I am initiating Spyglass Resources (OTCQX:SGLRF), a junior oil & gas company in Canada as a "Strong Buy". Spyglass Resources has a strong asset base and the company is proceeding in the right direction in terms of monetizing the assets and disposing non-core assets.
This initiating coverage will discuss the company's assets, growth strategy, the company's valuation relative to peers and the valuation based on PV10. I believe that this is the right time to initiate Spyglass Resources as the company has embarked on a focused growth plan by selling non-core assets, reducing debt and ensuring a healthy dividend payout.
Before taking the initiation forward, a quick word on the listing - Spyglass Resources has a...
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