornoton Nov 14, 2013 9:49am
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Post# 21905183
Ccord crys Giddyup!
Ccord crys Giddyup!
Painted Pony Petroleum* (PPY : TSX : $6.79)
Net Change: -0.03, % Change: -0.44%, Volume: 592,793
Perfectly positioned. Painted Pony released Q3 results that were generally in line with expectations, as production for the quarter had been pre-released. With the company releasing a comprehensive operational update last week PPY's Q3 release was fairly uneventful, although production updates from recent Montney horizontals continue to impress. More important to Canaccord Genuity Oil & Gas Analyst Anthony Petrucci's thesis on PPY is recent industry activity in the NE B.C. Montney, and its read-through implications for PPY. Specifically, Petrucci believes the sale price of Talisman's (TLM) Montney assets at Cypress and Farrell last week implies a price of $10.00+ for PPY's stock. Additionally, Petrucci thinks the sale itself, along with the sale of a portion of Enerplus' (ERF) Montney assets and other LNG related announcements (CNOOC (CEO) securing land on the West Coast, B.C. government's upcoming announcement on an LNG export tax), all point to increased levels of enthusiasm and
activity surrounding LNG projects in B.C. In Petrucci's view, PPY is perfectly positioned to capitalize on the LNG trend, and as a virtual pure-play on NE B.C. Montney, gives investors the greatest leverage to increased B.C. LNG activity within the E&P group.