Market Reaction: slightly positive. Given that we were carrying Eagle as a larger prospect (20 mmbbl gross resources with a 35% CoS), the discovery of 6 mmbbl is neutral to our valuation. However, we believe that investors might welcome the addition of a few mmbbl of reserves. Our Unriked NAV for Eagle was £0.02 per share with a ReNAV of £0.01 per share.
01 Jul 2016
ENCOURAGING DRILLING RSULTS IN THE UK NORTH SEA
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
ENCOURAGING DRILLING RSULTS IN THE UK NORTH SEA
EnQuest PLC (ENQ:LON) | 14.1 0 0.0% | Mkt Cap: 269.7m
- Published:
01 Jul 2016 -
Author:
Stephane Foucaud -
Pages:
2
Market Reaction: slightly positive. Given that we were carrying Eagle as a larger prospect (20 mmbbl gross resources with a 35% CoS), the discovery of 6 mmbbl is neutral to our valuation. However, we believe that investors might welcome the addition of a few mmbbl of reserves. Our Unriked NAV for Eagle was £0.02 per share with a ReNAV of £0.01 per share.