Flying off to the Oil Council World Assembly day two, day one a storming success, much more later.
Company has announced a very good contract worth $190m from Qatar Petroleum who are a long-term highly supportive client. This is yet another good contract both in the Middle East and for the EPC unit which has had a good run of orders.
We remain very positive on Kentz, the stock is now looking phenomenally cheap.
Caza Oil & Gas
Company yesterday announced an update on Copperline where the latest well has flowed at a combined rate of oil and gas of 1,002 b/d. Good news is that the oil is already being sold and the gas will go to market soon.
Caza is also incredibly cheap and the only thing holding it back is the persistent selling which appears not to be SEDA related but down to an early day founder clearing out his portfolio. This is in a way good news, firstly as I was wrong about the SEDA sales but because once the shareholding is cleared out the overhang should create more free float and new investors can come in. Just need to know when the selling stops!
Either way this is another top quality well result and if you can be patient Caza will undoubtedly repay that faith, next stop 20p………………….