BlackPearl reported fourth quarter nancial and opera ng results that markedly bested our es mates, highlighted by CFPS 29% ahead of forecast, net debt 10% lower, and be er than an cipated PDP FD&A costs. While the outlook remains tenuous at current strip prices with D/CF of ~6.7x run-rate, we iden fy management’s recogni on of the current situa on and adaptability in this por on of the cycle. Valida on that the rst phase of its Onion Lake thermal project is working is an important aspect here, ....
29 Feb 2016
Phoenix Poised to Rise from the Ashes on Price Recovery
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Phoenix Poised to Rise from the Ashes on Price Recovery
BlackPearl Resources (PXX:TSE) | 0 0 -1.7% | Mkt Cap: 380.0m
- Published:
29 Feb 2016 -
Author:
Robert Fitzmartyn -
Pages:
9
BlackPearl reported fourth quarter nancial and opera ng results that markedly bested our es mates, highlighted by CFPS 29% ahead of forecast, net debt 10% lower, and be er than an cipated PDP FD&A costs. While the outlook remains tenuous at current strip prices with D/CF of ~6.7x run-rate, we iden fy management’s recogni on of the current situa on and adaptability in this por on of the cycle. Valida on that the rst phase of its Onion Lake thermal project is working is an important aspect here, ....