RH Petrogas - Taking A Big Swing | I3investor

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RH Petrogas - Taking A Big Swing

StockFanatic

Publish date: Thu, 17 Oct 2013, 05:57 PM

RHP announced this morning that it has begun drilling the Klagalo-1 well to test the huge Klagalo prospect in the Basin PSC. If successful, this could add USD305m to RHP's value. While the Zircon-1 well test has resumed after a slight delay, we believe the resulting 12% share price pullback in the last two days is too sharp a correction for this small problem.

Maintain BUY, with SGD1.33 TP.

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