By November 10, 2017 0 Comments Read More →

Analyst Initiates on ‘Potential Tenbagger’ Oil & Gas Company

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An Oct. 26 research report noted that Mackie Research Capital Corp. initiated coverage on Pulse Oil Corp. (PUL:TSX.V) with a Speculative Buy rating and a $0.50 per share target price. Pulse is an oil and gas exploration and production company targeting plays in Alberta, Canada.

“The big upside for investors, and what differentiates this small-cap company from others in the current market, is its miscible flood enhanced oil recovery project (EOR) of two Nisku pinnacle reefs at Bigoray (100% working interest),” wrote analyst Bill Newman.

Newman described two production scenarios for those assets. The first, at the high end of expectations, assumes an 80% recovery rate, which is the “average recovery factor of 52 nearby analogous reefs that have been developed with a miscible flood,” he wrote. This could produce more than 2 Mboe/day and add 12 MMboe of light oil reserves, for a value of more than $177 million ($2.01 per share)…

 

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