TSXV:CART.H - Post by User
Comment by
TheRock07on Nov 17, 2016 7:53pm
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Post# 25478275
RE:2017 Will Be record Year
RE:2017 Will Be record Year
As I reported earlier, KUB had record cash inflows from production and its investment in Eastern Ukraine equity ownership of $14.5 million US in 2013.
Converted to CAD , annual revenues was just below $20 million in canadian loonies.
KUB lost $3 million US in 2013.
At that point, KUB was trading in the 40 cent to 45 cent range ( also in loonies ).
In the first 9 months of 2016, KUB already has revenues of $18.1 million cad and net earnings of $5.9 million cad.
At least another $5.5 million will be added in Q4, to bring 2016 revenues to a new record in the $24 million range.
Net earnings should be in the $7.5 million range or about $0.025 per share
Remember, the RK field was suspended in Q2 and Q3 due to termination of a gas blending contract.
This will not be the case in Q1/17, as KUB have acquired and tested a NRU unit and two compressors are en route to resume RK production in early Q1/17.
Production from that field in 2017 ,should be in the $7-$ 10 million range, depending on the push of the compressor units.
With at least 2 new wells,and various workovers and recompletions along with another 5 % WI in eastern Ukraine, KUB has an excellent chance exceeding $35 million in sales in 2017.
So, with record sales and earnings in 2016, and a much larger record year almost certain for 2017, KUB has an excellent chance of regaining its former highs of $0.40 to $0.45 which it reached in 2013..