Petrus Resources second quarter results carried no surprises with production, cash flow, and capital expenditures all tracking our estimates. In addition, Management reiterated its 2H16e capital program that will continue to see development focused on its Ferrier Cardium asset. Recall subsequent to quarter-end the Company sold its assets in the Peace River area of Alberta to shore up the balance sheet. With no meaningful changes to our forecast we maintain our Outperform ranking and $3.25 per
12 Aug 2016
Second Quarter Results In Line with Expectations, No Changes to Outlook
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Second Quarter Results In Line with Expectations, No Changes to Outlook
Petrus Resources Ltd. (PRQ:TSE) | 0 0 (-6.7%) | Mkt Cap: 61.8m
- Published:
12 Aug 2016 -
Author:
Michael Hearn -
Pages:
3
Petrus Resources second quarter results carried no surprises with production, cash flow, and capital expenditures all tracking our estimates. In addition, Management reiterated its 2H16e capital program that will continue to see development focused on its Ferrier Cardium asset. Recall subsequent to quarter-end the Company sold its assets in the Peace River area of Alberta to shore up the balance sheet. With no meaningful changes to our forecast we maintain our Outperform ranking and $3.25 per