Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on ALTURA ENERGY INC. We currently have 16 research reports from 1 professional analysts.
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ALTURA ENERGY INC
ALTURA ENERGY INC
Acquisition of Low Decline Oil Assets in East Central Alberta
29 Aug 16
Altura has entered into an agreement to purchase 125 boe/d (55% oil and liquids) of low decline (~10%) Upper Mannville production and 7.3 net sections of land for total cash consideration of $4.0 mm. The assets are 100% operated and located in the Killam area of Alberta, ~40 miles west of Wainwright, Alberta. Management estimates that the acquisition adds 12 Upper Mannville horizontal drilling locations based on current approved well spacing. The deal is accretive to CFPS. The Company’s 2H16e drilling program is unchanged. The Company retains an excellent financial position. There are no changes to our 12-month target price or ranking at this juncture.
Announces its Second Quarter 2016 Results
12 Aug 16
Altura reported second quarter financial and operating results slightly behind our estimates, though at this early stage the key components of its organic growth strategy remain intact. We have made no changes to our forward estimates at this juncture as Management reiterated a 7-well summer drilling program mainly focusing on its Klein North property, though testing some exploration concepts. We have reaffirmed our 12-month target price of $0.45 per share and Outperform ranking, noting a robust implied return and current valuation that is well below its oily small cap peer group.
2Q16e Quarterly Preview
26 Jul 16
Some Recovery on Segmented Cash Flow Generation Over Q1 Though Still Down 56% Y/Y. In aggregate, the Intermediate, Mid, and Small Cap groups are expected to generate 2Q16e cash flow of $1,281 mm, $183 mm, and $53 mm, or $1.517 billion in total, that while depressed relative to the same period last year (~$2.647 billion combined), is up 17% sequentially from the prior quarter, largely on the strength of crude oil price recovery in the period. Severely weak natural gas pricing picture markedly reversed into summer, market likely to ignore financials for natural gas producers and look ahead to winter and formalization of sell-side 2018e estimates in coming months. Spot AECO natural gas prices recently crested C$2.60/mcf, and with a reasonable alignment of previously distressed NE BC Stn2 differentials, augmented by a withdrawal expected next week, view the market psyche as constructive and looking ahead, with the analogy that this market is shaping up to mirror 2012 still holding. That said, with crude oil poised to retest support levels, combined with strong stock price performance broadly observed YTD, we would characterize sentiment as slightly pessimistic in the near-term which could reduce or unwind momentum-based investment strategies that have worked thus far in 2016.
Announces First Quarter 2016 Results
13 May 16
Altura reported first quarter financial and operating results slightly behind our estimates, though exiting the quarter with a stronger cash position on lower capital outlays. We have made no changes to our forward estimates at this juncture as Management reiterated a 7-well summer drilling program mainly focusing on its Klein North property, though testing some exploration concepts. We have reaffirmed our 12-month target price of $0.45 per share and Outperform ranking, noting a robust implied return and current valuation that is well below its oily Small Cap peer group.
30 Nov 16
Abzena (ABZA): Interim results indicate happy customers (BUY) | Horizonte Minerals* (HZM): Fund raise completed (CORP) | SacOil* (SAC): Half-year trading statement (CORP) | Revolution Bars (RBG): New openings (BUY) | Amino Technologies* (AMO): Multi operator FUSION roll out (CORP)
Small Cap Breakfast
29 Nov 16
Asia Pacific Investment Partner - the research-driven emerging and frontier markets real estate development business intends to float on AIM and conduct a placing in December RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m Diversified Oil & Gas— Schedule One now out. $60m to be raised. Expected admission 6 December. Creo Medical Group —UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA.
24 Nov 16
Quixant* (QXT): Gaming gains (CORP) | SCISYS* (SSY): Bringing good news from Germany (CORP) | Hayward Tyler Group*: Contract wins (CORP) | Sound Energy (SOU): TE-7 flow rate and fund raise (BUY) | Water Intelligence* (WATR): Growth and improving returns in a defensive market (CORP) | Imaginatik* (IMTK): Interim trading update (CORP)
High grade, low cost gold
28 Nov 16
High grades and low costs mean that, in our view, Scotgold’s Cononish project could generate more than £14m a year in EBITDA. In addition to advancing funding discussions based on the compelling bankable feasibility study mine plan (which at £950/oz gold price and 8% WACC gives a project NPV of £43.0m), the company is exploring optimisation opportunities, as well as the potential for a phased approach requiring lower up front capital. We are resuming coverage with a Buy recommendation and target price of 2.2p