Kerm / Granger Energy Corp.
Picked up an investor package today. Haven't had time to digest it, but for the sake
of discussion, here's the quick and dirty.
GAS.A, ASE $1.40. IPO March 1994.
1995 Stats:
Production 309 boe
CF $0.15/class A share
EP class A share -$0.05
Capital spending $1,643,000
Debt: $730,000
Shares: 2.7 mil class A, plus 200,000 warrants o/s
Nine Months ended August 31, 1996
402 boe/d, of which 311 was oil. Oil production increased 66%, vs. 34% overall increase in
output. NOTE: Gas production declined from 1,125 to 908 mcf/d.
CF=$0.36/sh
EPS = $0.12
Debt: 0 (?!)
Forecast CF for FY ending Nov. 30 is $0.45, or $1,200,000.
Forecast 1997 CF is $0.60.
YTD participated in 19 gross / 7.6 net oil wells; six gross wells scheduled for Q4.
Properties concentrated in SE Sask and central Alberta, with a focus on oil.
Comments?
Since their office was right around the corner, I also picked up a package for Wolverine,
but haven't had time to look at it yet. |
