Det norske oljeselskap ASA (OTCPK:DETNF) is an exploration, development, and production company operating in the Norwegian continental shelf. The company has witnessed a relatively steep correction of 14% over the last two months. This investment research discusses the reason for the correction, the reasons to believe that the correction is a good opportunity to go long on the company and the valuation of the key asset of the company. Before proceeding, I would mention here that the stock is relatively illiquid in the US stock exchange and investors can consider exposure to the stock from the Norwegian stock exchange (DETNOR), where the trading volumes are good.
The Company And Assets
Det norske is an independent oil...
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