Credit to brett at SS ...
neo
http://www.newratings.com:80/analyst_news/...le_1633889.html
Pan Orient Energy upgraded to "buy"
Friday, October 19, 2007 9:22:53 AM ET
Research Capital
NEW YORK, October 19 (newratings.com) - Analyst Bill Newman of Research Capital upgrades Pan Orient Energy Corp (ticker: POE-TSX) from "speculative buy" to "buy." The 12-month target price has been raised from C$6.25 to C$9.50.
In a research note published this morning, the analyst mentions that the company has announced that its NS8-D1 project is currently producing 1,480 bbl/d of light oil and is the best well drilled to date. Pan Orient Energy’s risk profile has reduced significantly, since operations are being funded via cash flows, the analyst adds. Substantial additions to reserves and production are likely by the year-end on account of continued success in drilling, Research Capital says.
pan orient energy upgraded to buy
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