Lightstream

dan_s · Post by **dan_s** » Wed Apr 16, 2014 8:48 am

IMO Lightstream is now a "Screaming Buy". This sale shores up the balance sheet and $100+ oil means free cash flows will be way above my forecast model. Read the full press release and our profile. This common stock pays monthly dividends and should be up 50% by year-end.

Profile and forecast under Watch List tab.

Lightstream Announces Operational Update and $141 Million Asset Disposition

CALGARY, ALBERTA--(Marketwired - Apr 14, 2014) - Lightstream Resources Ltd. ("Lightstream" or the "Company") (TSX:LTS) is pleased to provide an update on our operations and announce an agreement to sell our southeast Saskatchewan Conventional business unit royalty interest package for gross proceeds of $141 million.

Operational Update

Consistent with our investment profile in 2013, the first quarter of 2014 is projected to be our most active capital quarter for the year. In the first quarter of 2014 we drilled 50 wells, or approximately 55% of our annual program, with the Cardium continuing to be our busiest area. During the quarter we brought 25 wells on production and at March 31, 2014, we had 32 wells in inventory waiting to be brought on-stream. While some completion activities have continued into April, our current focus is on equipping and tie-in activity to get this inventory of drilled wells on production. We expect to have virtually all wells that were in inventory at quarter-end on-stream during the second quarter.

Production for the first quarter of 2014 averaged 44,000 barrels of oil equivalent per day (boepd) based on field estimates (80% light-oil and liquids weighting). This is approximately 3% lower than production for the fourth quarter of 2013. First quarter production was in line with our expectations and reflects dispositions completed during the quarter of 1,700 boepd (66% gas weighted), which was effectively offset through restored production from downtime (associated with cold weather earlier in the quarter) and production additions from new wells.

READ FULL PRESS RELEASE. NOTE THAT PRODUCTION WILL DIP A BIT MORE IN Q2 (JUST SPRING BREAK-UP), THEN RAMP UP INTO YEAR-END.