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AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Adding further exploration prospects in FY24 - ADX has farmed out a 50% interest in an exploration area within the ADX AT I licence to MND in return for a A$0.73 mm back costs payment plus A$7.34 mm funding in exploration drilling. The exploration area farmed-out to MND includes the LICHT and IRR gas prospects. These prospects are close to infrastructure and considered low risk. O
Companies: ALV ADX SYN STO WDS IVZ HHR AOI ALV JSE SQZ PHAR ENOG LBE CHAR KIST ORCA
Auctus Advisors
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C: target price of A$0.08 per share: Funding from the Austrian Science Fund to collaborate on study at Welchau – The Austrian Science Fund will fund a scientific project in the Welchau area to better understand the geology of the area. An Environment Sustainability project will also be conducted by a group of experts funded by ADX. The project budget is A$0.75 mm to which the Austrian Science Fund will contribute A$0
Companies: ADX CE1 STO GKP AXL JSE PNOR I3E SDX LBE DEC CEG PNOR
Oil posted its second straight weekly decline as signals of additional crude supplies and a deteriorating global demand outlook loomed over a string of thinly traded sessions. The narrative of tight supplies that has driven crude's rally since June has faded amid prospects that the US will ease sanctions on Iran and Venezuela. Meanwhile, faltering growth in China and abysmal economic data in Europe have dimmed the outlook for demand. In the physical market, Marathon Petroleum Corp. is shutti
Companies: STO FOG TXP ITH WG/ 0N08 WDS
Cavendish
GeoPark (GPRK US) C: Target of US$27 per share: Doubling quarterly dividend – The highlight of the 2Q21 results is the doubling of the quarterly dividend to US$0.041 per share. Following the refinancing of its debt, GeoPark had indicated previously its ambitions to increase distributions. 5-6 wells will be drilled at CPO-5 in Colombia by the end of 1Q22. This includes 2-3 wells in 4Q21 (including 1-2 exploration wells) and 3 wells in 1Q22 (including 2 exploration wells). The first exploration w
Companies: STO 0MDP ALV ALV PXT BP/ CNE SDX VOG DEC GPRK GENL GTE CNE TGL ENI ENI
Santos (STO AU) to buy ConocoPhillips’ (COP US) northern Australia interests | Energean Oil & Gas (ENOG LN) (not covered): Disposal of Edison E&P North Sea assets
Companies: STO ENOG 0QZA
Stifel FirstEnergy
Santos (STO AU) (not covered): PNG farm-in | Premier Oil (PMO LN); BUY, £1.45: 1Q19 update | Reserves cut at Maria in Norway | Serinus Energy (SENX LN)1; Speculative Buy, £0.20: 1Q19 results | Tethys Oil (TETY SS)1,6; BUY, SEK85: Production update in Oman | Block Energy (BLOE LN) (not covered): Equity raise in Georgia | Genel Energy (GENL LN); HOLD, £3.00: Update in Kurdistan
Companies: STO HBR BLOE GENL 0A1V
Santos (STO AU) (not covered): Acquisition in PNG
Companies: Santos Limited
Madalena Energy (MVN CN) (not covered): Transaction in Argentina | Tag Oil (TAO CN); BUY, C$1.25: successfully tests Cardiff and Supplejack in New Zealand | LEKOIL (LEK LN) (not covered): Otakikpo Production Update in Nigeria | LEKOIL (LEK LN) (not covered): Otakikpo Production Update in Nigeria
Companies: STO MVN TAO REPC FNK
Tag Oil (TAO CN); BUY, C$1.25: no major changes to estimates | Great Eastern Energy (GEEC LN) (not covered): Half Yearly Results ended 30 September 2016 | Santos (STO AU) (not covered): Farms into Papua New Guinea license | Premier Oil (PMO LN); SPEC. BUY; £1.20: 3Q16 Trading Update | DNO (DNO NO) (not covered): MoU in Iran | Orca Exploration (ORC.B CN): 3Q16 Results | Statoil (STL NO) (not covered): FID at Tanzania LNG delayed by five years
Companies: STO TAO HBR NK1A DNQ GEEC ORC/B
Research Tree provides access to ongoing research coverage, media content and regulatory news on Santos Limited. We currently have 9 research reports from 3 professional analysts.
