Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on MARQUEE ENERGY LTD. We currently have 32 research reports from 1 professional analysts.
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MARQUEE ENERGY LTD
MARQUEE ENERGY LTD
Reports Second Quarter Results In Line, Estimates Up on Platform to Elevate Capex
31 Aug 16
Marquee reported second quarter financial and operating results that were largely in line with expectations. The Company reiterated its 2H16e outlook which will see a return to drilling activity at Michichi, with 4x Banff/Detrital horizontals planned for 2H16e, given an expected financial position of $15.0-$17.5 mm of net debt on a revised ~$30 mm LOC. While implied returns are robust on an unchanged 12-month target price, there appears to be some legal rumblings forthcoming from Alberta Oilsands shareholders. As such, until the transaction is closed, we view the equity as partially speculative, and hence now rank the stock as a Speculative Buy. All else equal, we are constructive on the stock at this price level.
Announce Strategic Business Combination
24 Aug 16
This transaction provides much needed liquidity for Marquee, albeit undertaking significant dilution to common shareholders. The proforma entity should be able to continue as a going concern and be well capitalized enough to take advantage of Marquee’s strong asset base focused on its large footprint at Michichi. We have reduced our 12-month target price to $0.30/sh, effectively maintaining our prior 2017e EV/DACF valuation multiple. In the absence of the receipt of its 2Q16 results, we are maintaining our Market Perform ranking, though at current prices post initial market reaction, there is a basis forming to suggest the stock should be bought at current levels.
AND ALBERTA OILSANDS INC. (AOS) ANNOUNCE STRATEGIC BUSINESS COMBINATION
22 Aug 16
Impact: Positive within the context of continuation of a going concern and a capital structure positioned to take advantage of future acquisition opportunities though the stock will initially trade lower. This transaction provides much needed liquidity for Marquee, albeit undertaking significant dilution to common shareholders. The proforma entity should be well capitalized enough to take advantage of Marquee's strong asset base focused on its large footprint at Michichi.
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.
GMP FirstEnergy ― UK Energy morning research package
06 Dec 16
Transglobe Energy (TGL CN); BUY, C$5.25: Homeward bound… back to Canada | Great Eastern Energy Corporation (GEEC LN) (not covered): Reserves update in India | BP (BP LN) (not covered): Acquiring interest in Tangguh in Indonesia | Exillon Energy (EXI LN) (not covered): Production update in Russia | Genel Energy (GENL LN); SPECULATIVE BUY, £2.60: Receipt of payment for Taq Taq export in Kurdistan | ExxonMobil (XOM US) (not covered): Relinquishing blocks in Kurdistan
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
16 Jan 17
We take a look at the rankings of the various countries in Africa that have a significant exposure to mining. We take the Transparency International corruption rankings as our starting point and modify these for exceptional geology and for current UK government travel warnings. Ghana, Botswana and Namibia come out as our top three, with Eritrea, Kenya and Zimbabwe at the bottom of our rankings.
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.
19 Jan 17
Aggregated Micro Power* (AMPH): Funding for first peaking power plant project (CORP) | The Mission Marketing Group* (TMMG): Positive trading update (CORP) | Cello (CLL): Increasingly backed by, and leveraging, technology (BUY) | 4imprint (FOUR): Growth backed by strong cash flow continues (BUY) | Allergy Therapeutics (AGY): Positive trading update and market share gains drive upgrades (BUY) | Shanta Gold (SHG): Q4 operating results (BUY) | Sound Energy (SOU): Tendrara extended well test result (BUY) | Revolution Bars (RBG): Price target increase (BUY)