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National Bank Financial has initiated coverage on Kicking Horse Energy (TSXV: KCK)

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National Bank Financial has initiated coverage on Kicking Horse Energy, symbol KCK on the TSX Venture Exchange, with analyst Brian Milne giving an outperform rating and price target of $5.00, a premium of 53% to the $3.26 price on May 20th the day the report was issued.

Additional Information:

Company: Kicking Horse Energy
Website: http://kickinghorseenergy.com/
Stock Symbol: TSXV: KCK
Date Published: May 27, 2015
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for InvestmentPitch.com

National Bank Financial has initiated coverage on Kicking Horse Energy, symbol KCK on the TSX Venture Exchange, with analyst Brian Milne giving an outperform rating and price target of $5.00, a premium of 53% to the $3.26 price on May 20th the day the report was issued.

The company was formed in December 2014 through the combination of Contact Exploration and Donnycreek Energy.

Kicking Horse is an oil and gas company with extensive land and producing assets in the Deep Basin of Alberta.

The company holds a 75% working interest in the East Kakwa field and ownership in over 350 net sections of Deep Basin properties.

East Coast projects include a minority interest in a proposed liquefied natural gas terminal in Nova Scotia and ownership in emerging oil and gas plays in New Brunswick, which are currently at a standstill due to a recently announced fracking moratorium.

Since the end of April 2015, 3 previously completed new wells have been brought onto production bringing current production to approximately 4,000 barrels of oil equivalent per day.

Subsequent to the end of the quarter, the company has hedged 300 barrels per day of production at $75.05 per barrel from June 1, 2015 to December 31, 2015.

Analyst Brian Milne stated: “Based on our 2016 estimates, Kicking Horse should post debt-adjusted production per share growth of 37%, all while maintaining a healthy balance sheet and ample credit capacity.”

The company currently trades at $3.55, well below the $5.00 target price, and with 60.1 million shares outstanding, the company is capitalized at $213 million.

For more information, please visit the company’s website www.kickinghorseenergy.com or contact Steve Harding, President and CEO, at 403-771-1091 or email sharding@kickinghorseenergy.com.

For more information about National Bank Financial or to obtain a copy of their research report, contact your nearest National Bank Financial office. Their branches are listed on their website at www.nbf.ca.

I’m Samantha Deutscher for InvestmentPitch.com
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