March 9, 2018 / 7:58 AM / 9 months ago

BUZZ-Africa Oil Corp: security risk raises doubts

** RBC cuts Toronto and Stockholm dual-listed oil and gas exploration company to “sector perform” and lowers PT to SEK 17.00/sh from SEK 19.50/sh

** Brokerage cites reined in Lokichar Basin development plans and new partner TOTAL’s raised concerns about Kenya security risks as main reasons for downgrade

** RBC says the key question for success is whether any (post-tax) gains can be realized

** “We see value in Africa Oil, but the investment case lacks H1/18 catalysts”, RBC adds

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