Market Reaction: neutral. Though the aggregate increase in resources is good, the figure is similar to what Tullow had recently indicated. More importantly, the increase in resources reflects addition in new areas such as Etom and we are disappointed by the relatively modest increase at Amosing (+33 mmbbl) and what we view as a surprise reduction at Ngamia (-43 mmbbl). Given the results achieved in 2015, we were expecting a very large increase in 2C resources at these two key fields. More positi ....
10 May 2016
2C OIL RESOURCES UPDATE IN KENYA
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2C OIL RESOURCES UPDATE IN KENYA
Africa Oil Corp. (AOI:TSE) | 0 0 0.7% | Mkt Cap: 634.0m
- Published:
10 May 2016 -
Author:
Stephane Foucaud -
Pages:
2
Market Reaction: neutral. Though the aggregate increase in resources is good, the figure is similar to what Tullow had recently indicated. More importantly, the increase in resources reflects addition in new areas such as Etom and we are disappointed by the relatively modest increase at Amosing (+33 mmbbl) and what we view as a surprise reduction at Ngamia (-43 mmbbl). Given the results achieved in 2015, we were expecting a very large increase in 2C resources at these two key fields. More positi ....