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Trident have released their Q1 results this morning. It is a typical roller coaster result with overall operational results coming in 17% below our forecasts but the total revenue/income number 13% ahead when including a partial sale of the Lincoln gold royalty – see table below. On the plus side the iron ore royalty at Koolyanobbing came in 15% ahead but gold offtakes income 22% below. The latter was disappointing given the gold price but the company notes this is down to seasonal production we
Companies: Trident Royalties Plc
Tamesis Partners
Union Jack has announced its Andrew's 1-17 well in Oklahoma as a discovery. The well is now onstream, with stabilised flow rates expected to be reported in due course.
Companies: Union Jack Oil Plc
Zeus Capital
PetroTal has announced the acquisition of Block 131 in Peru for US$5.0m cash, bringing immediate additional production alongside various other benefits.
Companies: PetroTal Corp.
Trinity Exploration & Production, Touchstone Exploration, Chariot, Longboat Energy, Reabold Resources, Hartshead Resources, Deltic Energy, I3 Energy, Jadestone Energy, Gran Tierra Energy, Arrow Exploration, Seplat Energy, Nostrum Oil & Gas, Pantheon Resources, Shell, Petrobras, ExxonMobil. Source: FactSet, weekly change 29/04/24-03/05/24 Oil posted its biggest weekly decline since February on signs of easing geopolitical risks in the Middle East, while traders continued to weigh the outlook for
Companies: HHR TXP TRIN RBD LBE CHAR
Cavendish
Companies: Macfarlane Group PLC (MACF:LON)SDX Energy PLC (SDX:LON)
Shore Capital
Sylvania has maintained annual production guidance despite Q324 results being affected by a 22-day strike, resulting in 10% lower production. The PGM basket price was stable during the quarter, with positive platinum momentum offset by palladium weakness and rhodium prices stable. Operating costs increased by 5.6%, in line with expectations. FY24 production guidance is for 75,000–76,000oz, despite the challenges in Q324. Our PGM outlook is unchanged from our moderated forecasts earlier in the ye
Companies: Sylvania Platinum Ltd.
Edison
Phoenix today reports an updated mineral resource estimate for its Empire Mine copper project (plus gold and silver) in Idaho, including, for the first time, a mineral reserve statement. Mineral reserves are the portion of a mineral resource that are economically recoverable according to the assumptions applied in the estimation.
Companies: Phoenix Copper Ltd. (United Kingdom)
WHIreland
Liberum
Drilling operations have commenced on the first of two wells at Chariot’s Loukos Onshore licence in Morocco. The initial well is targeting the Gaufrette prospect, situated updip of an existing gas discovery (LNB-1) and is supported by seismic amplitude anomalies. Success at Gaufrette could unlock a P50 resource of 26Bcf and further upside volumes could come from a series of deeper targets that have been identified on newly reprocessed 3D seismic data. Following Gaufrette, Chariot will drill the
Companies: Chariot Limited
Orcadian has announced its third license award in the UK's 33rd round: 100% of a license in the UK Southern North Sea containing the Earlham gas discovery and the Clover gas prospect.
Companies: Orcadian Energy Plc
Trident released their annual yesterday this morning, as well as an update regarding their Paradox royalty. Firstly, looking at their l results, we already knew the total royalty receipts this year, and therefore the focus is on EBITDA and Net Income. Both came in slightly lower than estimated but both largely driven by our lower SG&A cost estimate. We believe the reason for this is somewhat temporary – see comment below. On Paradox, Anson Resource has received a binding offtake for their proje
Southern Energy is maintaining capital discipline in anticipation of rising natural gas prices with the intention of growing firstly by completing three drilled uncompleted wells and secondly by drilling/completing more wells. For context, the company holds a 100% interest in the prolific Gwinville gas field in Mississippi, USA, which is, we believe, one of the most economically compelling natural gas assets in North America. The company's Q4 results (announced 26 April 2024) broadly came i
Companies: Southern Energy Corp.
Companies: ALL GOLD KEFI ATN ECR BMN GRL PXC
SP Angel
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.75 per share: Raising new equity to fund a high impact activity programme – ADX has raised A$13.5 mm of new equity priced at A$0.105 per share. One free-attaching option will be issued for evert two placement shares with an exercise price of A$0.15 per share and an expiry date of 08/05/2026. The proceeds from the raise will fund (1) the production testing of the 450 m gas column encountered at
Companies: PEN SEI OMV ADX GALP OMV AXL JSE CEQ TXP SHELL DELT TRIN I3E ZPHR CHAR LNGE SEPL CNE BWEFF PEN GTE GALP EGY
Auctus Advisors
Companies: DEG CTL AAZ KOD CGNR LLL SVML ARCM PREM
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