Reabold has announced this morning that the VG#3 well in California was successfully tested, and that facilities are now being prepared to accommodate production of over 200bopd and 60mmscfd. We had been assuming 100bopd so we increase our RENAV (and PT) from 2.6p to 2.7p given the much better than expected production rate. We reiterate our BUY recommendation.
20 Sep 2018
Successful Cali test
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Successful Cali test
Reabold Resources plc (RBD:LON) | 0.1 0 0.0% | Mkt Cap: 8.41m
- Published:
20 Sep 2018 -
Author:
Jessica Saadat -
Pages:
3
Reabold has announced this morning that the VG#3 well in California was successfully tested, and that facilities are now being prepared to accommodate production of over 200bopd and 60mmscfd. We had been assuming 100bopd so we increase our RENAV (and PT) from 2.6p to 2.7p given the much better than expected production rate. We reiterate our BUY recommendation.