OilVoice  Aug 17  Comment 
Opus Executive have published a study click on here and then find Is Oil well that concludes that two out of three companies on the Londonlisted oil gas sector have lost shareholders almost
OilVoice  Aug 11  Comment 
This morning there was an article in the FT which in turn touched on a research report by Opus Executive follow ldquoIs Oil wellrdquo recognising that good corporate governance can help the


Oilexco ( Oil on Toronto and London )

Analyst Update May 23rd,2008

The Magic Number 30

Joseph Schacter Raised his Forecast for Oilexco from $ 25 to $ 30

Based on 2008 production rising at year end to 45,000 BOE 2009 production at 65,000 BOE and 2010 production at 100,000 BOE NOTE : This assumes no further discoveries until 2010.

NOW - do the math.

100,000 BOE was estimated by Schacter to equal more than $14 of cash flow a share ( in past appearances ) based on oil at $80 a barrel.. You can estimate the cash flow when current prices equal more than a 50% improvement on that number. The stock selling price for junior oil producers is 4 to 5 times cash flow. Again Schacter's $30 target in twelve months is conservative measured against the potential for 2010 and against potential discoveries by that time.

Analysts Update May 14 , 2008

Oilexco’s quarterly results came out two days ago and now the analysts have started making their comments available.

Jamie Somerville who follows the Oilexco story for Genuity Capital found some good news and some bad news. The bad news was that production of 20,714 boe/d was below expectations of 21,500. Which as we said, is the bad news. However, for those looking for good news, he pointed out that operating costs of $8.43 boe, were significantly below expectations of $12.20 boe. The North Sea is traditionally thought of a high cost area of operation, so this is definitely a step in the right direction. Somerville adds, “We expect the company’s capital spending to increase over coming quarters as it aggressively pursues its exploration and development program for the year.”

TARGETS for Oilexco : Somerville has a target on Oilexco of $21.50. Fred Kozak of Canaccord updates his thoughts and maintains a target of $24.00 and of course Josef Schachter has a target of $25.00. It’s a story we will continue to follow, particularly for later this year when production numbers should increase dramatically.

and in another report Cannacord added :

The company’s stock, which has appreciated more than 25% in the past month, still has a few more near-term catalysts, including the maximization and upgrades of the Balmoral Floating Production Vessel, which was acquired before the end of 2007. The facility, prior to Oilexco’s production and upgrades was designed to approximately process 65,000 bbl/d of throughput, was only processing less than 5% of this capability. Also, the next exploration well (Moth prospect) is anticipated to being completed at the end of May. As well, there is further exploration drilling around the Shelley and Balmoral area on farm-in prospects as well as signing several agreement that should provided the company greater presence in the U.K. North Sea.

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki