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.

Oil - no show

Update | Oil & Gas | 24/08/2015

Results from the MZ-1 well, Pura Vida’s first offshore Morocco, have shown no oil detected. The company was fully carried for two wells and attention now turns to the second well which must commence by Sept 2016. Within its wider portfolio, Pura Vida’s attention turns to Gabon and Madagascar where farm-outs and seismic interpretation are the focus. Our RENAV based on committed drilling activity has been adjusted following the MZ-1 outcome to A$0.31/share. This represents substantial upside to the current share price.

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