logo
  Join        Login             Stock Quote

Evolution Petroleum (EPM) Initiated As 'Buy' By Brean Capital; PT $11

 December 06, 2012 02:47 PM
 


(By Balachander) Evolution Petroleum Corp. (NYSEAMEX: EPM) shares were initiated with a "Buy" rating and price target of $11 by Brean Capital LLC.

Evolution Petroleum applies modern technology and engineering expertise to known oil and gas resources onshore in the United States, the brokerage said.

Three catalysts on the horizon are: initial well results from EPM's Mississippi Lime Play, increasing oil production at the Delhi Field, and additional GARP results, Brean wrote.

The brokerage expects well results from Evolution's initial Mississippi Lime wells are imminent. In addition, Brean said it expects to see increasing oil production at Delhi in the 2Q:F13 results.

[Related -Dividend Scan: MHR, WSO, ANH, EPM, AFG, LTC]

Brean noted that GARP is a low-cost technology that improves production and ultimate recoveries from mature wells. GARP technology increased production to 55-60 gross (27-30 net) BOEPD from marginal levels on four installations.

"While GARP is not a major driver at the moment, it could add meaningful production down the road," the brokerage wrote.

The company's producing assets include a CO2-EOR project with growing production in Louisiana's Delhi Field, and producing wells and proved drilling locations in the Giddings Field of Central Texas and Lopez Field in South Texas.

The stock, which has been trading in the 52-week range of $7.48 to $10.14, rose 1.28 percent to trade at $7.92 on Thursday.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageOld Bank's New Breakout has Big Rally Potential

One of my favorite things to see in a long candidate is a pattern of beating Wall Street's earnings read on...

article imageIs The Stock Market's 5-Year Return A Useful Proxy For Valuation?

Tobin’s Q, a market-valuation metric, is back in the news, in part thanks to a widely read Bloomberg read on...

article image4 Dogs To Sell Immediately

Despite the chorus of analysts and investors calling for the long-awaited correction, the market is showing read on...

article imageThe Fed's Magical Mystery Tour

What's going on at the Fed? Notorious dove, Charles Evans of the Chicago Fed, gave a speech in read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

Choppy, Corrective Session
More Articles on: Oils/Energy



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.