Its stock was up by almost one tenth today a following a final investment decision on a Cameroon project.
Fearnley Securities analysts say Wednesday’s development is highly positive given recent energy sector sentiment, while the financial risk for the project has been eliminated.
“Reduced energy prices and further indications of slower economic growth in the Far East have again led to a massive sell-off in energy related growth stocks,” said a report issued by Jan Andreas Naess, Jonathan Staubo and Espen Landmark Fjermestad.
