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Analyst Calls Oil E&P 'Most Attractive Small-Cap Montney Name in Our Universe'

Source: Streetwise Reports

 

March 13, 2018 (Investorideas.com Newswire) Garett Ursu, an analyst with Cormark Securities, highlighted this energy firm's upcoming well test results and upside potential.


A Feb. 28 Cormark Securities research note indicated that Blackbird Energy Inc. (BBI:TSX.V) is approaching its "final derisking event," which is the release of test results from the northern 3-27-71-7W6 well, before the company transitions to "a high-growth junior," wrote analyst Garett Ursu.

Initial results, due out shortly, are expected to be "strong" and to confirm "a majority (>75%) of Blackbird's Pipestone acreage to be within the volatile oil window." Consequently, the well results are expected to have a "material and positive impact on the stock," just like those from Blackbird's eastern 2-20-70-6W6 Pipestone well did most recently. They showed a flow of 1,163 barrels of oil equivalent per day and a record 824 barrels per day of condensate.

Following announcement of the 3-27 results, Blackbird will shift Pipestone to "fill plant commitments in mid-2019," Ursu noted. During this phase, "we expect the market to begin to value Blackbird as a growth name rather than a land/net asset value play."

Ursu reiterated Cormark's positive take on Blackbird: "We continue to view the company as the most attractive small-cap Montney name in our universe with approaching catalysts, behind-pipe volumes and a large land base within the desirable liquids-rich Pipestone Montney fairway."

Cormark has a Buy rating and a CA$0.90 per share target price on Blackbird, whose stock is currently trading at around CA$0.38 per share.

Read what other experts are saying about:

Disclosure:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Blackbird Energy. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article/interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Blackbird Energy, a company mentioned in this article.

Disclosures from Cormark Securities, Blackbird Energy Inc., Morning Meeting Notes, Feb. 28, 2018

Analyst Disclosure:

We, Garett Ursu and Michael Mueller, hereby certify that the views expressed in this research report accurately reflect our personal views about the subject company(ies) and its (their) securities. We also certify that we have not been, and will not be receiving direct or indirect compensation in exchange for expressing the specific recommendation(s) in this report.

A full list of our disclosure statements as well as our research dissemination policies and procedures can be found on our website.


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