Lynden Energy reports results for quarter ending 9/30, 1,664 boe/d!

Lynden Energy Inc. reported their quarterly results today.  Highlights include total production of 153,088 boe and 1,664 boe/d!  This represents a 56% increase over their June 30 results! 

Cormark initiates coverage on Lynden! $2.00 target price!

Cormark Securities, Inc. initiated coverage on Lynden Energy Corp. today.  They have a "Buy" rating and a $2.00 price target.  Some quotes from the coverage:

"The hottest shale play in the U.S."

"Significant discount to larger peers in the Permian" - Currently trading at $72k/boed and $18.50/boe on reserves versus peers at $125k/boed and $31.00/boe.

Cormark says "Trading at a deep discount to US-listed peers in the basin, Lynden Energy represents one of the most attractive investments in our small cap "international" universe.  We expect a material rerating of Lynden in the market near term."

"A relatively small company like Lynden represents an accretive, attractive tuck-in acquisition for many larger players in the area."

"We expect a material rerating of Lynden in the market near term as ... new entrants look for acquisitions with the type of asset base currently held by the company."

Cormark's coverage along with other recent analysis is very bullish on Lynden and concludes that Lynden is currently trading at a deep discount.