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Voyager Oil & Gas, Inc. Common Message Board

  • richardclovis richardclovis Mar 15, 2013 2:24 PM Flag

    Upgrades

    Suntrust from neutral to buy...no price target..

    Canaccord maintains buy...raises price target to $11.00

    In a report published Friday, Canaccord Genuity analyst Stephen Berman reiterated his Buy rating on Emerald Oil (NYSE: EOX [FREE Stock Trend Analysis]), and slightly raised his price target from $10.50 to $11.00.

    In the report, Berman noted, “EOX is transitioning to an emphasis on operated drilling in the Williston Basin (WB) Bakken/Three Forks (TF) play in McKenzie/Dunn Counties of North Dakota. We believe EOX's successful transition to a balanced operated/non-operated model will act as a strong catalyst for the stock. Thus far, EOX has shown itself fully capable of transitioning to operatorship, and much anticipated 30-day rates for its initial three wells in McKenzie County should be made available in May. Four wells from a neighboring operator have averaged 30-day rates of ~680 Boe/d with EURs approaching 600-700 MBoe (EOX is only utilizing a 475 EUR assumption in its 2.6 MBoe/d exit rate guidance). Given its recent success in converting acreage, we expect net operated acreage to exceed guidance of 20K acres by year end.”

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