Altura reported its 2015 year-end reserves, essentially presenting a conservative book given only 1 drill in late 2015 and an election to remove previously booked undeveloped locations by its predecessor. Within our NAV methodology, we identify Altura as trading at one of the most attracve P/CNAV valuations within its peer group, a positive aspect in our view, particularly so in light of a NAV valuation comprised of a material component of cash exiting 2015. With no changes to our 2016e or 2017e ....
15 Mar 2016
Announces 2015 Year-End Reserves
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Announces 2015 Year-End Reserves
Altura reported its 2015 year-end reserves, essentially presenting a conservative book given only 1 drill in late 2015 and an election to remove previously booked undeveloped locations by its predecessor. Within our NAV methodology, we identify Altura as trading at one of the most attracve P/CNAV valuations within its peer group, a positive aspect in our view, particularly so in light of a NAV valuation comprised of a material component of cash exiting 2015. With no changes to our 2016e or 2017e ....