Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on GREENFIELDS PETROLEUM CORP. We currently have 15 research reports from 1 professional analysts.
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GREENFIELDS PETROLEUM CORP
GREENFIELDS PETROLEUM CORP
PRESENTATION TO FIRSTENERGY
13 Sep 16
We had an opportunity to host Mr. John Harkins, CEO of Greenfields, for a corporate presentation. Greenfields completed the acquisition of its defaulted partner, Baghlan, of August 9, 2016 and the corporate restructuring was settled on August 18, 2016. Post corporate restructuring, Greenfields has senior secured debt of US$44 mm that matures on March 31, 2018 that will potentially be refinanced in the upcoming months and a share count of 157 mm shares. We previously anticipated a share count of 166 mm shares; therefore, this is 5% less dilution than expected. Our core NAV estimate is $0.47 per share and our risked NAV estimate is $1.40 per share.
Reports 2Q16 and Positive Operational Results
29 Aug 16
Greenfields’ corporate restructuring process continues, with the expectation of a successful conclusion by the end of September 2016. Operational activity has increased, with six workover rigs in operation at the Bahar Gas Field and Gum Deniz Oil Field. There has been a positive production response and q/q production growth is now expected throughout 2016e and 2017e. Greenfields reported 2Q16 production results that were in line with our expectations. Gross field production was 3,798 boe/d, while the Company’s entitlement volumes were 1,065 boe/d.
1Q16 Results Inconsequential to Acquisition and Restructuring Plan
31 May 16
Greenfields reported 1Q16 field production of 4,033 boe/d (1,053 boe/d net) and cash flow of negative US$2 mm. Results were modestly lower than expected, but inconsequential when compared to the Baghlan acquisition and corporate restructuring that is expected to close imminently.
Greenfields Petroleum Reports 4Q15 Results
02 May 16
Greenfields reported 4Q15 production results that were better than expected. At the field level, production was 4,428 boe/d (FCC 4,125 boe/d). Net to Greenfields,production was 1,178 boe/d (FCC 1,100 boe/d). The Company’s 4Q15 results are secondary to the proposed consolidation of Bahar Energy (33.3% WI to 100% WI) and restructuring plan, which is expected to close in May 2016e. Please refer to our report, Greenfields Petroleum (GNF) Consolidates Its Interest and Announces Restructuring Transaction. Our outlook for 2016e and 2017e remains unchanged.
ANNOUNCES SETTLEMENT OF SUBORDINATED REVOLVING LOAN
12 Apr 16
Impact: Neutral. Greenfields has announced it has entered into an agreement with Heaney Assets Corp. to settle all outstanding debt under its subordinated revolving loan agreement, dated June 27, 2014. Under the agreement, Greenfields will issue 11.5 mm shares to Heaney which fully satisfies all amounts outstanding under the original loan agreement, including principal in the amount of US$20.8 mm and accrued interest. Greenfields will also pay US$1 mm plus 0.5 mm shares to an agent for successfully negotiating the terms of the agreement. The share issuance will come from the 160 mm share target proposed from the share restructuring.
GMP FirstEnergy ― UK Energy morning research package
06 Dec 16
Transglobe Energy (TGL CN); BUY, C$5.25: Homeward bound… back to Canada | Great Eastern Energy Corporation (GEEC LN) (not covered): Reserves update in India | BP (BP LN) (not covered): Acquiring interest in Tangguh in Indonesia | Exillon Energy (EXI LN) (not covered): Production update in Russia | Genel Energy (GENL LN); SPECULATIVE BUY, £2.60: Receipt of payment for Taq Taq export in Kurdistan | ExxonMobil (XOM US) (not covered): Relinquishing blocks in Kurdistan
19 Jan 17
Aggregated Micro Power* (AMPH): Funding for first peaking power plant project (CORP) | The Mission Marketing Group* (TMMG): Positive trading update (CORP) | Cello (CLL): Increasingly backed by, and leveraging, technology (BUY) | 4imprint (FOUR): Growth backed by strong cash flow continues (BUY) | Allergy Therapeutics (AGY): Positive trading update and market share gains drive upgrades (BUY) | Shanta Gold (SHG): Q4 operating results (BUY) | Sound Energy (SOU): Tendrara extended well test result (BUY) | Revolution Bars (RBG): Price target increase (BUY)
16 Jan 17
We take a look at the rankings of the various countries in Africa that have a significant exposure to mining. We take the Transparency International corruption rankings as our starting point and modify these for exceptional geology and for current UK government travel warnings. Ghana, Botswana and Namibia come out as our top three, with Eritrea, Kenya and Zimbabwe at the bottom of our rankings.
Small Cap Breakfast
19 Jan 17
SuperAwesome — The London based specialist in e-compliance is considering an IPO in its home town according to City A.M. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.