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JRNGF - Encouraging Preliminary Duvernay Well Results: Journey Energy
Journey Energy Inc
Journey Energy (OTC:JRNGF) recently announced "Encouraging Test Results" in its emerging East Duvernay resource play. On the current trajectory and at current oil prices, Journey's 100+ potential net drilling locations in the East Duvernay could have NPVs of $4+ million each (and potentially much more) - $400 million of potential NPV, or just over $10 per share, versus a current $2.75 share price and $3.84/share in already producing reserve value excluding the Duvernay. Journey's share price is up a little, with potentially much more to come.