We have reduced our target price to C$3.25/£1.60 per share, which is based on our revised risked NAV estimate of $3.22/£1.58 per share. Our target price implies a 2016e DACF multiple of 6.9x (previously 7.7x) based on FirstEnergy’s price deck and 11.9x on strip pricing. Our risked NAV estimate decreased 21% to C$3.22/£1.58 per share due to our reduced production outlook, slightly higher cost structure associated with reduced volumes, and the very conservative assumption that the third-party audi ....
08 Jan 2016
Bankers Petroleum Announces 4Q15 Operational Update, and FirstEnergy Reduces 2016 Production Outlook
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Bankers Petroleum Announces 4Q15 Operational Update, and FirstEnergy Reduces 2016 Production Outlook
Big Banc Split Corp. Class A (BNK:TSE) | 0 0 0.0%
- Published:
08 Jan 2016 -
Author:
Darren B. Engels -
Pages:
7
We have reduced our target price to C$3.25/£1.60 per share, which is based on our revised risked NAV estimate of $3.22/£1.58 per share. Our target price implies a 2016e DACF multiple of 6.9x (previously 7.7x) based on FirstEnergy’s price deck and 11.9x on strip pricing. Our risked NAV estimate decreased 21% to C$3.22/£1.58 per share due to our reduced production outlook, slightly higher cost structure associated with reduced volumes, and the very conservative assumption that the third-party audi ....