"Открытие Капитал": Max Petroleum: Beware of dilution and refinancing risks // ДЕРЖАТЬ
10 июля 2012 года
Max Petroleum (MXP) has been in the limelight after a 60% fall in its share price over the last two weeks on news of technical and funding problems with the first deep well. Though shallow assets could generate a lot of value and provide more than 100% upside (prior to potential dilution for refunding), we keep our HOLD rating due to MXP’s large funding risks compared to peers trading with comparable upside (VGAS, EXI, TPL).
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