Event in Progress:
Discover the latest content that has just been published on Research Tree
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$1.00 per share: Restarting production at Anshof – The Permanent Production Facility (PPF), with a capacity of 3,000 bbl/d of liquids, has been commissioned and the Anshof-3 well has recommenced production at a rate of 134 bbl/d with no water. The operation has been undertaken in line with expectations and within budget. The oil production rate at Anshof-3 is 16% above the rate prior to shut-in. A
Companies: ENI CVX GPRK OMV ADX REP AKRBP MAHAA OMV JSE PXT TXP TAL PNOR REP CASP CHAR PNOR ENI VAR VLE MAHAA CVX
Auctus Advisors
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.65 per share: Operations on track – 4Q23 production was 218 boe/d as Anshof did not contribute to production during the quarter (in line with previous indications). Commercial production at Anshof is expected to restart in March after the commissioning of a permanent production facility. ADX held ~A$8 mm in cash as at YE23. Drilling at the high impact Welchau-1 well targeting between 365 bcf an
Companies: OMV ADX CE1 BNL GALP GKP OMV JSE RHC RHC EME CAD DELT UJO TRIN CORO PMG NOG LBE DEC CHAR TTE GALP ORCA
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.65 per share: Closing new farm-out transaction with MND/Amendment of agreement for Welchau farmout – The farm-out of 50% economic interest in a part of the ADX-AT-I licence has been completed and ADX has received EUR0.45 mm from MND for back costs payments. MND will fund EUR4.5 mm for exploration drilling. ADX and MND currently intend to drill either the LICHT or the IRR gas exploration prospec
Companies: PEN SEI OMV ADX CE1 MAHAA EQNR OMV AOI AXL TAL TRIN UKOG SDX TETY SLE BWE TTE CNE PEN TETY
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.65 per share: Oversuscribed share purchase plan – ADX has raised a further ~A$1.6 mm as part of a share purchase plan. The terms are in line with the recently announced A$4.8 mm equity raise priced at A$0.10 per share. Chariot (CHAR LN)C; target price of £0.50 per share: Extending position in electricity trading company – Chariot is acquiring 49% of Etana Energy from the Neura Group, with H1 a
Companies: GPRK OMV ADX SYN IVZ OMV CEQ TXP ZEN DNO BOIL EOG CASP HBR ENQ CNE TRIN ZPHR UOG CHAR GPRK R4Y GENL CNE HE1 XOP VLE DNO KIST
Another challenging quarter for OMV due to softening chemicals margins and the natural decline in oil and gas fields. Adjusted operating profit missed the consensus estimates by 10% while net profit came in 34% short. Despite slightly better contributions from the Borealis JVs, chemicals still posted losses. The outlook for the remainder of the year does not look that promising due to declining oil prices on the back of the higher supply, decreasing refining margins and the struggling chemicals
Companies: OMV AG (OMV:WBO)OMV (OMV:VIE)
AlphaValue
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Rig-up at Anshof-2 – The rig-up at Anshof-2 has commenced with an expected spud date of 11 November. XST (20% WI in Anshof) will not participate in the well. ADX and MND will fund XST’s share of well costs on 50:50 basis and will in turn retain the right to 60% and 40% respectively of production from the well unless XST opts to buy back into the well at a premium of 400% to the we
Companies: PEN EQNR TCFF ALV OMV ADX MAHAA OMV ALV FEC PXT RHC RHC DNO I3E UOG TETY KOS CNE PEN SNM EQNR TETY DNO EGY
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: On Track to start drilling in early November - 3Q23 production of 324 boe/d and cash of A$5.7 mm at the end of September were near our expectations. This includes 101 bbl/d gross production for Anshof that was shut-in on 19 September after reaching the regulatory limit for test production. Until that date the Anshof-3 well produced at a stable rate of 114 bbl/d, which is above the
Companies: TCFF XOM CVX OMV ADX CE1 IVZ OMV SOU BP/ CASP ZPHR SDX CHAR SEPL XOM GTE CVX
AUCTUS PUBLICATIONS ________________________________________ Pulsar Helium (PLSR CN)C; target price of C$0.90 per share: Additional acreage should increase the size of the prize – Pulsar has signed a lease with a private mineral rights holder to expand the area of the company’s Topaz helium project. The additional mineral rights are within a 6.2 mile radius of the Topaz discovery and cover a total of 2,840 gross acres (1,049 net acres). This represents ~100% increase to the existing 1,040 net
Companies: OMV BLOK OMV JSE RHC RHC KOS SLE CNE VLE
Adjusted operating income missed the consensus by 7% and was down by 60% yoy, driven by lower-than-expected results in the Chemicals business. Cash flow from operations was weak but positive after a €600m working capital release but was still down 50% yoy and 92% qoq. No details were forthcoming concerning the Borouge/Boreais merger with ADNOC. Oil prices above $80/bbl will be supportive, Q3 product spreads could result in higher refining but the chemicals outlook does not look that supportive.
