Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on YANGARRA RESOURCES LTD. We currently have 20 research reports from 1 professional analysts.
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YANGARRA RESOURCES LTD
YANGARRA RESOURCES LTD
Domestic E&P Statistical Package and FD&A Review
12 Apr 16
With this publication we highlight various metrics and statistics forthcoming from yearend reserve books for our Domestic E&P coverage universe (Integrateds, Large Cap, Oilsands, Intermediate, Mid Cap, and Small Cap). Similar charts for YE2014 reserves can be found in our Statistical Package dated April 7, 2015.
Resources Reports Year-End Financial Results, Updates Guidance
17 Mar 16
Yangarra reported year-end results with production, cash flow, capital expenditures, and net debt all largely as expected, as the Company had provided preliminary year-end estimates in an early January operations update. Recall the Company released its year-end reserve report one month ago as detailed in our Facts dated February 17, 2016. While previously alluding to a cash flow budget for 2016e, Management has put forth more formal guidance, with the Board of Directors approving a $24 mm capital budget that is expected to generate average annual production of 2,750- 3,000 boe/d. We have incorporated actual fourth quarter results and updated our forecast to align with Management’s new guidance. Based on the positive moves to our forecast we have maintained our Outperform ranking on a revised target price of $1.25 per share.
Yangarra Resources Reports 2015 Year-End Reserve Report
17 Feb 16
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 $1.00 per share, which is based upon our updated NAV methodology on current strip pricing.
YANGARRA RESOURCES LTD. (YGR) ANNOUNCES 2015 YEAR END CORPORATE RESERVES INFORMATION
16 Feb 16
Impact: Slightly positive. Yangarra reported lower y/y reserves on a per share basis, but incorporated higher NPVs given improvements to play economics for the Company's core properties in central Alberta. For the year ended 2015, Deloitte has assigned PDP reserves of 5.6 mmboe, 1P reserves of 24.7 mmboe, and 2P reserves of 40.6 mmboe. This resulted in y/y per share growth of -18% for PDP, 3% for 1P, and -7% 2P. The Company noted significant improvements to economics throughout its central Alberta land base as a result of the use of cemented liner technology and extended reach wells, which helped boost corresponding NPVs despite a 40% decrease in Deloitte's US$ WTI forecast. Corresponding NPVs came in at $98 mm for PDP, $316 mm for 1P, and $500 mm for 2P based on Deloitte's year-end price deck.
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.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
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.
Minor delay but lower cost and better visibility enhance the investment profile
13 Jan 17
First oil at Stella is delayed by about a month, reducing the contribution of Stella to FY17 production by the same period. While this has an impact on FY17e free cash flow, this is negligible to our valuation. More importantly, FY17 opex are estimated at only US$18/boe, below our estimates of US$20/boe. There are opportunities to reduce opex further. Harrier is expected to reach first oil in 2018, one year earlier than we expected and at a cost of US$40 mm lower than we anticipated. The overall development cost is less than US$6.0/boe. Ithaca holds numerous discoveries around Stella that would be developed with a similar cost structure to Harrier.
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.