The Globe and Mail reports in its Wednesday, Oct. 8, edition that National Bank's Travis Wood believes that Tenaz Energy's acquisition of a private company with working interests in the Gateway to the Ems (GEMS) North Sea project, involving cash proceeds of $323-million and $17-million in common shares, aligns with the company's goal of consolidating its core operating areas to generate value. The Globe's David Leeder writes in the Eye On Equities column that Mr. Wood has reaffirmed his "outperform" recommendation for Tenaz Energy. Mr. Wood gave his share target an $8 boost to $32. Analysts on average target the shares at $28.13. Tenaz shares jumped 31.7 per cent on Monday after a premarket deal announcement. Tenaz believes it will enhance inventory, exposure to TTF, and lower operating costs. Additionally, Tenaz raised its full-year production guidance and capital spending. Mr. Wood says in a note: "GEMS sits on the boundary of the Dutch and German North Sea and provides the company with enhanced exposure to lucrative European natural gas markets. The deal adds 3,200 boe/d [barrels of oil equivalent per day] of net production in 2025, with production from the assets expected to ramp to around 7,000 boe/d in 2026."