SAN FRANCISCO, Sept. 06, 2018 (GLOBE NEWSWIRE) -- Bill Newman, vice president of international and domestic oil and gas research with Mackie Research Capital, discusses two companies that are Mackie top picks that have recently announced updates that he believes could unlock substantial additional upside for investors.
Companies mentioned: Prairie Provident Resources Inc. (PPR:TSX), Point Loma Resources Ltd. (PLX:TSX)
Prairie Provident Resources is focused on the development of its conventional oil weighted assets in the Wheatland and Princess properties in Southern Alberta and its Evi area in the Peace River Arch area of Northern Alberta. The company remains highly undervalued on a cash-flow, reserves and NAV basis and receives no option value for its Quebec assets. In addition, with the recent drilling success at its Princess core area, production has increased to over 6,000 bbl/d (~75% liquids).
Point Loma Resources is highly undervalued and has a large concentrated land base and deep multi-zoned drilling inventory to fuel growth. Production has recently increased to over 1,000 boe/d with an additional ~200 boe/d expected in Q4/18, from low-risk well reactivations. During H2/18, PLX plans to drill two to three high-impact horizontal wells, including an exciting new Banff Oil play that has significant multi-bagger upside for the company as a standalone new play.
Continue reading this article: Mackie Research Updates Exciting New Developments with Two Multi-Bagger Return Top Picks
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DISCLOSURE:
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Bill Newman: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. Within the last two years, Mackie Research Capital has managed or co-managed an offering of securities for, and received compensation for investment banking and related services from Prairie Provident Resources and Point Loma Resources. Bill Newman has research coverage on the following companies mentioned in this article. Prairie Provident Resources and Point Loma Resources.
The full disclosure is provided at the end of the published article: Mackie Research Updates Exciting New Developments with Two Multi-Bagger Return Top Picks