Market Reaction: Neutral. While cash remains healthy, we await the bigger piece of newsflow on a potential Reserves upgrade which, along with timing of first oil, could unlock up to a US$405 mm development carry from Maersk. As at 31st December the Company had cash of US$104 mm (FCCe US$82 mm) and no debt. The higher than expected cash position is largely down to our aggressive forecast on exploration capex. As previously announced, a draft Field Development Plan was submitted in December and pr ....
29 Feb 2016
FY15 RESULTS
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FY15 RESULTS
Africa Oil Corp. (AOI:TSE) | 0 0 0.7% | Mkt Cap: 634.0m
- Published:
29 Feb 2016 -
Author:
Stephane Foucaud -
Pages:
2
Market Reaction: Neutral. While cash remains healthy, we await the bigger piece of newsflow on a potential Reserves upgrade which, along with timing of first oil, could unlock up to a US$405 mm development carry from Maersk. As at 31st December the Company had cash of US$104 mm (FCCe US$82 mm) and no debt. The higher than expected cash position is largely down to our aggressive forecast on exploration capex. As previously announced, a draft Field Development Plan was submitted in December and pr ....