Thanks.
Logan market cap is now $401M, with the stock down 3%YTD. It trades at 10X earnings, no dividend. It has no reported debt but not much cash either. Revenue is expected to grow more than 50% this year and next, hitting close to $300M in 2026. EPS 7c to 11c expected next year. We do not see a cash flow projection, but with its production growth it should be decent, though offset by lower market prices somewhat. Production grew more than 30% in the Q1, to close to 10,000 B/d (34% liquids). We would consider management quite competent and insiders own 16% currently. It now has nine analysts following the company, all at BUYS. Average target price is $1.18. Considering its growth, balance sheet, management and valuation, it looks to be a very solid mid-cap in the sector to us.