EPG Luncheon in Houston TODAY

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dan_s
Posts: 34465
Joined: Fri Apr 23, 2010 8:22 am

EPG Luncheon in Houston TODAY

Post by dan_s »

We still have 5 seats available.

Send an email to Sabrina if you would like to attend: energyprospectus@gmail.com

Riley Exploration Permian (REPX) is hosting. It is in our Small-Cap Growth Portfilio.
Dan Steffens
Energy Prospectus Group
dan_s
Posts: 34465
Joined: Fri Apr 23, 2010 8:22 am

Re: EPG Luncheon in Houston TODAY

Post by dan_s »

Our next Houston luncheon is set for Tuesday, September 20

Solaris Resources Inc. (SLS.TO) is hosting.
Current Share price is $7.05
First Call's price target is $19.64

You can register for the luncheon on the EPG website home page.
Dan Steffens
Energy Prospectus Group
Fraser921
Posts: 2954
Joined: Mon Mar 22, 2021 11:48 am

Re: EPG Luncheon in Houston TODAY

Post by Fraser921 »

Riley was dead last on my screen today, down 8.8%
Laredo down 6.6 %

Bargains galore
dan_s
Posts: 34465
Joined: Fri Apr 23, 2010 8:22 am

Re: EPG Luncheon in Houston TODAY

Post by dan_s »

Bobby Riley, the Co-Founder and Chairman, made a good presentation today.

MY TAKE:
> REPX Q3 production should beat my forecast of 11,350 Boepd for the quarter.
> They are generating more than enough cash flow from operations to fund 100% of their CapEx and their quarterly dividends.
> They have switched to a calendar year (previous they were on a fiscal year that ends September 30)
> The EOR Pilot Project has significant upside for a company of this size. There is a high probability that it will work since other companies in the same country have been using CO2 floods for decades in the same county.
> The stock is currently trading below their PV10 Net Asset Value of $47.51 based on their 9-30-2021 reserve report.
> Their next year-end reserve report will show much higher PV10 of the proved reserves.
> Neal Dingmann at Truist Financial is the only well-known energy sector analysts that covers the Company. His price target is $48.00.

If you are not familiar with this Small-Cap.
1. Read our September 2nd profile, which you can download from the EPG website.
2. Take a few minutes to study my forecast/valuation model and not the big increase in operating cash flow in 2023.
3. Note that there is nothing in my valuation for the EOR project. It has the potential to take the PV10 NAV much higher.
Dan Steffens
Energy Prospectus Group
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