Jennings Capital Initiates Coverage on Ceiba Energy Services with a Speculative Buy Recommendation - Video Research Alert on InvestmentPitch.com

Vancouver, British Columbia--(Newsfile Corp. - September 10, 2014) - Jennings Capital has initiated coverage on Ceiba Energy Services (TSXV: CEB). Analyst Russell Stanley gives the company a speculative buy recommendation and a 12-month target price of $1.25, a premium of 16% to the $1.08 price on August 27th when the report was issued.

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Ceiba currently provides custom treating of oil emulsion and disposal of produced water. The company develops and constructs facilities in proximity to their customers to provide treatment of their crude oil emulsion, terminalling, storage & marketing of their oil products and disposal of production water.

Ceiba currently operates from six locations in central and northwest Alberta, with plans for two more locations before the end of the first quarter of 2015.

Oil and gas exploration and production companies are increasingly outsourcing their processing, recovery and disposal requirements in order to focus on exploration and production activity. In addition, increasing use of directional drilling technologies and hydraulic fracturing is driving up water usage by exploration and production companies.

By upgrading its licences, the company also plans to expand its service capability to cover a larger variety of waste water streams, including and especially, frac flowback water.

December 2012 was a major turning point for the company. A new management team was introduced, which included Ian Simister as President, Richard Lane as COO, and Jim Coughlan as SVP of Sales and Business Development, adding significant industry expertise and relationships.

In February 2014, the company acquired Cam-Star Resources for $2.5 million, funded from a $2.6 million private placement at $0.40 per unit. This provided Ceiba with three additional, operating Class II Disposal Wells.

The Company further strengthened its team with the addition of Ron Sifton, former EVP and CFO of Newalta Corporation, to its board.

Analyst Russell Stanley stated: "With a strong management team now in place, and beachheads established in key regions with significant customers, we believe CEB is well positioned to expand rapidly via organic and acquisition growth."

Ceiba's shares currently trade at $1.07, and with 123.8 million shares outstanding, the company is capitalized at $132.5 million.

For more information please visit the company's website at www.ceibaenergy.com or contact Ian Simister, President, at 403-262-2783 or email info@ceibaenergy.com.

For more information about Jennings Capital or to obtain a copy of their research report, contact your nearest Jennings Capital office. Their branches are listed on their website at www.jenningscapital.com.

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