SEA sundance energy australia limited
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BA-Merrill Lynch 16-Sep-13 The Texas acquisition is bedded down,...

  1. Zerodark
    2,186 Posts.
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    18/09/13
    08:37
    Post #: 12340326
    BA-Merrill Lynch 16-Sep-13

    The Texas acquisition is bedded down, the capital has been raised and drill rigs are ramping up. In Merrills' view the stage is set for a step up in production in the second half. The legacy interests in the Bakken complicate the otherwise strong investment case but the company is expected to exit in the near-term. This should free up cash for further investment in the Eagle Ford and Woodford.

    Target is trimmed to $1.35 from $1.38 and the Buy rating is retained.
    SEA Price at posting: $1.07 Sentiment: None Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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