TGA Update
Posted: Thu Mar 08, 2012 3:18 pm
TransGlobe Energy (TGA): The company reported 4th quarter and full year results. An updated Net Income and Cash Flow Forecast has been posted under the Sweet 16 Tab. Our updated Fair Value estimate is shown at the bottom of the forecast.
The company is going to report a big increase in production in Q1. Production is now over 17,000 bopd and I am expecting them to exit 2012 at over 20,000 bopd. Going into 2013, TGA should have several large low risk development projects well underway in Egypt.
TGA is going to participate in the next bid round on Egypt. Look for them to acquire several more large blocks.
BTW I listened to the Apache CC earlier this week. APA is quite confident that their operations in Egypt are safe. They have more than 30 rigs drilling in Egypt and it is a major core area for Apache.
The company is going to report a big increase in production in Q1. Production is now over 17,000 bopd and I am expecting them to exit 2012 at over 20,000 bopd. Going into 2013, TGA should have several large low risk development projects well underway in Egypt.
TGA is going to participate in the next bid round on Egypt. Look for them to acquire several more large blocks.
BTW I listened to the Apache CC earlier this week. APA is quite confident that their operations in Egypt are safe. They have more than 30 rigs drilling in Egypt and it is a major core area for Apache.