Dundee Securities Initiates Buy rating and Target Share Price for Wild Stream Exploration


Investment bank Dundee Securities recently began covering Wild Stream Exploration (WSX:TSXV) and provided it with a Buy rating and a target share price of C$14.50. The company has reached a 52-week high/low of C$12.70 and C$6.43. It closed Sept 14 at $10.28.

The most recent asset acquisition in the Shaunavon and Dodsland plays in southwest Saskatchewan increased production by 1,800 boe/d to more than 5,000 boe/d, a 50 percent increase. Wild Stream is also engaged in secondary recovery schemes in both the Viking oil formations.

Dundee's target share price for Wild Stream was based on various factors including the management team's history of building value in similar organizations, the potential for the company's drilling programs to increase share price by more than 50 percent over their current value and plans to produce more oil from already existing operations.