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|Includes: Transglobe Energy Corp (TGA)
Very excited to hear production guidance for Q3 and Q4. The water flood of the lower Nukhul will increase production and reserves however its oil is only API degree of around 19 so its gets a brent Minus price model.West Bakr will add reserves and 1.1k production(around 20 degree API(Brent minus))..once West Bakr is approved, TGA will use enhanced production techniques to increase production. Whats exciting is the Yemen coming back online with 43degree API which will get the full Brent Price. Also the East Ghazalat in the 4th qtr will provide extra 1k bopd with around 38 degree API(full brent price). Also South Alamein acquisition will add 1700 bopd with around 39 degree api(full brent price)....Love that majority of production increase should recieve full Brent...Great company at a current price of $9.13....current market cap vs year end projection of 20k bopd would have tga trading at 33k/bopd..undervalued compared to indutry average