Research Report
Streetwise Reports (3/1/21) How the acquisition is expected to positively impact Panoro Energy is discussed in a Pareto Securities report.
In a Feb. 23 research note, analyst Tom Erik Kristiansen reported that Pareto Securities raised its target price on Panoro Energy ASA (PEN:OSE; 1PZ:FRA) to NOK30 from NOK21 because the full accretive effect of the company s recent acquisition is yet to be realized. Panoro s current share price is NOK18.
Kristiansen highlighted the benefits of the transaction to the Norway-headquartered oil and gas company, a Pareto Securities Top Pick in the exploration and production (E&P) space.
One, its recently acquired producing assets from Tullow will increase Panoro s production fourfold, to 9,400 barrels of oil per day (9.4 Mboe/d) this year. Production is expected to grow another 30% to more than 12 Mboe/d in 2023 and 2024. The new Ceiba and Okume fields (14.25% working interest) in Equatorial Guinea and the Dussafu block (