Pura Vida Energy (PVD)

Business description

Pura Vida Energy is an ASX-listed E&P with interests in blocks offshore Morocco and Gabon. The main focus is on high-impact exploration drilling in Morocco, with Gabon offering appraisal/development options in addition to exploration.

Pura opportunity

Initiation | Oil & Gas | 26/05/2015

Pura Vida offers investors near-term material exploration exposure, with a fully funded well drilling offshore Morocco within days (and a funded well to follow). Success at MZ-1 would be game-changing, with best estimate gross prospective resources in five stacked targets (internally assessed) of more than 1.1bnbbl. Moroccan fiscal terms are attractive and result in a RENAV for MZ-1 of A$1.42/share, while the as yet unspecified but contracted and funded second well offers further potential upside. With Madagascan seismic underway and prospectivity in Gabon, 2015 will be a major year for Pura Vida.

Tagged: Oil & gas

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