Tuscany Energy Ltd. (TUS:TSX-V) - August 22nd 2014
In mid-2013 Tuscany completed the acquisition of Diaz Resources Ltd. almost doubling the size of the company. Production is currently averaging approximately 750 boe/d, and Tuscany has set out an aggressive capex program for the remainder of 2014. In addition, the company holds an exciting high impact area where it will be drilling its first well in the last quarter of 2014. This play has the potential to host as many as 14 wells. Tuscany is presently trading at just 2.2 times its trailing annualized cash flow and at less than $24,000 per flowing boe.