Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG Message Board

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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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To: No Mo Mo who wrote (19162)	6/3/2010 3:29:04 PM
From: JimisJim	1 Recommendation Read Replies (1) of 48092

OT: RJ on BPZ RJ Reiterates Strong Buy for BPZ on May 27, 2010 In the report they value BPZ proved NAV at $8.00 per share based on $75.00 oil. With 22D news anticipated in mid-June and the regulatory issues now off the table and enhanced operational expertise at Albacora the stock should trade closer to their total company NAV... They set a price target of $13, based on a slight discount to the $14.00 total company NAV. Estimated Sales for 2010 are now up 17% to 5,500 bbl/d versus a prior assumption of $4,700 bbl/d, due to increases in 3Q'10 average sales forecasts which have increased from 2,400 to 5,200 bbl/d. For 2011 sales, two Corvina wells that were previously forecast to be restricted early on are now assumed to produce at full capacity in late 2010 due to the PeruPetro extension, decreasing our 2011 estimates as more production is "pulled forward" into 2010. Est. Cash flow in 2010 has been increased from $56 million to $75 million as a result of the date extension.

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