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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (130858)	9/16/2022 3:54:46 PM
From: Goose94	Read Replies (1) \| Respond to of 202924

Baytex Energy (BTE-T) revisited Eric Nuttall on BNN.ca Market Call Friday September 16th @ 1200ET Baytex has drilled nine of the 10 best wells in the Clearwater play, the most economic oil play in North America, with wells paying out in about one month. Trading at 1.8x EV/CF and a 39 per cent free cash flow yield at US$100 WTI, we do not think the market is ascribing a deserved premium (or even market) multiple for its asset quality. With the company rapidly deleveraging, hitting its next debt target by first-quarter 2023, Baytex will be able to buy back 99MM shares in 2023 at the current share price = 18 per cent of shares outstanding. We think fair value = 5x = $19.47 = 197 per cent potential upside at US$100 WTI.