The company only has one analyst covering the company, which is Haywood Capital Markets. After the news, they upgraded their 12-month price target on the company to C$16 and reiterated their buy rating.
Their analyst is under the impression that this update, “confirms more oil and gas shows.” In the operational update, the company said they found incremental 685 feet of oil and gas shows in a deeper section of the 6-1 well in Namibia. This would take the total to 1,125 feet of hydrocarbon shows. Haywood doesn’t put a lot of attention on the pause and believes that this is just a hiccup.