TD report re: Reserves being released by Parex today.
Reserves: Year-end reserve estimates (together with operations updates) are much more likely than financial results to provide material catalysts over the coming weeks. In many cases, year-end reserves are also expected to be released sooner than financial results. Exhibit 4 summarizes our estimates for 2P net before royalty (NBR) reserves and year-over-year changes. Companies that we expect to report significant (>10%) 2P reserves growth include:
BNK Petroleum Inc. (BKX-T) — Having divested over 95% of all its reserves as at year-end 2012 in early 2013, the company has reported significant success drilling its Caney Shale Oil play in Oklahoma.
Gran Tierra Energy Inc. (GTE-T) because of the recently reported reserve additions at its Bretana field, plus drilling success at the Mayalito and Moqueta fields in Colombia.
Parex Resources Inc. (PXT-T) because of a 50% increase previously reported in a mid-year update and drilling success that continued through in H2/13 in Colombia.