Deutsche Bank 30/01/2013 1 Buy $0.55 292.9% The broker notes the company's Airth-12 CSG well in Scotland reached a peak flow rate in excess of 0.8mmcf/d, which has been pulled back a bit to produce gas at a sustained rate of over 0.5mmcf/d. From the way the broker talks, this is good news apparently.
The broker notes Dart intends to proceed to commercial development in 1H13, with gas sales into an offtake agreement expected by late 2013. Oh yeah, the broker also reports the Dart International IPO is a go, while pilot well drilling in NSW is set to kick off this quarter. Buy call maintained.
Target price is $0.55 Current Price is $0.14 Difference: $0.405 If DTE meets the Deutsche Bank target it will return approximately 279% (excluding dividends, fees and charges).
DTE Price at posting:
13.6¢ Sentiment: LT Buy Disclosure: Held
