Topline Flash Note: Pakistan Oilfield Limited: Analyst briefing takeaways
- The company has tried three formations in Jhandial 2, results of which have not been encouraging.
- The company is currently side tracking this well. This well will again be tested in Nov-2020. Total Capex incurred on this well is US$20-22mn.
- Jhandial reserves will also be updated after results of Jhandial 2.
- Tal Block Windfall levy case is still ongoing. In case of an unfavorable result, both parties can opt for Supreme Court option.
- MardanKhel-4 drilling has not started yet due to some security issues in the area.
- Mamikhel South production will start before Mar-2021.
- Drilling of new exploratory wells in DG Khan and Kirthar Blocks will be held between Jan-2021 and Mar-2021.
- Average Capex planned for each well is US$20-25mn.
- The company will be actively looking for opportunities in the market.
For ENI assets sale, the company has not made any definitive decision yet.
Co. and its subsidiaries are principally engaged in the exploration, drilling, production and sale of crude oil and gas and other products.
Topline Securities is one of the fastest-growing brokerage houses in Pakistan. It has strong Equity Brokerage, Economic/ Equity Research, Commodity Trading and Corporate Finance & Advisory functions.
Topline Securities has been endowed with numerous awards by renowned international financial organizations. The highlights of which consists of the award for ‘Best Local Brokerage House of Pakistan’ by Asiamoney Brokers Poll (the largest Asia-focused equity services provider poll) in 2016 and ‘Best Equity Brokerage House’ by CFA Society Pakistan in 2015.
Previously, Topline Securities held the title for ‘Best Brokerage House’ for 4 consecutive years (2011-2014) by Asiamoney Brokers Poll. Other awards include the ‘Best Salesperson’ award by Asiamoney for 6 consecutive years (2011-2016), the ‘Arabia Fast Growth 500’ award and ‘Pakistan Fast Growth 100’ award in 2012 and 2013 by AllWorld Network.
JCR-VIS, a credit rating agency providing independent rating services in Pakistan has assigned initial rating of “A-2” for short term and “A” for long term to Topline Securities. Topline Securities is registered as Underwriter, Book Runner and Research Entity with Securities & Exchange Commission of Pakistan (SECP).
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.