If it does and they indeed lower Admin/OPEX costs and can maintain 4kboepd could well look like a cheap producer sub $50mill ..
3x Pisces wells will commence any day now to keep production levels around target 4kboepd
IMHO they need to ditch any hedging waste of time(If the plan is to streamline operations nil montney) ... CE1 should be getting well over A$100bbl per bbl of oil(less hedging) ... last qty A$87bbl ...
we might just see the SP hold around present levels going into the end of the year even after the Divi.. if O&G heads higher and CE1 can prove ongoing solid FCF ...
recent analyst report >>
Valuation
At current oil prices, we now forecast overall FCF of ~A$50 mm from 2023
to 2025. This is similar to the current market cap. Our Core Nav based on
the company’s 2P reserves only is now A$0.31 per share, up from A$0.28
per share previously, which represents >3.5x the current share price. Our
new ReNAV is ~A$0.45/sh
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