Kodiak Oil and Gas
Posted: Sat May 08, 2010 6:35 pm
I finally got time to listen to KOG's 1st quarter conference call and update my forecast. Kim will be uploading the new forecast tonight.
My Fair Value estimate for KOG is now up to $6.50/share.
They had and excellent first quarter. They are executing on their growth plan. Had it not been for the Market's meltdown on Thursday the share price would have gone up sharply. Kodiak is almost a pure play on the Bakken Shale so it is heavily weighted to oil. As of 3/31 they have no debt and $10 Million cash in the bank. That will change as their 2010 capital program will spend about double their cash flows this year.
Check my forecast model carefully and I think you will agree this is one you want to add on the dip. A big reserve addition is coming at year-end.
Dan
My Fair Value estimate for KOG is now up to $6.50/share.
They had and excellent first quarter. They are executing on their growth plan. Had it not been for the Market's meltdown on Thursday the share price would have gone up sharply. Kodiak is almost a pure play on the Bakken Shale so it is heavily weighted to oil. As of 3/31 they have no debt and $10 Million cash in the bank. That will change as their 2010 capital program will spend about double their cash flows this year.
Check my forecast model carefully and I think you will agree this is one you want to add on the dip. A big reserve addition is coming at year-end.
Dan