Aktieanalys

Petrolia Noco: Dugong towards first oil in 2027 - ABG

ABG Sundal Collier Publicerad: 30 Mar 2023 12:26

First oil at Dugong estimated in 2027
Promising Løvmeis exploration well to be drilled in Q3'24
Revised fair value range of NOK 1.2-3.0/share

Negative CF in H2'22 supported by equity issue, debt facility

Petrolia Noco reported H2'22 numbers with revenues of NOK 32.8m and EBITDAX of NOK -4m. The increase from H1'22 was driven by a lifting of oil from the Enoch field that included production from both '21 and '22. The company exited '22 with a cash position of NOK 55m (NIBD of NOK 93m), where the liquidity in the period was supported by an equity raise of NOK 30m at NOK 2/sh and a new loan facility secured by a tax refund.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/petrolia-noco/Equity-research/2023/3/petrolia-noco---dugong-towards-first-oil-in-2027/

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