KrisEnergy kept at "outperform" with 80-cent target by Macquarie

Stock Name: KrisEnergy
Company Name: KRISENERGY LTD.

Research House: Macquarie

Price Call: BUY

Target Price: 0.80

SINGAPORE (Jan 7): Macquarie Research has kept its "outperform" call and 80-cent price target on KrisEnergy, saying the Southeast Asia-focused oil and gas explorer offers "fundamental" value even as oil prices continue to fall.

The company said last week the Indonesian government has approved its plan to develop a gas field in East Java, paving the way for KrisEnergy to pursue talks with potential buyers for gas sales agreements.

KrisEnergy's so-called Bulu production sharing contract covers three areas spanning a total of 697sq km in water depths of 50m to 60m.