• The high impact Hibiscus extension appraisal well did not encounter hydrocarbons. Our ReNAV for this well was NOK3.60 per share that we have now removed.
• The well result has no impact on the existing 2P reserves (with Hibiscus remaining a very robust project), nor the production profile.
• The view on the prospectivity of the Gabonese block is also unchanged.
• We have reduced our target price from NOK35 per share to NOK32 per share.
• Our Core NAV of NOK25 per share is unchanged and any di ....
06 May 2021
Panoro Energy ASA (OSE: PEN): Dry hole in Gabon – Buy on dips
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Panoro Energy ASA (OSE: PEN): Dry hole in Gabon – Buy on dips
- Published:
06 May 2021 -
Author:
Stephane Foucaud -
Pages:
5
• The high impact Hibiscus extension appraisal well did not encounter hydrocarbons. Our ReNAV for this well was NOK3.60 per share that we have now removed.
• The well result has no impact on the existing 2P reserves (with Hibiscus remaining a very robust project), nor the production profile.
• The view on the prospectivity of the Gabonese block is also unchanged.
• We have reduced our target price from NOK35 per share to NOK32 per share.
• Our Core NAV of NOK25 per share is unchanged and any di ....