Tamarack Valley Energy Ltd T.TVE

RBC says 2024 budget underwhelming

[Seppelt]

(MT Newswires) -- RBC Capital Markets said Monday that Tamarack Valley Energy Ltd. (TVE.TO)'s 2024 budget was underwhelming given the company's mixed messaging including in its dual budget.

 

RBC also cited Tamarack's lighter-than-anticipated production outlook.

According to RBC, Tamarack's operational execution has been challenged for the majority of 2023, which would weigh on investor sentiment for the foreseeable future.

"While management remains focused on improving operational sustainability, we believe aggressively entering early-stage resource plays has proven more challenging to operate and continues to command higher non-productive capital spend than initially anticipated," RBC said.

[egee]

RBC, send out negative remarks  but not too negative, start accumulating when the s/p gets beaten down. oooh look the management team did better than thought, prices get torqued upwards typical bank play.   Seen this playbook before

[riski]

I haven't owned this for years, but I thought I would stop in to say that Brian has always done this. I writes conservative budgets. He likes to underpromise and over deliver.  So the market is never disappointed at the end of the year, but it is when the budget comes out. The problem is that lots can happen by the time the final 2024 numbers are tallied and a lot of share price momentum

[Seppelt]

Regardless of RBC comments which are published several days after the budget announcement and reflect the knowledge of the fact that share prices have been declining since. Anyhow, everything has a price. I added more today in two trades, the last at 2.88.  Re: "lighter-than-anticipated production outlook" one has to take into account the recent sale of 7,000 boed of Cardium

[Seppelt]

More about the "disappointing" production outlook. In its October 19 press release announcing the sale of 7,000 boe/d Cardium assets the company said: "Looking ahead, the sale of the Assets will reduce Tamarack’s 2024 production outlook by approximately 6,000 boe/d" So why is there such disagreement today after the actual budget announced? I hope it's all priced in by

[himmler]

Sry..but your dead  wrong on this company under promising and over delivering.Its actually the complete opposite,and that's according to a few brokers I spoke to. And that's not listening to TV media pumpers and dumpers like Eric nutall...That guy has been doing that scam and duping people for years. The fact is whenever a company promises something and crooks like Eric pump the