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Samoth Oilfield ( (TSE:LCX) ) has shared an announcement.
Lycos Energy Inc., a company focused on oil production in Alberta, has announced a $60 million asset sale involving its properties in the Lindbergh, Moose Lake, and Fishing Lake areas. This strategic move aims to enhance shareholder value by reducing net debt and distributing a substantial portion of the proceeds as cash dividends to shareholders. The sale will also strengthen Lycos’s financial position, enabling further growth and development opportunities.
The most recent analyst rating on (TSE:LCX) stock is a Buy with a C$2.50 price target. To see the full list of analyst forecasts on Samoth Oilfield stock, see the TSE:LCX Stock Forecast page.
More about Samoth Oilfield
Average Trading Volume: 39,555
Technical Sentiment Signal: Sell
Current Market Cap: C$63.35M
For detailed information about LCX stock, go to TipRanks’ Stock Analysis page.