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SPT Energy Group ( (HK:1251) ) has provided an announcement.
SPT Energy Group Inc.’s subsidiary, CNG, has entered into an Operation Cooperation Agreement with Pioneer Oil Indonesia to explore and develop oil and gas fields in the Jabung Tengah Block, Indonesia. This agreement, which involves a $200 million investment from POI, aims to leverage both companies’ resources and expertise to expedite exploration and exploitation activities, with a profit-sharing arrangement set at 50:50 if successful.
The most recent analyst rating on (HK:1251) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on SPT Energy Group stock, see the HK:1251 Stock Forecast page.
More about SPT Energy Group
SPT Energy Group Inc. is principally engaged in providing integrated oilfield services and manufacturing and selling oilfield services-related products.
YTD Price Performance: 140.0%
Average Trading Volume: 5,190,997
Technical Sentiment Signal: Buy
Current Market Cap: HK$556.9M
For a thorough assessment of 1251 stock, go to TipRanks’ Stock Analysis page.