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; target price of £0.50 per share: CN-2 flows at up to 1 mbbl/d. Focusing on developping the Ubaque at Carrizales Norte - The Carrizales Norte-2 well (CN-2) encountered 60’ of net pay in the Ubaque formation. The well has been put on production in the Ubaque with initial flow rates of 1,012 barrels of fluid per day. The water cut stabilized at 3% and the oil gravity is 13.6 API. The CN-2 well is currently
Companies: EQNR ENI OMV REP OMV AXL REP DELT NOG SDX BWE TTE ENI SEPLAT EQNR
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.10 per share: Securing additional loan to prepare for drilling – ADX is issuing A$1.5 mm of loan notes with a term of 18 months. A$1.0 mm of the loan notes carry an interest rate of 8% per annum with 30 mm options with an exercise price of A$0.01 per share and 30 mm options with an exercise price of A$0.014 per share. The balance of the loan notes carry an interest rate of 12% per annum with 2
Companies: OKEA OMV ADX AKRBP MAHAA OMV AOI DNO PNOR TLW DELT TRIN ZPHR CHAR MATD PRD PNOR GTE VLE DNO OKEA
If they materialise, the talks between OMV and ADNOC concerning the merger of Borealis and Borouge could create a $30bn chemicals giant and pave the way for further growth based on both market expansion and product diversification. OMV could own around c.38% of the new entity with a value of around €12.7bn. Furthermore, the merged entity will reinforce the integration and simplification of operations and could also allow for further growth in the petrochemicals sector with acquisitions and asset
AUCTUS PUBLICATIONS ________________________________________ Criterium Energy (CEQ CN)C; target price of C$0.95 per share: Transformational acquisition in Indonesia – Criterium is delivering on its plans by acquiring Mont D’Or Petroleum with long life and high netback production of 1,050 bbl/d and 4.7 mmbbl 2P reserves across 2 PSCs in Indonesia (Tungkal in South Sumatra and West Salawati in Southwest Papua). With important spare capacity in existing infrastructure and very low drilling costs (U
Companies: CASP OMV OMV STAR EQNR EQNR CEQ PHAR TETY TETY SDX PEN PEN VLE MAU MAU FEC GKP MAHAA SLE SOU TTE TRIN
OMV posted above-consensus results with an adjusted EBIT of €2.1bn (-10% qoq), supported by the refining and core energy business while chemicals continued its lower performance due to weak margins and declining demand. The operating cash flow excl. working capital was strong at €2bn, facilitating further deleveraging. With gearing at 2%, OMV enjoys a healthy balance sheet that will enable a maintained competitive dividend and the company to capitalize on a potential acquisition.
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C: Target price of A$0.100 per share: 1Q23 update – 1Q23 production in Austria was 299 boe/d. The company held A$3.41 mm in cash at the end of March. Criterium Energy (CEQ CN)C: On track for near term acquisition – The FY22 financials were in line with our expectations. The company held C$3.7 mm in cash at YE22. Criterium has also filed the notice of intention to file a short form prospectus. This could be an indica
Companies: PEN ENI OKEA HES OMV ADX HHR REP AKRBP GKP OMV JSE CEQ TAL TXP REP TLW EOG HBR CNE TRIN RBD UKOG NOG SDX UOG CEG SEPL TTE PEN HES ENI OKEA
Research Tree provides access to ongoing research coverage, media content and regulatory news on OMV AG. We currently have 268 research reports from 4 professional analysts.
Alien today reports intraday that the Western Australian Government has granted a mining licence for the Hancock iron ore project for a 21-year term. The granting of the mining licence is the latest milestone delivered by Alien as it advances the project towards development and production.
Companies: Alien Metals Ltd
WHIreland
Companies: CLA STM GLN FXPO KAV GWMO CEY BHP THX EEE
SP Angel
Companies: A4N ARS ANTO RIO TYM AAZ AAL SRB EEE
NextSource is uniquely positioned to build a leading vertically integrated position, ex China, in the supply of Lithium-ion battery anode material which is essential for the Energy Transition. The company is commissioning phase 1 of its world-class Molo graphite mine in Madagascar and is in the final permitting process for its first Battery Anode Facility (BAF) to be located in Mauritius. The company is backed by Vision Blue, established by Sir Mick Davis, former CEO of Xstrata. On our calculat
Companies: NextSource Materials Inc
Capital Access Group
I3 has announced the sale of the majority of its royalty interests in Canada, for US$24.8m cash. This allows the company to fully repay amounts drawn on its debt facility and create a working capital surplus, giving I3 significant additional funding flexibility going forward
Companies: i3 Energy Plc
Zeus Capital
Jubilee today reports its Q3 and third quarter operational results from its expanding operations in Zambia (copper) and South Africa (chrome and PGM). South Africa is on a growth trajectory with record chrome production of 409kt in the quarter (Q2 FY2024 381kt) and a monthly record in March of 145kt and production YTD of 1.13Mt (0.94Mt). Jubilee is well underway to its annual target capacity of 2,1Mt/yr especially with the new 300kt/yr chrome plant at Thutse expected to be operational in August
Companies: Jubilee Metals Group PLC
DEC reported FY23 results which were in line with expectations and announced the acquisition of joint venture assets from Oaktree along with an updated capital allocation framework.
Companies: Diversified Energy Company PLC
Dowgate Capital
Companies: AURA G6M PDL HUM KAV JAY RBW CUSN AFP GMET
On 9 January last year, we set out our ten top stock picks for 2023, for what turned out to be another relatively poor twelve months for UK equities due to two wars, stubbornly high inflation and further tightening of monetary policy. This was even as other major markets, such as the US, largely recovered in the year. In the 2023 calendar year, the AIM All-Share index fell 8.2% and is still 42% off its 2021 high. From the release of our 2023 top picks note, the average total return (assuming div
Companies: PTAL GHH IGP MSLH PINE NXQ EQLS NXR AXL
GMS has announced a new contract award, at improved day rates, adding to order book and overall revenue momentum.
Companies: Gulf Marine Services PLC
Challenger has announced a £1.5m investment in the company from investor Charlestown Energy. This now allows Challenger to be fully funded for the foreseeable future as it works towards closure of its significant Uruguay farm out to Chevron, and the US$12.5m cash payment to be received once this is achieved.
Companies: Challenger Energy Group PLC
• The South Lahan area on Block 58 is estimated to hold 55-523 mmbl prospective resources (P90-P10 case) with a mean case of 251.8 mmbbl prospective resources across six prospects in the Ara Carbonate. • Combined with the previously disclosed prospective resources of the Fahd area in the north-eastern part of Block 58, Tethys Oil’s unrisked recoverable prospective resources on the block are estimated to be 435.9 mmbbl (Pmean). • The geological chance of success ranges from 6% to 11% for the six
Companies: Tethys Oil AB (TETY:OME)Tethys Oil Ab (TETY:STO)
We note that this morning’s announcement by Aminex for a significant potential resource increase in the Ruvuma basin. We believe that the recent pullback in the share price (likely due to delays in the first gas production schedule) provide a good risk/reward opportunity, especially given the future potential in next 12-24 months, highlighted by today’s announcement.
Companies: Aminex Plc
Shard Capital
What you need to know: • JEV announced that it has commenced a strategic process to explore the spin-off of its hydrogen portfolio. We view this as a strong positive for shareholders. • Over the past month, JEV also closed a $2.2M private placement and amended the terms on its debentures, setting up the Company for this transaction. Yesterday after market close, Jericho Energy Ventures Inc. (JEV:TSXV, JROOF:OTC) announced that it has commenced a strategic process to explore the spin-off and s
Companies: Jericho Energy Ventures Inc
Atrium Research
Companies: GHH PHC GETB DEC LORD GELN
Cavendish
Share: