GMP Securities issued a report on Canada Energy Partners Inc. (CE) on February 12. They see significant value in CE's Montney lands. "The bigger upside potential in this story in our opinion comes from CE's deeper rights in the area that are in the heart of some of the most highly watched Montney drilling activity in north eastern British Columbia."
Another nice example of an analyst seeing upside potential of a company developing the Montney shale in NE BC. CE is Canadian Spirit Resources Inc.'s (SPI) neighbor to the south.
It's also worth noting that GMP sees value for CE's CBM project. They state the CE is "encouraged by the initial gas flow rates." GMP also stated that "management expects the gas volumes to increase for several years before peaking and rolling over into a long shallow decline."
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