We initiate coverage of Ascent Resources with a Buy rating and 3.3p target price. Ascent is operating the Petisovci tight gas field in Slovenia, which is projected to produce 35mmcfd by 2021, equivalent to roughly 40% of total Slovenian gas demand, and will likely displace expensive, imported Russian gas. Notwithstanding uncertainties regarding well productivity and short-term funding, the market is valuing Ascent’s gas resources at a significant discount to our very conservative risked
13 Sep 2016
Displacing Russian Gas
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Displacing Russian Gas
Ascent Resources plc (AST:LON) | 2.4 0 0.0% | Mkt Cap: 4.90m
- Published:
13 Sep 2016 -
Author:
Mark Henderson -
Pages:
24
We initiate coverage of Ascent Resources with a Buy rating and 3.3p target price. Ascent is operating the Petisovci tight gas field in Slovenia, which is projected to produce 35mmcfd by 2021, equivalent to roughly 40% of total Slovenian gas demand, and will likely displace expensive, imported Russian gas. Notwithstanding uncertainties regarding well productivity and short-term funding, the market is valuing Ascent’s gas resources at a significant discount to our very conservative risked