SUGI: 390-550. Ortus Holdings, an Australian company, may increase its offer to buy a 16% stake in Sugih Energy to around IDR450/share from IDR350/share it signed a year ago for around IDR2 trillion worth of fund. I expect SUGI will soon announce the results of its drilling projects on its rich-oil reserves blocks very soon. Best buy is at any levels below IDR400. Should the gas and oil findings are proven well, SUGI target price may be upgraded to IDR900.
BEST BUY IS AT ANY LEVEL BELOW IDR400 OR ABOVE ITS PIVOTAL LEVEL OF IDR435.
Source : Listri Adistri
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