RH Petrogas May Benefit From Some Drilling Catalysts in 2023 -- Market Talk

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RH Petrogas May Benefit From Some Drilling Catalysts in 2023 -- Market Talk

Dow Jones2023-04-10

0152 GMT - RH Petrogas may benefit from some drilling catalysts in 2023, says UOB Kay Hian analyst Adrian Loh in a research report, as the brokerage initiates coverage of the stock with a buy rating and a target price of S$0.255. The Singapore-listed oil and gas company plans to drill exploration and development wells at Kepala Burung Production Sharing Contract and an exploration well at Salawati PSC, the analyst notes. According to the company, its seismic data shows its exploration well at Kepala Burung PSC will target 1.8 trillion cubic feet of natural gas, which would be notable to a company of RH Petrogas' size, the analyst adds. Shares are unchanged at S$0.200. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

April 09, 2023 21:52 ET (01:52 GMT)

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·2023-05-05
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