Reabold has announced a successful appraisal result at West Newton, with better than expected reservoir parameters and a greater liquid:gas ratio than expected, suggesting material potential upside to prior NPV estimates on both resource estimate and NPV/bbl terms. The partners will update volumes in due course, with flow testing expected to occur in Q319. We increase our RENAV from 3.1p to 4.0p and reiterate our BUY recommendation.
17 Jun 2019
Successful appraisal well
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Successful appraisal well
Reabold Resources plc (RBD:LON) | 0.1 0 (-8.3%) | Mkt Cap: 8.41m
- Published:
17 Jun 2019 -
Author:
Jessica Saadat -
Pages:
7
Reabold has announced a successful appraisal result at West Newton, with better than expected reservoir parameters and a greater liquid:gas ratio than expected, suggesting material potential upside to prior NPV estimates on both resource estimate and NPV/bbl terms. The partners will update volumes in due course, with flow testing expected to occur in Q319. We increase our RENAV from 3.1p to 4.0p and reiterate our BUY recommendation.