Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on PINE CLIFF ENERGY LTD. We currently have 30 research reports from 1 professional analysts.
|14Mar17 23:24||MKW||Pine Cliff Energy Ltd. Announces Record Revenue and Funds Flow, Fourth Quarter and Annual 2016 Results|
|14Feb17 01:24||MKW||Pine Cliff Energy Ltd. Announces 2017 Guidance, 2016 Bank Debt Reduction and Year-End Reserves|
|05Jan17 23:55||MKW||Pine Cliff Energy Ltd. Announces Resignation of CFO and Appointment of New CFO|
|18Mar16 00:00||MKW||Pine Cliff Energy Ltd. Announces its Fourth Quarter and Annual 2015 Results|
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PINE CLIFF ENERGY LTD
PINE CLIFF ENERGY LTD
Resolves Liquidity Concerns, Announces 2Q16 Results
12 Aug 16
Pine Cliff announced a private placement with Alberta Investment Management Corporation (AIMCo) that brought in $30 mm of proceeds that will be used to term out a portion of the Company’s outstanding debt, thus eliminating any near-term liquidity concerns that were associated with the stock. Concurrently the Company announced its credit facility has been reduced to $85 mm, with the Company having eliminated its Syndicate exposure by $100 mm since the beginning of the year. Second quarter results were in line to modestly behind expectations, with the Company remaining focused on its acquisition strategy. With no material changes to our 2017e outlook and our target multiple largely intact, we have maintained both our Outperform ranking and $1.25 per share target price.
ANNOUNCES 2Q16 RESULTS, CONCLUSION OF BANK LINE REVIEW, CLOSING OF A PRIVATE PLACEMENT
10 Aug 16
Impact - slightly positive as while second quarter results were modestly behind expectations, resolution of the borrowing base redetermination and private placement to term out a portion of the Company's outstanding debt should remove any liquidity concerns and provide the near term financial flexibility to continue to focus on the operational side of the business while managing through the current period of low commodity prices
ANNOUNCES ISSUANCE OF INSIDER SUBORDINATED DEBT, SALE OF NON-CORE ASSETS, AND EXTENSION OF BORROWING BASE REDETERMINATION
02 Aug 16
Impact - slightly positive as the debt issuance terms out a portion of the Company's outstanding debt and coupled with the asset sale will increase near-term financial flexibility as the Company continues to work through its bank line redetermination
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.
Pine Cliff Energy Sells Royalty Assets, Shores up Balance Sheet in Midst of Credit Facility Review
28 Jun 16
Pine Cliff announced the sale of its royalty assets as well as the sale of its investments in public companies, bringing in combined proceeds of ~$30 mm, which will be used to pay down debt thus increasing the Company’s financial flexibility as work on the Company’s borrowing base redetermination continues.
27 Mar 17
Elecosoft* (ELCO): Steadily building profits (CORP) | Bioventix* (BVXP): Interim results lead to upgrades (CORP) | Hurricane Energy (HUR): Halifax discovery (BUY) | KBT Business Technology* (KBT): interims and contract win (CORP) | Independent Oil & Gas* (IOG): Licence updates (CORP)
28 Mar 17
ClearStar* (CLSU): Building a background for growth (CORP) | Sound Energy (SOU): TE-8 results (HOLD) | LiDCO* (LID): 2017 should be a transformative year (CORP) | Proteome Sciences* (PRM): FY 2016 in line. Moving towards breakeven (CORP) | Fulcrum (FCRM): Significant market potential, rising margins and a strong balance sheet (BUY) | Mortgage Advice Bureau (MAB1): Strong and growing intellectual property (BUY) | 7digital* (7DIG): Open offer result (CORP)
GMP FirstEnergy ― UK Energy morning research package
27 Mar 17
Amerisur Resources (AMER LN)6; HOLD, £0.30: Reduced 2017e production outlook and year-end 2016 reserves | Condor Petroleum (CPI CN)8 ; BUY, C$3.50: Reports 4Q16 results and remains on track for first production from Turkey in mid-2017e | Hurricane Energy (HUR LN) (not covered): Halifax well update in the UK | Cairn Energy (CNE LN): BUY, £2.90: Update on the VR-1 well in Senegal by Far (FAR AU) (Not covered) | Royal Dutch Shell (RDSA/B LN) (not covered): Divestment of Gabonese assets
Strong trading leads to upgrades
22 Mar 17
On the back of today’s positive trading update and slightly upgraded profit forecasts for FY2017, FY2018 and FY2019 we have reviewed our DCF analysis. This has led to an increased DCF valuation per share of 1500p (from 1200p) which we have made our new target price (from 1200p). Both TFP and JC Paper have contributed to the upgrades shown in the table below as have favourable currency movements. With the potential for further upgrades due to capitalising 3DP costs to come we maintain our Add recommendation.
Panmure Morning Note 22-03-2017
22 Mar 17
Acacia Mining and Endeavour Mining confirmed merger talks have now ended with Endeavour claiming an inability to “create adequate value for Endeavour shareholders”, most likely, we believe, given the disappointing ruling from the Tanzanian government on copper-gold concentrate sales. We were positive on the merger and believed a credible London listed Pan-African producer capable of challenging Randgold, would have been established. We make no change to our Hold recommendation today, and expect the shares to be marked lower in early trade.