An acceleration to development of the Eagle Ford and Mississippian assets through the Dec H should have substantial bearing upon group production growth. Recent Eagle Ford well results, combined with high working interests, imply a sharp uptick to a Dec 31 exit rate of 5-5,500boepd from a Jun Q’ly production av. of 2,381boepd. We have reviewed our valuation in light of the recent operational update: Our valuation increases to A$1.72/sh. Buy.
SEA Price at posting:
$1.03 Sentiment: Buy Disclosure: Held