AFRICA OIL: CEO PRESENTATION BOOSTS POSITIVE VIEW - NORDEA
STOCKHOLM ( AFX) Africa Oil's CEO Keith Hills presentation on Thursday evening in Stockholm strengthen Nordea's positive outlook and strong buy recommendation on the oil company . The Bank writes in a comment to the presentation that Keith Hill gave at Berns in Stockholm on Thursday evening , where he gave updates about the company's drilling plans in Africa. The outlook he presented supports our strong positive ( bullish ) view of the share and the huge upside, writes the bank. Among the main lessons from the presentation list Nordea: * Multiple drilling results teaches presented in about two weeks. There is , for example, test results from Ekales , evaluation results from the Twiga South and possibly exploration results from Emong in Lokicharbassängen and from Sasa in Anzabassängen . * An updated resource report from Gaffney, Cline and Associates are expected in early May. * A infarmningsaffär in Somalia through the 45- percent owned Horn Petroleum seems to be imminent. * More oil discovery in Lokicharbassängen than they have so far made seven discoveries are likely. Keith Hill expressed great confidence that , to put it mildly , that Nordea writes. * The company is expected to drill 20 wells in 2014. * Oil production is expected at the time of 4-5 years . Nordea strongly recommend the purchase of Nordea , with a target price of SEK 85 in an analysis dated March 11. Martin Lindgren +46 8 5191 7920 Direkt