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Europa Oil & Gas (EOG): Wressle moves a step closer
- Share price (p) 3.0
- Target price (p) 40.9
- Market cap (£m) 14.1
- Enterprise value (£m) 12.3
The application for planning consent for the development of the Wressle oil field has received a recommendation for approval. This field has the potential to double Europa’s production and it just moved a step closer. The application will be considered by the Planning Committee later this month, approval could accelerate start-up by 12 months to mid-2019, bringing welcome production and cash flow.
President Energy (PPC): First development well smashes expectations
- Share price (p) 9.2
- Target price (p) 18.0
- Market cap (£m) 99.4
- Enterprise value (£m) 114.3
The operational delivery keeps coming as President smashes expectations with its first Puesto Flores development well. Early indications suggest that the second well is set to follow suit too. The economics of these wells are exceptional, and if replicated across the entire three well programme should drive estimate upgrades and see President surpassing its year-end production guidance. President is building up a head of steam as its operations expand, with numerous organic and inorganic growth opportunities set to drive growth and value in 2019 and beyond.
Jonathan Wright | email@example.com