We are increasing our target price on PetroTal from £0.45 per share to £0.50 per share following the strong result of the BN 95-4H well. In our view, the initial flow rate of 6.2 mbbl/d combined with lower than expected drilling costs demonstrates the potential of horizontal wells to develop the field with better economics, shorter pay back and potentially more reserves.
With current production of already 7.8 mbbl/d constrained by surface facilities, PetroTal is well on track to deliver 10 ....
22 Oct 2019
Increasingly gearing towards the 3P case
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Increasingly gearing towards the 3P case
PetroTal Corp. (PTAL:LON) | 44.0 0 0.0% | Mkt Cap: 404.5m
- Published:
22 Oct 2019 -
Author:
Stephane Foucaud -
Pages:
4
We are increasing our target price on PetroTal from £0.45 per share to £0.50 per share following the strong result of the BN 95-4H well. In our view, the initial flow rate of 6.2 mbbl/d combined with lower than expected drilling costs demonstrates the potential of horizontal wells to develop the field with better economics, shorter pay back and potentially more reserves.
With current production of already 7.8 mbbl/d constrained by surface facilities, PetroTal is well on track to deliver 10 ....