Panoro Energy ASA has announced a substantial oil discovery offshore Gabon, indicating growth potential. The company will report its earnings for the fiscal year ending December 30, 2024, on February 25, alongside production guidance. Investment analysts are adjusting target prices, reflecting positive market sentiment. Additionally, Panoro is engaged in new exploration drilling and has issued a senior bond to support its projects.
Panoro Energy ASA has recently announced a significant oil discovery offshore Gabon. This development indicates notable prospects for the company in the region. The exploration activities demonstrate Panoro’s commitment to expanding its operations and enhancing its production capabilities.
In addition to the oil discovery, Panoro Energy is set to report its earnings results for the fiscal year ending December 30, 2024, on February 25. This includes a production guidance announcement for both the first quarter and full year of 2025, further indicating the company’s proactive approach in managing its operations.
Investment analysts have been revising their target prices for Panoro Energy amidst these developments. For instance, Danske Bank has lowered its target price to NOK 40 while maintaining a ‘Buy’ rating. Meanwhile, Arctic has raised its target to NOK 42 while reaffirming their recommendation.
Furthermore, Panoro Energy has confirmed the commencement of drilling for the S-6 exploration well at Block S offshore Equatorial Guinea. The firm has also initiated a senior bond issuance amounting to $150 million to support its ongoing projects and enhance financial stability.
Panoro continues to explore potential developments, including signing production sharing contracts for various blocks in Equatorial Guinea and Gabon, demonstrating a strategic expansion in the offshore oil sector.
In conclusion, Panoro Energy ASA’s recent oil discovery offshore Gabon marks a significant milestone for the company, expanding its operational footprint. The forthcoming earnings report and production guidance underline its strategic planning efforts. Additionally, revised target prices from analysts reflect the market’s optimistic outlook, while recent bond issues and contracts reveal a commitment to further growth in the offshore oil market.
Original Source: www.marketscreener.com
