This report confirmed what I have believed for some time – there is hidden value in this company. The CEO confirmed that they still haven’t found any water or wax in the oil, something they expected in January. This means the Tortue field is larger than expected, and more oil can be recovered. The listing of BW Energy is also positive, although I was hoping the shareholders would receive the shares as a dividend. There are lot of triggers going forward. More wells to be drilled in Africa, but Maromba is the one I am looking forward to get in production. An increased reserve estimate here will increase shareholder value, and the share price will follow.
I’m keeping this share for the years to come.