Lundin Petroleum: Present drilling results up to 10kr / share – Analyst
2015-08-05 13:41
(SIX) oil company Lundin Petroleum today announced positive results from an appraisal well in the southeastern part of the large oilfield Edvard Grieg in Norwegian North Sea. With a possible extension of the reserves of the oilfield around 25 percent, corresponding to 50 million barrel would, in DNB's analysts meet a present value on the "up to SEK 10 per share. " It says DNB analyst Helge André Martinsen SIX News and points out that we must await the next report on the reserves to see how these are affected by today's drilling. At the same time presented Lundin Petroleum production for Brynhild field, as in the first half that were over 60 percent in the company's own expectations. The present value of the negative effect of Brynhild assessed by DNB Analyst lie on the "3 to 4 crowns" per share. Overall, Helge André Martinsen surprised to share slopes so much today, given the positive results from appraisal well. Initially, the DNB assumed that the shares would open down 3-5 percent only on the basis of the report, where the effect of the positive appraisal well was not considered. Lundin Petroleum's EBITDA of $ 107 million (172) for the second quarter came in the morning in 14 percent below expectations according SIX News / Inquiry Financials analyst survey. The oil company lowered Moreover, the production forecast for the year to 32,000 barrels per day average from the previous range of 41,000 to 51,000 barrels per day. The production forecast for the end of 2015 was submitted remained unchanged at 75,000 barrels per day. Lundin Petroleum has currently dropped 5.0 percent to 119.50 crowns. Magnus Bernet +46 8586163 85 mailto: magnus.bernet@six-group.se www.blogg.six.seSIXNews SIX News
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