(Boursier.com) — Maurel & Prom corrects by 6% to 5.18 euros after taking note of the signing on February 15 of a share purchase contract between the Gabonese national oil company Gabon Oil Company and Assala Energy Investments Ltd. in view of the acquisition by GOC of Assala Energy Holdings Ltd and all its subsidiaries. This signature takes place within the framework of GOC’s sovereign right of pre-emption. The SPA signed by M&P on August 15, 2023 has become irrelevant…
M&P confirms and reiterates its desire to remain a trusted partner of the Republic of Gabon, as evidenced by its presence and all of its projects in the country for almost 20 years now.
The M&P Group displays a very healthy financial situation, with a net cash position expected at the end of March 2024 (around $270 million in cash and available liquidity, compared to $266 million in gross debt), and significant borrowing capacity. M&P is currently in an important development phase, marked in particular by the ongoing restart of its activities in Venezuela…
Portzamparc speaks of “bad news”, insofar as the operation would have gone so far as to create $1.3 of additional value per share. Enough to adjust its target price downward from 7.1 to 6.8 euros while remaining a buyer on the file.
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