Market reaction: positive. The size of the discovery is more than twice the original estimates of 14-33 mmboe. The discovery is located 13 km away from the Brage and Oseberg Sor platforms. We estimate that the Brasse discovery will add £0.06 to our ReNAV of £0.96 per share (Core NAV of £0.94 per share).
11 Jul 2016
GOOD WELL RESULTS AT BRASSE IN NORWAY
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GOOD WELL RESULTS AT BRASSE IN NORWAY
Faroe Petroleum (FPM:LON) | 0 0 (-0.4%) | Mkt Cap: 371.0m
- Published:
11 Jul 2016 -
Author:
Stephane Foucaud -
Pages:
2
Market reaction: positive. The size of the discovery is more than twice the original estimates of 14-33 mmboe. The discovery is located 13 km away from the Brage and Oseberg Sor platforms. We estimate that the Brasse discovery will add £0.06 to our ReNAV of £0.96 per share (Core NAV of £0.94 per share).