We reiterate our Buy rating and increase our target price for Oilex to 8.3p following our recent site visit to India. We were impressed with the quality of operations and the calibre, professionalism and experience of the senior management team based in India. The next 12 months is set to be a busy period for Oilex, with two firm horizontal, multi-frac wells and five workover wells scheduled. We expect the company to grow production to roughly 1,400boepd net over the course of the next 12-15
18 Sep 2015
Indian site visit
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Indian site visit
Synergia Energy Ltd (SYN:LON) | 0.1 0 (-2.2%) | Mkt Cap: 11.7m
- Published:
18 Sep 2015 -
Author:
Mark Henderson -
Pages:
10
We reiterate our Buy rating and increase our target price for Oilex to 8.3p following our recent site visit to India. We were impressed with the quality of operations and the calibre, professionalism and experience of the senior management team based in India. The next 12 months is set to be a busy period for Oilex, with two firm horizontal, multi-frac wells and five workover wells scheduled. We expect the company to grow production to roughly 1,400boepd net over the course of the next 12-15