BALTIMORE, MD -- (Marketwired) -- 07/16/13 -- Goldman Small Cap Research, a stock market research firm focused on the small cap and microcap sectors, has initiated research coverage of Daybreak Oil and Gas, Inc. (OTCQB: DBRM) an independent oil exploration and production company that has 18 oil producing wells with 5 more development wells coming online in the fall.
Daybreak, along with partners, owns a 3-D seismic survey encompassing 20,000 acres over 32 square miles with approximately 13,000 acres under lease in the San Joaquin Valley. The property is in the same region as the Occidental Petroleum discovery which is considered the largest California oil discovery in decades, potentially yielding hundreds of millions of barrels of oil. Daybreak has nearly 300,000 barrels of proved oil reserves and on a net working interest basis, 3.8 million gross potential recoverable oil reserves.
In the Goldman Opportunity Research report on the Company, analyst Rob Goldman outlines his investment thesis.
"Daybreak arguably has some of the most enviable financial metrics in the entire industry. DBRM has hit on 100% of its development wells, may have the lowest operating costs at $18/per barrel, and is paid a premium on the prevailing West Texas Crude prices. DBRM management may also be one of the most conservative and shareholder friendly operators that we have ever come across. With its infrastructure already in place, and new wells coming online to nearly double revenue this year and achieve quarterly operating cash flow profitability, DBRM may be the most undervalued oil and gas play in the market."
To view the report and its disclaimers, or to download the report in its entirety, please visit www.goldmanresearch.com
About Goldman Small Cap Research: Led by former Piper Jaffray analyst and mutual fund manager Rob Goldman, Goldman Small Cap Research produces small cap and micro cap stock research reports, daily stock market blogs, and popular investment newsletters. For more information, visit www.goldmanresearch.com.
A Goldman Small Cap Research report is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed. Please read the report's full disclosures and analyst background on our website before investing. Neither Goldman Small Cap Research nor its parent is a registered investment adviser or broker-dealer with FINRA or any other agency. To download our research, view our disclosures, or for more information, visit www.goldmanresearch.com.
About Daybreak and Gas, Inc.: Daybreak Oil and Gas, Inc. (OTCQB: DBRM) is an independent oil and gas company engaged in the exploration, development and production of oil and gas in California. The Company is headquartered in Spokane, Washington with an operations office in Friendswood, Texas. Daybreak owns a 3-D seismic survey that encompasses 20,000 acres over 32 square miles with approximately 13,000 acres under lease in the San Joaquin Valley of California.
For more information, please visit http://www.daybreakoilandgas.com.
Goldman Small Cap Research
Most Popular Stories
- Major Phone Makers Sign Anti-Phone-Theft Pledge
- College Board Offers a Sneak Peak at New SAT
- 'Beige Book' Federal Reserve Survey, April 2014: Full Text
- Salsa Legend Cheo Feliciano Killed in Car Crash
- Miss. Gov. Signs Bills to Curb Unions
- New Auto Plant to Create 155 Jobs in Kentucky
- Google Q1 Earnings Dip as Ad Prices Slip
- Generating Solar Power in the Dark
- Earthlike Planet Found in Red Dwarf's Goldilocks Zone
- Hiring and Weekly Jobless Claims Both Edge Up