EL
Don't think Gigir is a company maker or breaker. The decision says less about Gigir than what Nations think of the rest of the permit imo.
In regard to Kurnia, I have never blamed COE for the overspend, there were gas shows to surface, I think it was necessary to pursue it further as a commercial gas discovery would have added alot of value.
admittedly, the haven't had much luck with their international assets, is it bad judgement, perhaps but I put it down to bad luck
Personally, I still think its a relative buy in the O&G sector, but at present its a little cheap vs very cheap and in this market I would only re enter with gusto if its very cheap which is sub 40s. Having said this I recognise it may not get there if they have success in Gigir, or big success in the mid year PEL92 mid year campaign
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Price($) | Vol. | No. |
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