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UPDATE: CK Cooper & Company Initiates Magellan Petroleum Corporation at Buy on CO2 Upside Potential

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CK Cooper & Company initiated Magellan Petroleum Corporation (NASDAQ: MPET) with a Buy rating and a $1.50 price target.

CK Cooper & Company said, "We are initiating coverage on Magellan Petroleum Corporation, (NASDAQ: MPET) a micro-cap E&P with an operational focus in the U.S. and large international exploratory acreage positions in Australia and the U.K., with a BUY rating and a price target of $1.50. Since acquiring its initial interests in the Poplar Field in 2009, the Company is focused on a conventional primary exploitation program, which includes various workover activities with additional upside in a CO2 flood development program. The Company operates the majority of its assets and currently has a strong balance sheet to execute its development strategy."

Magellan Petroleum Corporation closed at $1.08 on Wednesday.

Latest Ratings for MPET

Apr 2015Noble FinancialInitiates Coverage onHold
May 2014Roth CapitalInitiates Coverage onBuy
Feb 2013CK CooperInitiates Coverage onBuy

View More Analyst Ratings for MPET
View the Latest Analyst Ratings

Posted-In: CK Cooper & CompanyAnalyst Color Initiation Analyst Ratings


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