Amersiur reported May 2018 production volumes of 4,807 bbl/d. For the first five months of 2018 production has averaged 6,133 bbl/d, which is significantly below our prior 1H18e production forecast of 6,800 bbl/d. We have reduced our 2018e and 2019e production forecast, noting the company’s challenges of achieving sustainable production of 7,000 bbl/d. We have reduced our target price to £0.15 per share and rating to REDUCE.
11 Jun 2018
Reducing our production forecast
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Reducing our production forecast
Amersiur reported May 2018 production volumes of 4,807 bbl/d. For the first five months of 2018 production has averaged 6,133 bbl/d, which is significantly below our prior 1H18e production forecast of 6,800 bbl/d. We have reduced our 2018e and 2019e production forecast, noting the company’s challenges of achieving sustainable production of 7,000 bbl/d. We have reduced our target price to £0.15 per share and rating to REDUCE.