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MAHA TO 2 A - Maha Energy AB News Story

SEK4.16 0.0  0.0%

Last Trade - 26/05/21

Sector
Energy
Size
Small Cap
Market Cap £113.4m
Enterprise Value £133.5m
Revenue £38.2m
Position in Universe th / 1890

BRIEF-Maha Energy Announce Delay In Tie-4 Completion Affecting 2021 Annual Average Production Guidance

Thu 21st October, 2021 8:49pm
Oct 21 (Reuters) - Maha Energy AB  MAHAa.ST :
    * REG-MAHA ENERGY ANNOUNCE DELAY IN TIE-4 COMPLETION
AFFECTING THE
2021 ANNUAL AVERAGE PRODUCTION GUIDANCE - BUT ESTIMATED REVENUE
FOR 2021 REMAIN STRONG DUE TO ROBUST OIL MARKETS
    * MAHA ENERGY AB - RANGE FOR 2021 ANNUAL AVERAGE PRODUCTION
IS NOW
3,500 - 4,000 BOEPD1
    * MAHA ENERGY AB - PRODUCTION FOR YEAR IS DOWN 12.5%
COMPARED TO
PRIOR GUIDANCE
    * MAHA ENERGY AB - AVERAGE PRODUCTION RATE FOR Q3 OF 2021
WAS
3,610 BOEPD 
    * MAHA ENERGY AB - DELAY IN TIE-4 HAS RESULTED IN DEFERRAL
OF
171,000 BOE, OR 469 BOEPD OF PRODUCTION ON AN ANNUALIZED BASIS
    * MAHA ENERGY AB - AIM TO HAVE TIE-4 HORIZONTAL ON
PRODUCTION BY
END OF YEAR
    * MAHA ENERGY AB - IMMEDIATE IMPACT OF DEFERRED PRODUCTION
IS
CUSHIONED BY CURRENT STRONG OIL MARKET
    * MAHA ENERGY AB - STILL CONTINUE TO BUILD OUR CASH BALANCE
DESPITE DELAY OF BRINGING TIE-4 ON PRODUCTION

Source text for Eikon:  ID:nGNEc9Qjkv 
Further company coverage:  MAHAa.ST 

 ((Reuters.Briefs@thomsonreuters.com;))
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