Triangle Petroleum (TPLM)

[dan_s]

An updated Net Income & Cash Flow Forecast model for TPLM has been posted under the Watch List Tab.

As a result of the recent common stock offering, I have lowered my Fair Value Estimate $1.30/share to $9.20/share.

Note that the new equity does improve the balance sheet and insure their aggressive growth plan. As a result I have increased my valuation to 8X CFPS, which is conservative for a company with triple digit production and proven reserve growth locked in. First Call's Price Target is also $9.20/share.

TPLM is on a January fiscal year, so Q2 just ended 7/31 and results will not be announce until early September.