And an update from Macquarie for Outperform
Macquarie 26-Mar-13
The Emu-1 well, Santos Basin, Brazil, has been found to be water bearing. Macquarie notes funding pressures are building and Pacific Rubiales will be making a decision soon on whether to take a stake in Bilby prospect. For Macquarie, with the near-term optimism fading on the Brazilian drilling, the focus turns to Poseidon. The broker believes Poseidon and the Kangaroo discovery underpin the current share price.
The rating stays at Outperform and the price target is $9 from $10.
Outperform
And an update from Macquarie for OutperformMacquarie 26-Mar-13...
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