Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on MITRA ENERGY INC. We currently have 16 research reports from 1 professional analysts.
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MITRA ENERGY INC
MITRA ENERGY INC
GMP FirstEnergy ― UK Energy morning research package
15 Nov 16
President Energy (PPC LN) (not covered): fund raising and loan restructuring | Canacol Energy (CNE CN) (not covered): Nelson 6 gas discovery tested at 23 mmcf/d | Reliance Industries (not covered) serves arbitration notice to Delhi | Mitra Energy (MTE CN)1; Speculative Buy, C$1.60: Stag Oilfield acquisition closed | Ithaca Energy (IAE LN/CN)6; BUY, £1.30: 150% production growth in 2017 | Royal Dutch Shell (RDSA/B LN) (not covered): looking to sell Norwegian asset | Petsec Energy (not covered) acquiring 25% interest in Block 7 in Yemen | Africa Oil (AOI CN/SS); BUY, C$3.00: 3Q16 results | Wentworth Resources (WRL LN/NO)1,6: Buy; £0.50, 3Q16 results
US$68 mm new funding through private placement and convertible debt facility
04 Nov 16
Mitra will proceed with a private placement of 132.5 mm shares at C$0.40/sh for gross proceeds of C$53 mm (c. US$40 mm). This will be used to fund the previously announced purchase of the Stag Oilfield in Australia (US$10 mm), a letter of credit (US$10 mm) for a key contractor to Stag for obligations under a long term contract, further appraisal and infill drilling and working capital. C$0.40/sh represents a c. 22% discount to Wednesday’s closing price of C$0.51/sh. Mitra has also entered into a US$28 mm convertible debt facility (C$0.50/sh conversion price) with a 7.5% pa interest and three year maturity. The company intends to use the funds drawn down for M&A (other than Stag) and capex for producing assets.
30 Aug 16
Market Reaction: Neutral. Cash is lower than we carried mainly on movements in working capital. The biggest imminent piece of newsflow for the Company remains the closing of the producing Stag Oil Field acquisition in Australia which we expect in the coming weeks. We expect the closing of the Block 5 acquisition in Vietnam could take slightly longer given the necessary government approvals in Vietnam.
30 Nov 16
Abzena (ABZA): Interim results indicate happy customers (BUY) | Horizonte Minerals* (HZM): Fund raise completed (CORP) | SacOil* (SAC): Half-year trading statement (CORP) | Revolution Bars (RBG): New openings (BUY) | Amino Technologies* (AMO): Multi operator FUSION roll out (CORP)
Small Cap Breakfast
29 Nov 16
Asia Pacific Investment Partner - the research-driven emerging and frontier markets real estate development business intends to float on AIM and conduct a placing in December RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m Diversified Oil & Gas— Schedule One now out. $60m to be raised. Expected admission 6 December. Creo Medical Group —UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA.
24 Nov 16
Quixant* (QXT): Gaming gains (CORP) | SCISYS* (SSY): Bringing good news from Germany (CORP) | Hayward Tyler Group*: Contract wins (CORP) | Sound Energy (SOU): TE-7 flow rate and fund raise (BUY) | Water Intelligence* (WATR): Growth and improving returns in a defensive market (CORP) | Imaginatik* (IMTK): Interim trading update (CORP)
Small Cap Breakfast
28 Nov 16
Warpaint London—Schedule one update. Raising £2.5m at 97p. Expected mkt cap £62.6m vs revenues of £22.3m Walls & Futures REIT — Has raised £1m at £1 to acquire, refurbish or develop residential properties in the UK . Due to arrive on ISDX on 29 November Diversified Oil & Gas— Schedule One now out. $60m to be raised. Expected admission 6 December. Creo Medical Group —UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA.