Tuscany Energy, $0.17, symbol TUS on Toronto (Shares outstanding: 125.2 million; Market cap: $21.3 million, www.tuscanyenergy.com), is a junior oil and gas exploration and development company that operates in western Canada. Right now, it gets most of its revenue by producing oil in Saskatchewan.
In the three months ended September 30, 2011, Tuscany’s cash flow was $1.4 million, or $0.02 a share. That’s up sharply from $340,000 or $0.01 a share, a year earlier. That’s because the company raised its production (89% oil, 11% gas) by 53.1%, to 219 barrels of oil equivalent per day from 143 barrels.
Tuscany holds cash of $3.5 million, or $0.03 a share, and has no debt. The shares trade at just 1.4 times the company’s cash flow per share, based on the latest quarter, but it needs to keep successfully drilling new wells to maintain or increase that cash flow. However, Tuscany has identified over 170 drilling locations on its properties.
Thinly traded Tuscany Energy shares are…
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