RE:Pareto Securities says SEK 14
Translation:
STOCKHOLM (Newsbyrn Direkt) The announcement that Africa Oil's staked company Prime Oil & Gas is being given three terms in line with the question, and is being relieved of the shares that have been under pressure during the first period of time.
Pareto writes in a commentary, pointing out that the oil company's stock has recently backed down in the spren of weak oil prices, which has led to growing concerns about lnefacility conditions.
After the news, we have smaller changes in our estimates and we continue to receive similar amortization amounts from 2021-2022, as for the current year, writes the analysis house.
Furthermore, Pareto flags that Africa Oil's first share trigger comes after results from Africa Energy's drilling at the Luiperd well that was currently writing. Drilling results will come in October.
Africa Oil r Africa Energy's company with a 31 percent stake in the share capital, according to gardatatjnsten Holdings.
Pareto has a kprekommendation p Africa Oil with a target price of SEK 14.
Just after 10 a.m. on Thursday, the stock was up 2.7 percent to 6:50 a.m.