New World Oil - Re: NEW Stream Log - Shore Capital remained upbeat on...

Shore Capital remained upbeat on New World Oil & Gas’ (LON:NEW) prospects as it repeated its “risked” net asset valuation of 40 pence a share. Today, 9:57 AM “We believe that drilling could inject further momentum into the share price, with news in Denmark providing us with additional confidence in our risked NAV estimate.” Market Talk's insight: “Although there have been some adjustments to the prospective resource figures (compared to previous estimates), better delineation of the prospects has resulted in an improved probability of success, while success case net present values continue to indicate plenty of upside potential,” said analyst Craig Howie. “Although New World remains in the exploration phase, it has progressively de-risked its projects and delivered key milestones in line with the planned timetable. “We believe that drilling could inject further momentum into the share price, with news in Denmark providing us with additional confidence in our risked NAV estimate.”