RE: PEC receiving coverage in portuguese media Thanks Uberlandia ...some of the translation...
In a statement, the company warns that is still working on a "primary zone" and that "the final results" are yet to ascertain. THE Porto Energy anticipates that the operations of drilling of well ALC-1 reaches the full depth in two weeks." "initial discoveries in this well seem encouraging", consider the analysts of the BESI.
This concession does nothing for the evaluation that the BESI has to Galp Energia, by which analysts admit that "any discovery can have a positive impact in the target price". The house of investment emphasizes that the success of this pit can dictate the operation of more two to three wells in 2013.
THE BESI emphasizes that despite the resources coming from the well that is being explored are "relatively minor", the Galp has a participation of 50% and the contractual terms in Portugal are "attractive" due to low taxes that are associated with. "We still have a high expectation from well and we are encouraged by preliminary discoveries", stresses the CEO of Porto Energy, Joseph Ash, quoted in the press release issued. The actions of Galp rise 0.63 % to 12.82 euros.