Pan Orient Energy "buy," target price raised 03/18/08 - Research Capital NEW YORK, March 18 (newratings.com) - Analysts at Research Capital maintain their "buy" rating on Pan Orient Energy Corp (POE). The target price has been raised from C$18.00 to C$19.75.
In a research note published this morning, the analysts mention that a recent independent engineering report on the company’s Sawn Lake heavy oil asset, dated December 31, 2007, points towards a y/y rise of 19% in net probable reserves. Pan Orient Energy’s reserves and production is likely to rise significantly by the year-end, since a majority of the company’s drilling programmes in Thailand during 2008 would be focus on exploration targets, Research Capital says. The company’s production and cash flows have continued to expand, the analysts add.
CVN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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