JPMorgan retained its “overweight" recommendation on Buru Energy and said it expects Buru to report CY13 results on Thursday. “We forecast a net loss of $14 million before significant items and a statutory net loss of $18 million.
“The disappointing result from the Ungani-3 Appraisal Well has prompted us to revise our forecasts of total recoverable oil and downwardly revise our NAV [net asset value] contribution from future potential discoveries in the region.
Loading...
Elise Shaw writes on Markets specialising in Equity Markets, Commodities, Mining. Based in our Sydney newsroom, Elise has over 25 years experience as a finance and markets journalist and editor. Connect with Elise on Twitter.
