DGAP-News: MCW Energy Group Limited: FIRST BERLIN INITIATES COVERAGE ON MCW ENERGY GROUP WITH A 'BUY' RECOMMENDATION AND A PRICE TARGET OF EUR1.10
(firmenpresse) - DGAP-News: MCW Energy Group Limited / Key word(s): Research
Update/Forecast
MCW Energy Group Limited: FIRST BERLIN INITIATES COVERAGE ON MCW
ENERGY GROUP WITH A 'BUY' RECOMMENDATION AND A PRICE TARGET OF EUR1.10
12.12.2011 / 18:30
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FIRST BERLIN INITIATES COVERAGE ON MCW ENERGY GROUP WITH A 'BUY'
RECOMMENDATION AND A PRICE TARGET OF EUR1.10
December 12th, 2011: Shediac, N.B., Canada/Frankfurt, Germany: MCW Energy
Group, a Canadian holding company involved in oil production/distribution
and oil sands recovery technology today announced that First Berlin Equity
Research has completed a comprehensive research report on the Company with
a 'Buy' recommendation. MCW Energy Group shares trade on the Frankfurt
stock exchange open market.
First Berlin's research report recommends MCW Energy Group shares as a
'Buy' with a speculative risk rating. The target price implies investor
returns of up to 83%. First Berlin's report goes on to state, 'Provided
that continuous production can be achieved, we believe MCW Energy's oil
sands extraction business has the potential to achieve gross and EBITDA
margins of 57% and 32% respectively. Sourcing oil inhouse would also allow
the fuel distribution business, MCW Fuels, to widen its margins. Our DCF
valuation model suggests a valuation of EUR1.10 for the stock. A
successful start to oil (sands) production in Utah in early 2012 should
quickly see the shares reach our price target.'
The First Berlin report further states, 'The assessment of MCW Oil Sands
Recovery LLC's technology carried out by the well known Canadian petroleum
engineering consultant, Chapman Engineering, suggests that MCW has made
great progress in addressing the challenges represented by the extraction
of oil from Utah's oil-wet sands. On our forecasts, which are an
extrapolation of MCW's own three year business plan, but also incorporate a
second 10 hour per day production unit from 2014, the lease reserves (50+
million bbl - U.S. DOE) should be sufficient to support production by the
Company until 2017/18.'
MCW Energy Group expects that the linking of its oil production with its
fuel distribution network will provide advantaged pricing, higher profit
margins and enhanced returns to its investors. 'The price level of EUR1.10
for MCW Energy Group's shares is adequate in our opinion. This has now been
confirmed by the report of First Berlin's research analysts. Overall, we
currently see the shares as being significantly undervalued.' stated Dr. R.
Gerald Bailey, new Chief Executive Officer MCW.
First Berlin's Research Report on MCW Energy Group is available in English
on the corporate website: www.mcwenergygroup.com.
First Berlin Equity Research
First Berlin Equity Research is a highly respected, Berlin-based research
firm which provides the institutional investment community with independent
equity research on over 40 companies First Berlin's primary focus is on
small and micro-cap companies with low visibility and high earnings
potential listed on the German stock exchanges or in the pre-IPO stage.
First Berlin receives no compensation from subject companies.
About the MCW Energy Group:
MCW Energy Group is a Canadian holding company with two principal portfolio
companies: the California-based MCW Fuels, establishedin 1938, a leading
distributor of branded and unbranded gasoline and diesel products
throughout the United States, and MCW Oil Sands Recovery, LLC, an oil sands
extraction technology company based in Utah, which is focusing on providing
a new source of domestic oil from America's virtually untapped oil sands
resources. With an ongoing production of oil from its oil sands leases,
the Company intends on becoming a profitable supplier of oil to several
regional refineries. This new revenue stream will provide strategic
leverage for MCW through direct control of oil pricing and supply within
its core distribution network.
For more information, please visit the corporate website:
www.mcwenergygroup.com
Press Contact: North America
Paul Davey
MCW Energy Group
334 Main St., Suite 101
Shediac, NB, E4P2E5 Canada
Tel.: 001 (800) 979-1897
Fax: 001 (866) 571-9615
Mail: info(at)mcwenergygroup.com
Press Contact : Germany&Europe
financial relations gmbh
Tel.: +49 (0)69 95 90 83 -0
Fax: +49 (0)69 95 90 83 99
Mail: info(at)financial-relations.de
The information does not constitute an offer of or an invitation by or on
behalf of MCW Energy Group or any of its subsidiaries to subscribe for or
purchase securities of MCW Energy Group or any of its subsidiaries, but is
provided as a matter of record only.
In particular, the information contained does not constitute an offer of
securities for sale or solicitation of an offer to buy securities in the
United States of America. Securities may not be offered or sold in the
United States of America absent registration or an exemption from
registration under the U.S. Securities Act of 1933, as amended.
End of Corporate News
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12.12.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Datum: 12.12.2011 - 18:30 Uhr
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