MEG's IPO Could Yield High Values For GPOR

Gulfport Energy Corporation

owns a 25% stake in privately held Grizzly Oil Sands that has been overlooked by investors, according to Wunderlich, which could be worth $18.00/share if the same equations are applied as MEG Energy Corp.

. MEG's IPO has been priced at C$700M, roughly 10% of the company's worth. Using the same metrics would put a value of over $800M on GPOR's Grizzly investment alone, Wunderlich reports. Wunderlich maintains its $17 price target and "buy" rating on GPOR based on its production of U.S. properties, and it is believed that the stake in Canada could increase stock value. Gulfport Energy Corporation closed yesterday at $12.95.