Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Spartan Delta Corp T.SDE

Alternate Symbol(s):  DALXF

Spartan Delta Corp. is a Canada-based energy company. The Company is engaged in exploration, development and production of crude oil and natural gas properties in western Canada. The Company has a portfolio of production and development opportunities in the Deep Basin and the Duvernay. It is focused on the execution of the Company’s organic drilling program in the Deep Basin, delivering operational synergies. It is also focused on growing and developing its Duvernay asset.


TSX:SDE - Post by User

Comment by GuidoSan1on Jan 31, 2022 12:40pm
152 Views
Post# 34379437

RE:RE:RE:Scotia calls for a FCF Beat in Q4 - Graphs and detail

RE:RE:RE:Scotia calls for a FCF Beat in Q4 - Graphs and detailGood day Gents, appreciate the info and comments. So for chits and giggles here is a sister company comparison for another speculative view on SDE price potential, the numbers are eerily very similar.

Paramount vs Spartan (including velvet) (Other similars include PIPE, NVA and PEY)
Important Comparable Hilites:
Current share price                           POU = 24.91         SDE = 7.92
Q3/21 Comparison
Shares outstanding                           POU = 133K          SDE = 175k
Net Debt (Debt + Net W/C)               POU = 579M         SDE = 493M
EBITDA ex. hedging (Q2/21)            POU = 149,962      SDE = 131,750
Production (Q2/21)                           POU = 79,995        SDE = 70,000
Production Split Gas/Liquids            POU = 57/43          SDE = 59/41
Reserves (2020)                               POU = 632,025      SDE = 525,600
PV10 (2020)                                     POU = 3,649,000   SDE = 3,548,000 

Metrics
Monetary Debt/EBITDA                  POU = 0.97            SDE = 1.02
** Monetary EV per flowing BOE    POE = 41,684        SDE = 24,926
*Monetary EV/EBITDA                    POU = 5.6              SDE = 3.3
*Monetary EV per BOE reserve      POU = 5.276          SDE = 3.320

Speculative comments IMO:
The market still has not fully figured out how to evaluate SDE, a clearer pic should be realized with Q4/year end financials including velvet #'s. Establishing a reasonable div. may also help accelerate share value.

I cannot speak to POU remaining hedges while SDE sees 0 oil hedges by Mar 2022 and currently 30% NG hedges reduced to 10% by August 2022 to end early 2023.

Conclusion IMO:
Since SDE continues to track OIL it appears share value will continue to rise as long as OIL remains at these levels or continues to rise.
Still seriously undervalued by financial comparables against it's peers, as example against POU, the speculative share value of SDE is currently more like 17.50 area IMO. 
Keep an eye to EV per flowing boe going forward by qtr.  
 
Technicals IMO:
Completion of long term inverted triangle wave pattern positive indicator for me for next wave of share appreciation.
Resistance areas, top end of current rising channel resistance around the 8.25 area a push thru that on Q4 sees nothing in the way to the 11.00 area and a continuation from 2013/2014 of reorganization and pre asset acquisitons etc.

Looking at continued "winner winner wagu chicken dinner" lol, as long as commodity fundy's remain strong, cheers.
<< Previous
Bullboard Posts
Next >>