Olje og energi

Kingiscash
19.04.2021 kl 09:50 2327

Newsflash fra Pareto:

BW Energy announces that the partners have re-commenced its three-well drilling campaign offshore Gabon, with the Hibiscus Extension well first up. As earlier announced, the partners believe that the discovery could be 3x as large as current 2P reserves. If correct, this can add NOK 10-15/share and NOK 6-9/share to our valuations of BWE and PEN, respectively. Thereafter, the partners will drill and complete the last well of the Tortue ph.2 development to increase production to >15,000 bbl/day. Lastly, the rig will drill the Hibiscus North prospect providing further upside potential to our valuations of BWE (unrisked pot. NOK 5/share) and PEN (unrisked pot. NOK 3/share). Both companies trade at large discounts to our valuations, which we think is due to previous uncertainty on when actively can resume at Dussafu and subsequent lack of new flow. This should now be addressed, and we continue to highlight the companies among our top picks in the E&P sector.

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