AOI
AFRICA OIL: A VERY LIKELY TO BUYING PROPERTY IN ACCORDANCE WITH CARNEGIE
12:20
STOCKHOLM (AFX) Carnegie believes that Africa Oil is a very likely acquisition targets in the coming years and that the company's license areas in East Africa is one of the world's most attractive oil exploration areas.
It writes the investment bank in an up to date analysis, where coverage begins with buy recommendation and price target of SEK 90.
Oil exploration company has unique assets in Kenya and Ethiopia to be a smaller exploration companies, bank notes, and highlights include the Africa Oil is fortunate when drilling does not need to occur in deep waters or with controversial extraction methods.
The shares had a dismal trend for the last twelve months, says Carnegie with concern for Africa Oil's drilling efficiency and to finance future activities acted wet blanket over the share price.
Carnegie believes that Africa Oil on two or three will be sold altogether, or at least parts of it, because of the extensive development, with associated capital requirements, that could wait a corporation of Africa Oil in context rather small size.
Africa Oil's shares were up more than 3 percent to SEK 55:75 at noon on Friday