GBC AG: Saturn Oil & Gas Inc. | Rating: BUY
Original-Research: Saturn Oil & Gas Inc. - von GBC AG
Einstufung von GBC AG zu Saturn Oil & Gas Inc.
Unternehmen: Saturn Oil & Gas Inc.
ISIN: CA80412L8832
Anlass der Studie: Research Note
Empfehlung: BUY
Kursziel: 13.12 CAD
Kursziel auf Sicht von: 31/12/2022
Letzte Ratingänderung:
Analyst: Julien Desrosiers; Felix Haugg
- Over 8,000 boe/d 2022e production
- Oil sector under supply stress
- Up to 80% debt repayment in 2022e
Company guidelines. The Company expects to produce an average of 8,000 boe/ d for the FY2022e.
Bought deal financing. The company has closed a bought with Eche-lon Capital Market of 6,141,000 units for gross proceeds of $18,423,000 CAD.
Non-Brokered Private placement. The Company has issued 730,000 units for gross proceeds of $2,190,000 CAD.
Capital expenditure totalizing CAD 50M. With the additional proceeds of the financing Saturn can accelerate its field development in this high oil price environment. The Company will deploy impactful capital during 2022e equal to approximately 50% of current its market capitalization.
Massive revenue growth projected for 2022e According to our estimations, the Company will have revenues of CAD 287.1M for the FY2022e
New oil macroeconomics. The oil price has started to rise in September 2021 and has reached almost all time high on March 8, 2022, due to the increased global demand and current geopolitical situation in Europe.
Drilling success. The Glen Ewen 101/7-26 well, delivered average light oil production of over 220 bbl/d for the first 30 days. Based on public data, this well had the highest oil deliverability of all 550+ wells drilled in Saskatchewan in Q4 2021 with over 500 hours of production data.
Accelerated debt repayment plan. With the current oil price, we estimate the Company will accelerates its debt repayment and reduce net debt to 80% by year end 2022 and could be 100% debt free by as early as Q3 2023.
Market cap to free cash flow ratio of 0.35. With our current estimates, we believe the company to be generating over $32.7M free cash flow on market capitalization of $93M.
Based on our DCF model we have increased our target price to 13.12 CAD / 9.41 EUR and are maintaining our BUY rating.
Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/23807.pdf
Kontakt für Rückfragen
GBC AG
Halderstraße 27
86150 Augsburg
0821 / 241133 0
research@gbc-ag.de
+++++++++++++++
Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR. Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,6a,7,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter:
http://www.gbc-ag.de/de/Offenlegung
+++++++++++++++
Zeitpunkt der Fertigstellung: 11.04.2022, 08:30
Zeitpunkt der Veröffentlichung: 11.04.2022, 10:00
-------------------übermittelt durch die EQS Group AG.-------------------
Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.
