Bullboard - Stock Discussion Forum Logan Energy Corp V.LGN

Alternate Symbol(s): LOECF

Energy Oil & Gas E&P

Logan Energy Corp. is a Canadian energy company. The Company is engaged in exploration, development and production of crude oil and natural gas properties, focused on the Simonette and Pouce Coupe areas of northwest Alberta and in the Flatrock area of northeastern British Columbia, and has recently established a position within the greater Kaybob Duverney oil play with assets in the North... see more

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TSXV:LGN - Post Discussion

Logan Energy Corp > Another View

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Post by retiredcf on Mar 23, 2024 1:00pm

Another View

Oil and gas prices are on the rise with almost all E&P companies in the field, however, LGN continues to drift lower. Why?

As a spin out (from Spartan) many shareholders got LGN shares and did not know the company well, and may have sold their 'free' shares. It also raised money which may have pressured shares. But its decline this year is not really that out of line with the sector. Operationally, it is doing fine, with production up 39%. Net backs rose 116%. The balance sheet is strong and cash flow solid. There are cheaper stocks (it is 6X cash flow) in the sector, and its small size may hold off big investors. But we would still consider it of decent quality for a mid cap play. (5iResearch)

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