Petrus Resources fourth quarter results were in line in terms of production figures, although trailed our thinking on a cash flow basis on the back of higher royalties and cash costs. Year-end reserves were reasonably in line with expectations given a mid-year update. Management reiterated capital spending plans that will see $11 mm spent in 1H16e to drill 4 (3.6 net) wells. We have updated our forecast and NAV methodology based on year-end results, while also incorporating the impact from our l ....
24 Mar 2016
Reports Year-End Results
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Reports Year-End Results
Petrus Resources Ltd. (PRQ:TSE) | 0 0 (-6.7%) | Mkt Cap: 61.8m
- Published:
24 Mar 2016 -
Author:
Michael Hearn -
Pages:
8
Petrus Resources fourth quarter results were in line in terms of production figures, although trailed our thinking on a cash flow basis on the back of higher royalties and cash costs. Year-end reserves were reasonably in line with expectations given a mid-year update. Management reiterated capital spending plans that will see $11 mm spent in 1H16e to drill 4 (3.6 net) wells. We have updated our forecast and NAV methodology based on year-end results, while also incorporating the impact from our l ....