Market reaction: negative on what appears to be a reduction of forecasted Net Cash by YE16. While we would have expected the YE16 Net Cash Guidance to almost increase in line with the US$10-30 mm latest capex guidance reduction (reduction of US$50 mm versus the guidance of early 2016), YE16 Net Cash guidance has instead dropped by US$50 mm. A presentation is taking place today at 09:30 am UK time
15 Sep 2016
1H16 RESULTS - LOW NET CASH, FID AT FORTUNA STILL ANTICIPATED BY YE16
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1H16 RESULTS - LOW NET CASH, FID AT FORTUNA STILL ANTICIPATED BY YE16
Ophir Energy (OPHR:LON) | 0 0 1.6% | Mkt Cap: 402.5m
- Published:
15 Sep 2016 -
Author:
Stephane Foucaud -
Pages:
2
Market reaction: negative on what appears to be a reduction of forecasted Net Cash by YE16. While we would have expected the YE16 Net Cash Guidance to almost increase in line with the US$10-30 mm latest capex guidance reduction (reduction of US$50 mm versus the guidance of early 2016), YE16 Net Cash guidance has instead dropped by US$50 mm. A presentation is taking place today at 09:30 am UK time