The Globe and Mail reports in its Friday, March 7, edition that RBC Dominion Securities analyst Greg Pardy is sticking with his "sector perform" ranking for Parex Resources. The Globe's David Leeder writes in the Eye On Equities column that Mr. Pardy elevated his share target to $16 from $15. Analysts on average target the shares at $19.34. Parex is a conventional explorer focused on Colombia "with an enviable track record in years past." Mr. Pardy thinks Parex is "regaining its operational momentum following disappointing results in 2024." Mr. Pardy says in a note: "In our minds, job one for Parex in 2025 remains to convert a differentiated conventional exploration story into a compelling investment case. ... In 2024, Parex replaced 98 per cent of its production of 18.3 mmboe with proven reserves at an all-in FD&A cost of $24.75/boe. About 57 per cent (10.2 mmboe) of these reserve additions were related to acquisitions. The company highlighted a number of positive reserve additions at LLA-34, Cabrestero, LLA-32 and Putumayo in the year which helped to offset the impact of negative revisions at Arauca, as well as a non-core block in the Magdalena basin. Parex's proven RLI stands at 6.8 years (up from 5.4 years in 2023)."