Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on VALEURA ENERGY INC. We currently have 22 research reports from 1 professional analysts.
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VALEURA ENERGY INC
VALEURA ENERGY INC
GMP FirstEnergy ― UK Energy morning research package
14 Nov 16
Parex Resources (PXT CN)4; BUY, C$24.00: reports 3Q16 results and bullish 2017 outlook | Ithaca Energy (IAE LN/CN)6 ; BUY, £1.10: 3Q16 Results | Valeura Energy (VLE CN)1, 6; BUY, C$1.75: 3Q16 results overshadowed by the previously announced transactions that are expected to close by year-end 2016e | Condor Petroleum (CPI CN)8 ; BUY, C$3.75: Condor reports 3Q16 results and upcoming drilling catalysts | Jersey Oil & Gas (JOG LN)1 ; UNDER REVIEW: Exploration well in the UK confirmed | SDX Energy (SDX LN/CN) 1 ; Buy, £0.50: Well location identified at South Disouq in Egypt | Sterling Energy (SEY LN)(not covered): IMS
SIGNS DEFINITIVE FARM-OUT AGREEMENT WITH STATOIL
22 Aug 16
Market Impact: Positive. Valeura has signed a definitive farm-out agreement with Statoil for the deeper rights on the Banarli License. The signing of the agreement with significantly reduce the market's perception of deal risk and country risk.
Reports 2Q16 Results and Provides Positive Update Regarding Farm-Out Agreement with Statoil
12 Aug 16
Valeura confidently notes that the farm-out agreement with Statoil will be completed by the end of August 2016e. The two companies are advancing the necessary work to facilitate the spudding of the first deep exploration well on the Banarli License by year-end 2016e. Please refer to our report: Valeura Enters into Farm-Out Agreement with Statoil. We have reduced our near-term production outlook. Valeura will take a brief hiatus from shallow conventional drilling on the Banarli License, which will now resume after the farm-out agreement is signed and completed. At closing of the Banarli farm-out agreement, Statoil will pay Valeura US$6 mm. Valeura is currently evaluating strategic acquisition opportunities, as well as exploring options to restart operations on the JV lands (40% WI). There is also the potential that the deeper formations on the JV lands will be farmed out to an industry partner. It would be logical for Statoil to also farm-in on this adjacent acreage position.
PROVIDES OPERATIONAL UPDATE
18 Jul 16
Market Impact: Negative. While Valeura's operations in Turkey have not been directly impacted by the attempted coup, there will likely be short-term negative sentiment. Operationally, Valeura is currently reperforating the Yayli-1 well and sidetracking the Bati Gurgen-2 well.
20 Feb 17
Hayward Tyler Group* (HAYT): Trading update and financial position (CORP) | Petra Diamonds (PDL): Interim results (BUY) | Gemfields* (GEM): Interim results (CORP) | Premaitha Health* (NIPT): Middle East momentum (CORP) | Sound Energy (SOU): Acquisition update and TE-8 well spud (HOLD) | Proactis* (PHD): Interim trading on track (CORP) | 7digital* (7DIG): Automotive contract win (CORP)
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.
Opuama production restarts
21 Feb 17
Eland has confirmed the successful restart of exports from OML 40 through the new shipping alternative that it has implemented. Sales from the export terminal are expected imminently, re-establishing cash generation for Eland. Cash at YE16 was US$11.1m which has since reduced to US$5.9m, mainly reflecting initial operating expenses for the shipping alternative. While it is early days, Eland has demonstrated its ability to restart exports and production from OML 40 following the shut-down of the Forcados terminal a year ago. Production to date is averaging around 7kbd and we expect that to ramp up as Opuama operational performance improves. At US$55/bbl Brent, we estimate Eland is generating a net cash margin of around US$25/bbl. We reiterate our Buy recommendation and 95p per share Target Price.
Small Cap Breakfast
24 Feb 17
GBGI—Schedule One update from integrated provider of international benefits insurance. Raising £32m at 150p. Admission expected tomorrow. Anglo African Oil & Gas— Admission expected early March. Acquiring stake in producing near offshore field in the Republic of the Congo. Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb.
Operating update and shareholder activism
15 Feb 17
December and January have seen the emergence of shareholder activism at Bowleven (BLVN), bringing its strategy and management into greater focus. Its largest shareholder (Crown Ocean Capital, COC) evolved from being a supportive shareholder to voting against a number of resolutions at the December AGM, to recently calling for the widespread removal of the board and a radically different company structure. Operationally, the company reports that a new development concept is under review by the stakeholders in Etinde, where production would be piped to existing gas processing facilities in Equatorial Guinea. Such a solution would (if approved) require significantly less capex and could be brought online relatively quickly vs other solutions (fertiliser, FLNG, gas to power). We leave our valuation largely unchanged, save for a revision to cash holding to reflect the recent operational update. Our new core NAV is 49p/share.