RH Petrogas - UOB Kay Hian 2023-04-06: Well-Managed Upstream Oil Company With Drilling Catalysts In 2023

RH Petrogas - Well-Managed Upstream Oil Company With Drilling Catalysts In 2023

  • RH PetroGas (RHP, SGX:T13) has a solid track record of operating its two mature oil fields onshore Indonesia, and with three potentially high-impact wells to be drilled in 3Q23, we initiate coverage with a BUY rating and a target price of S$0.255.
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RH Petrogas – An oil & gas company focused on Indonesia.

  • Over the past five years, RH PetroGas has rationalised its business by selling off two assets – a high-cost oil production asset in China and an exploration asset in Malaysia. As a result, it currently has only two producing assets in Indonesia: the Kepala Burung Production Sharing Contract (PSC) and the Salawati PSC, both of which are located onshore West Papua.
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Strong execution ability.

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Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.

Adrian LOH UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-04-06

Read also UOB's most recent report:
2023-08-24 RH Petrogas - Poor 1H23 Results; But Exploration Upside Is Key.

Price targets by other brokers at RH PetroGas Target Prices.

Listing of research reports at RH PetroGas Analyst Reports.

Relevant links:
RH PetroGas Share Price History,
RH PetroGas Announcements,
RH PetroGas Dividends & Corporate Actions,
RH PetroGas News Articles


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