Ann: RMP: Additional Interim Drilling Results, page-2

UK analysts still confident
In a note to clients, analysts at Cantor Fitzgerald commented: “The company had suffered a rough day’s trading on Friday after announcing that a shallower Nanushuk interval looked to be at the lower end of the range required for commerciality, due to high water saturation.”They added: “It remains too early to call whether the discoveries will prove of commercial size, with further data and analysis required to determine the plan for stimulation and testing. However, signs appear promising and we would expect the shares to recover strongly this morning.”The analysts reiterated its ‘buy’ rating and 4.4p target price on 88 Energy shares which in afternoon trading were changing hands at 0,90p, up 13.9%.