We have updated our estimates to reflect lower capital investment in 2016e than our prior forecast. Acknowledging the current forward strip, we illustrate BlackPearl as a negative cash flow generator in 2016e and 2017e. Onion Lake SAGD continues to ramp up in line with management estimates at ~4,000 bbl/d. Management will look to conserve capital and only pursue outlays that are absolutely necessary as it moves to preserve equity value in the current market. On our valuation methodology, consist ....
25 Jan 2016
BlackPearl Update
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BlackPearl Update
BlackPearl Resources (PXX:TSE) | 0 0 -1.7% | Mkt Cap: 380.0m
- Published:
25 Jan 2016 -
Author:
Robert Fitzmartyn -
Pages:
6
We have updated our estimates to reflect lower capital investment in 2016e than our prior forecast. Acknowledging the current forward strip, we illustrate BlackPearl as a negative cash flow generator in 2016e and 2017e. Onion Lake SAGD continues to ramp up in line with management estimates at ~4,000 bbl/d. Management will look to conserve capital and only pursue outlays that are absolutely necessary as it moves to preserve equity value in the current market. On our valuation methodology, consist ....