Overall, the receivable situation is better than we initially thought and a solution may have been found to restore some production while Forcados is still down. New agreements have been made with the Government to reduce the balance of receivables. In the context of the dire financial situation in Nigeria, it remains to be seen if these will be respected. In our view, until there is some visibility on production and Capex, it is very difficult to consider an investment in Seplat's shares.
....28 Jul 2016
NOTES FROM 1H16 CONFERENCE CALL
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NOTES FROM 1H16 CONFERENCE CALL
Seplat Energy PLC (SEPL:LON) | 148 0 0.0% | Mkt Cap: 867.8m
- Published:
28 Jul 2016 -
Author:
Stephane Foucaud -
Pages:
3
Overall, the receivable situation is better than we initially thought and a solution may have been found to restore some production while Forcados is still down. New agreements have been made with the Government to reduce the balance of receivables. In the context of the dire financial situation in Nigeria, it remains to be seen if these will be respected. In our view, until there is some visibility on production and Capex, it is very difficult to consider an investment in Seplat's shares.
....