Tuesday, December 21, 2010

Dundee says Canadian Spirit is "Significantly Undervalued"

Dundee Securities issued research on Canadian Spirit Resources Inc. (SPI) today titled "Talisman Farrell Creek Joint Venture Provides Valuation Data Point." They state, "given that Canadian Spirit's Farrell Creek Montney play directly offsets Talisman's, we see this transaction as a direct data point and use it to provide investors with a sense of Canadian Spirit's current valuation."

Implied valuation metrics from the Talisman deal applied to SPI result in a per share value of up to $7.44 according to Dundee.

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