Feb 15 2008. Feb 29th we saw a price of $12.50.
Petrolifera Petroleum "buy," target price reduced
03/19/08 - Jennings Capital
NEW YORK, March 19 (newratings.com) - Analysts at Jennings Capital maintain their "buy" rating on Petrolifera Petroleum Ltd (P9P). The target price has been reduced from C$17.40 to C$16.50.In a research note published yesterday, the analysts mention that the company's operating costs rose in 4Q on account of lower-than-expected volumes. Petrolifera Petroleum’s cash flows in 2007 were adversely impacted by higher-than-expected taxes, the analysts say. The company’s FD&A costs in the year were higher than the 2005/2006 level partly on account of higher-than-expected facility capex, Jennings Capital adds.
Petrolifera Petroleum rises on reserves increase.
Posted: February 26, 2008, 4:07 PM by David Pett
Energy
Petrolifera Petroleum Ltd. shares were up more than 10% on Tuesday after reporting increased reserves in 2007.
The company said proved resources increased 43% from 10.5 million barrels to 15.1 million barrels of oil, while proved and probable reserves increased 10% from 19.5 million barrels to 21.5 million barrels of oil.
The biggest material increase was in the proved probable and possible reserves category which was not evaluated in 2006. For 2007 the company reported these reserves reached 33.4 million barrels.
The huge short activity will result in PDP exploding up on the next significant news release.
The shorts will have to cover their position fast, since the float is small 50 Million shares, and the current volume at these levels is 22-28,000 shares per day, which is a joke.
The shorts will have to cover their position fast, since the float is small 50 Million shares, and the current volume at these levels is 22-28,000 shares per day, which is a joke.
