April 15, 2019 / 12:29 PM / 11 days ago

BUZZ-Energean Oil & Gas: Record high on gas discovery at Karish North

(Adds brokerage comment, updates shares)

** Mediterranean-focussed Energean Oil & Gas shares up 8.2 pct at 844 pence after touching a record high

** Stock 3rd-biggest gainer on FTSE midcap

** Energean has made a vast discovery of 28-42 billion cubic metres (bcm) of natural gas at the North Karish field off Israel’s northwest coast

** Peel Hunt says the major gas discovery can be “rapidly monetised”

** Success at Karish North is an important driver of value at Energean’s key Karish development as it can defer ~$600 mln of capex and increase production by 0.4 bcm per annum - Peel Hunt (RM:justin.varghese.thomsonreuters.com@reuters.net)

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