LUPEY - Lundin Petroleum: Dry Silfari Well Doubled Revenue By 2021
Recent fruitless drilling
I covered Lundin Petroleum (LUPEY, LNDNF, LNDNY) a month ago. In the previous article, I pointed out that the firm has an outstanding cash generation capacity, but also relatively high balance sheet risk and negative net worth. Today, amid a thunderous U.S. market sell-off with quick recovery combined with tumultuous time on the oil market, shares plunged. Nevertheless, on December 28, on NASDAQ Stockholm shares bounced and reached SEK 221.4 gaining 2.93%.
On December 20, the firm announced discouraging news. The Silfari exploration well 6307/1-1S located in