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.

Morocco, Gabon and Madagascar

Update | Oil & Gas | 16/12/2015

Pura Vida (PVD) has had no success with the drill bit this year, but the company has protected its cash position by reducing its G&A and pursuing farm-downs. Offshore Madagascar remains a high-risk venture but discoveries around the Gabon licences could assist the farm-out process during 2016. We adjust our RENAV to A$0.21/share, founded on the MZ-2 well, which we assume will go ahead in Q316. However, with the proposed spin-off of Freeport’s E&P business, we believe this timing remains a risk.

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