RH Petrogas - Finally, a Successful Well | I3investor

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RH Petrogas - Finally, a Successful Well

StockFanatic

Publish date: Sat, 22 Feb 2014, 07:02 PM

RH Petrogas' announced the success of its Koi-2 appraisal well, having delineated the field with 4mmbo net resources. It will move ahead to the next stage, with the end goal of bringing Koi-2 to production. We continue to like this stock for its deep under-valuation vs its strong asset backing, and note a series of NPV-positive 2P-upgrade catalysts that are likely to materialise in FY14.

Maintain BUY, with SGD1.23 TP.

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