Petrom stock rose 9.22 percent prior to posting of financial result

The company’s shares rose to RON 0.4 (€0.1), following a recommendation by analysts of brokerage companies Raiffeisen and KBC Securities to investors to buy Petrom stocks. “Petrom is under valuated and has now become interesting for investors, especially since positive results are expected for 2007,” said brokerage company Eldainvest Manager, Adrian Manaila.

During Friday’s trading session, two million Petrom shares were involved in a transaction deal worth some €0.25 million. The stock was purchased at RON 0.45 (€0.11) per share, 12.2 percent higher than Thursday’s quotation.

The rapid growth of Petrom shares has brought back the company’s capitalization to above €6 bln, namely €6.18 bln by the end of Friday’s session, some €570 million more than last Friday’s capitalization. Analysts are estimating net profits for Petrom, controlled by Austrian group OMV, at €540.5-676.8 mln, while turnover is expected to amount to some €3.69-3.75 bln.