Further investment in 'promising' Colombian asset lifts Maurel et Prom shares

Etablissements Maurel et Prom SA

03/07/2025 08:56

** Shares in Maurel et Prom MAUP.PA rise 3.6% after the French oil and gas firm raised its stake in Colombian gas field by another 21% for nearly $79 million

** "M&P is... strengthening its position in a very promising Colombian asset that is quickly ramping up production," BNP Paribas Portzamparc analyst Nicolas Delmas says

** He adds that the block's capacity will be increased to 40 million cubic feet per day from the current 12 million

** The analyst reiterates the "accumulate" rating for the stock, highlighting that the group is expected to show a positive next cash position

** Out of four analysts that cover the firm, three rate the stock "strong buy" or "buy,", while ​one analyst rates it "hold"

(Reporting by Mateusz Rabiega)

((Mateusz.rabiega@thomsonreuters.com;))