RH Petrogas

RH Petrogas: UOB kay Hian maintains Buy with $1.60 TP. Note that RHP announced yesterday that its wire-line logging at its Klagalo-1 exploration well indicated that there were potential hydrocarbon zones from the Kais limestone and final tests are being done now. While it did not mention if the hydrocarbons were recoverable, the house upbeat about the oil discovery. Remain encouraged with potential upcoming newsflow which may boost shareholders’ value.