We reiterate our Buy rating on Andes Energia following 2015 operating and financial results that demonstrate a strong performance in what has been a very weak environment for the oil and gas sector. We expect that strong production growth in Chachahuen will be key in almost trebling EBITDA by 2018, relative to 2015. With investor sentiment toward Argentina improving, we highlight that Andes is trading at a 24% discount to our core NAV of 24.4p which itself attributes no value to its 250,000 n
24 May 2016
FY15 results highlight operational progress
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FY15 results highlight operational progress
- Published:
24 May 2016 -
Author:
Mark Henderson -
Pages:
9
We reiterate our Buy rating on Andes Energia following 2015 operating and financial results that demonstrate a strong performance in what has been a very weak environment for the oil and gas sector. We expect that strong production growth in Chachahuen will be key in almost trebling EBITDA by 2018, relative to 2015. With investor sentiment toward Argentina improving, we highlight that Andes is trading at a 24% discount to our core NAV of 24.4p which itself attributes no value to its 250,000 n