Aug. 10 (Bloomberg) — Maple Energy Plc is “still hopeful” it will find oil in the Santa Rosa prospect in the Peruvian jungle, Chief Executive Officer Rex Canon said.
Lima-based Maple will begin a second round of drilling in the prospect in about two weeks, Canon said in a telephone interview today. Maple tumbled 46 percent on Aug. 6 after saying the first round of drilling produced no oil.
“The real news on this particular prospect will not be known until we actually finish drilling,” Canon said. “I think some people maybe didn’t evaluate all the information that is out there” in driving down the stock last week, he said. FULL REPORT HERE
The stock is currently up a tad under 10% in Lima trading at U$2.22, volume 471,000 shares and counting.