Canaccord Genuity Maintains a 'Buy' on GeoResources (GEOI); Concentrated Leverage to Most Prolific Liquids-Oriented Resource Plays

Canaccord Genuity maintains a 'Buy' on GeoResources (NASDAQ: GEOI) price target of $41.00.

Analyst, John Gerdes, said, "GeoResources presents concentrated leverage to two of the most prolific liquids-oriented resource plays in the country: the South Texas Eagle Ford Shale and the Williston Basin Bakken Shale. Combined, we estimate GeoResource’s unrisked resource potential in these plays is ~80 Mmboe, which is over 3x the company’s ’10 proved reserves. As to catalysts, we believe the company’s modified completion design in the Eagle Ford has a high probability of improving go-forward well results (initial wells recover 300 Mboe for $8+ million). In the Bakken, the company is attempting to add acreage in higher productivity areas west of the Nesson anticline by leveraging its third rig (Q2/12 start) and pursing acreage swaps."

For an analyst ratings summary and ratings history on GeoResources click here. For more ratings news on GeoResources click here.

Shares of GeoResources closed at $28.39 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Viking Holdings (VIK) PT Raised to $82 at Mizuho
• Clear Street Reiterates Buy Rating on Anterix Inc. (ATEX)
• Walmart (WMT) PT Lowered to $125 at JPMorgan, Overweight Rating Maintained as 'Short Case Feels Greedy'