Since November, the JOG share price has moderated from a high of 250p to current levels of 149.5p. This is despite JOG having now made significant progress towards FID on its c.70mmboe Buchan project, with FID upcoming later this year. In our view this share price move is unjustified, with current levels further enhancing the value on offer, and making an attractive opportunity for investors.
Companies: Jersey Oil & Gas PLC
Zeus Capital
i3 Energy has announced that it has refinanced its Trafigura straight-line amortising facility with a traditional RBL facility provided by a Canadian chartered bank. We believe that i3 Energy's shareholders stand to benefit considerably from the restructured balance sheet because it is significantly better adapted to the company's needs, in our opinion. We believe the new RBL facility will free funds for growth and provide better long-term balance sheet stability, while significantly reducing in
Companies: i3 Energy Plc
WHIreland
i3 has announced a refinancing of its C$75m Trafigura debt facility, increasing liquidity for the company to pursue further growth initiatives. i3 has also announced its end 2023 reserves update, showing significant replacement of production during the year.
Diversified Energy, Touchstone Exploration, Savannah Energy, Chariot, Plexus Holdings, Energean, Gulf Keystone Petroleum, PetroTal Corp, Ithaca Energy, Pantheon Resources, Serinus Energy, Angus Energy, Aker BP, Equinor, BlueNord ASA, Invictus Energy Source: FactSet, weekly change 18/03/24-22/03/24 Oil edged lower to settle below $81 a barrel after a stronger dollar curbed investor appetite for commodities, offsetting signs of a tighter global crude market. Refined product supplies are looking m
Companies: TXP POS SAVE DEC CHAR
Companies: Good Energy Group PLC
Canaccord Genuity
Results demonstrate Bretana cash flows that allow growth CAPEX and dividends. PetroTal has produced a solid set of 2023 results. These show the cash flow generating capability of the company’s Bretana field in Peru, which enables PetroTal to both expend growth CAPEX while also making material returns to shareholders.
Companies: PetroTal Corp.
Companies: FOG PEB KBT EMR TIME GETB JNEO
The company's business structure is evolving and diversifying into several compelling and complementary businesses. The opportunistic, potential sale of its producing shallow assets would represent a significant change and the company's openness to realise value from that sale speaks to the company's prioritisation of shareholder interests and shareholder value creation. The current year will be significant for many of the company's growth businesses as they establish their first significant com
Companies: Caspian Sunrise PLC
• YE23 2P reserves were estimated at 11.8 mmboe, including 0.7 mmboe for Canada and 4.6 mmboe non-core, leaving 6.5 mmboe for the company’s core Colombian assets. This compares with 2.1 mmbbl at YE23 plus 3.9 mmbbl for Carrizales Norte reported in September for a total of 6 mmbbl. Adding back 0.6 mmbbl (net) produced at Tapir in 2023 suggests that Arrow has added 1.1 mmbbl at its core Colombian assets since the latest reserve reports (September 2023 for Carrizales Norte and YE23 for the other a
Companies: Arrow Exploration Corp.
Central Asia Metals (CAML LN) reported full year earnings with net revenue of US$197m down 12% YoY (-1% against VSA estimate) owing to lower commodity prices and modestly lower output albeit comfortably within guidance. EBITDA of US$97m was down 27% YoY marginally below our estimate as the lower top line combined with inflationary pressure. However, group COGS ex-D&A increased 8% YoY, far lower than in-country inflation. A flagged increase in taxation in Kazakhstan meant that net income was US$3
Companies: Central Asia Metals Plc
VSA Capital
Companies: Diversified Energy Company PLC
Tennyson Securities
• FY23 production, YE23 net cash and YE23 reserves and resources had been reported previously. • The FY24 production guidance of 21.5-24.5 mbbl/d with US$205-235 mm opex and US$135-155 mm capex has been re-iterated. • Current production continues to be high, with average production for the first half of March of ~23,000 bbl/d, including ~7.9 mbbl/d for Jasmine, 7.2 mbbl/d for Nong Yao, 2.9 bbl/d for Manora and 4.9 mbbl/d for Wassana. Production at Wassana is particularly high. • Valeura will als
Companies: Valeura Energy Inc.
Companies: PMG DUKE CMCL BOOM
Companies: FOG TND BVXP ACC HDD
Companies: Pantheon Resources plc
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