Stock Name: KS Energy
Company Name: KS ENERGY LIMITED
DnBNOR Markets in a July 13 research report says: "The partnership with NOC-backed PT Pertamina Drilling Services is positive, in our view, as this may present further working opportunities with them in Indonesia. However, there is limited information on the contract details to assess its economics.
"We have yet to determine: (1) which drilling assets (if any) KS Energy would deploy; (2) whether this contract is an onshore or offshore work; and (3) The contract nature, if it is bareboat, time charter, or pure management services contract. Based on the fleet of KS Energy, we are not able to clearly identify a drilling asset that can fit the contract schedule.
"We expect limited impact on estimates and will revert with more details later. Net asset value of $1.32 per share. Target price of $1.30. BUY"
Company Name: KS ENERGY LIMITED
| Research House: DnBNOR Markets | Price Call: BUY | Target Price: 1.30 |
DnBNOR Markets in a July 13 research report says: "The partnership with NOC-backed PT Pertamina Drilling Services is positive, in our view, as this may present further working opportunities with them in Indonesia. However, there is limited information on the contract details to assess its economics.
"We have yet to determine: (1) which drilling assets (if any) KS Energy would deploy; (2) whether this contract is an onshore or offshore work; and (3) The contract nature, if it is bareboat, time charter, or pure management services contract. Based on the fleet of KS Energy, we are not able to clearly identify a drilling asset that can fit the contract schedule.
"We expect limited impact on estimates and will revert with more details later. Net asset value of $1.32 per share. Target price of $1.30. BUY"
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