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Logan Energy Corp V.LGN

Alternate Symbol(s):  LOECF

Logan Energy Corp is a Canada-based company, which is engaged in the acquisition, production and exploration of oil and natural gas. The Company is focused in the Pouce Coupe and Simonette areas of north-west Alberta on the Montney resource trend, and in the Flatrock area of north-east British Columbia. The Company has approximately 193,000 net acres of working interest, 95% Montney Crown land across three properties (Simonette, Pouce Coupe and Flatrock). The Simonette property has approximately 51 operated Montney wells primarily drilled in the gas condensate window. The Pouce Coupe property has seven wells. The Pouce Coupe asset spans the gas condensate to light oil window. The Flatrock property is undeveloped Montney acreage prospective for both gas condensate and oil development. The Company also owns a 50% working interest in its 120 million standard cubic feet per day (mmcf/d) gas plant.


TSXV:LGN - Post by User

Post by retiredcfon Oct 12, 2023 8:25am
300 Views
Post# 35680160

Stifel Initiate Coverage

Stifel Initiate Coverage

Stifel’s Cody Kwong initiated coverage of Logan Energy Corp. (LGN-X) with a “buy” rating and $1.50 target. The average is $1.61.

“As a part of the successful value maximization exercise at Spartan Delta, the principals have spun out a pure play Montney vehicle dubbed Logan Energy,” said Mr. Kwong. “This screens as a differentiated investment opportunity within our coverage universe given its focus on growth instead of the recently popular return of capital business plans that have emerged over the past few years. Between a hot M&A market within the Montney, Management’s proven track record of being commercial, armed with over $100-million of cash in the bank for organic and inorganic growth, and a brimming catalog of exciting drilling locations, we believe Logan Energy will be a name of focus for both investors and inventory-hungry peers.”

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