17 Feb 2016
Yangarra Resources Reports 2015 Year-End Reserve Report
Current production volumes appear reasonably in line with our 1Q16e forecast. Yangarra reported year-end reserves which were up ~9% on a 2P basis, while the 2P NPV was up ~26% benefitting from improved economics as a result of the use of cemented liner technology, extended reach wells, and lower costs. We have updated our NAV methodology which continues to point towards considerable upside from current trading levels. We maintain our Outperform ranking on an elevated target price of $1.00 per sh ....
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Yangarra Resources Reports 2015 Year-End Reserve Report
Yangarra Resources Ltd. (YGR:TSE) | 0 0 -0.4% | Mkt Cap: 405.3m
- Published:
17 Feb 2016 -
Author:
Michael Hearn -
Pages:
7
Current production volumes appear reasonably in line with our 1Q16e forecast. Yangarra reported year-end reserves which were up ~9% on a 2P basis, while the 2P NPV was up ~26% benefitting from improved economics as a result of the use of cemented liner technology, extended reach wells, and lower costs. We have updated our NAV methodology which continues to point towards considerable upside from current trading levels. We maintain our Outperform ranking on an elevated target price of $1.00 per sh ....