We are initiating coverage on TAG Oil with a target price of $1.25 per share and an Outperform ranking. TAG has a low risk, stable production profile that can be backstopped by a significant inventory of recompletion and development opportunities, which can be fully funded via cash flow from operations. There is an exploration portfolio that can be targeted in an improved crude oil price environment.A potentially significant catalyst for the Company is the upcoming waterflood project, which i
19 Jul 2016
Initiating Coverage
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Initiating Coverage
TAG Oil Ltd (TAO:TSX) | 0 0 -2.2% | Mkt Cap: 37.5m
- Published:
19 Jul 2016 -
Author:
Darren B. Engels -
Pages:
12
We are initiating coverage on TAG Oil with a target price of $1.25 per share and an Outperform ranking. TAG has a low risk, stable production profile that can be backstopped by a significant inventory of recompletion and development opportunities, which can be fully funded via cash flow from operations. There is an exploration portfolio that can be targeted in an improved crude oil price environment.A potentially significant catalyst for the Company is the upcoming waterflood project, which i