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AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$1.00 per share: Important step to unlock Sicily – The Italian ministry has informed ADX that it will be granted the d 363C.R-.AX gas exploration permit in the Sicily Channel. In addition, the Regional Administrative Court of Rome has annulled the Plan for the Sustainable Energy Transition of Eligible Areas that prevented the oil redevelopment, appraisal and exploration activities on the licence.
Companies: SOU SOU NOG VAR TCFF SQZ OKEA OKEA ITH REP REP EQNR EQNR ENI ENI AKRBP TTE RHC RHC LNGE SEI ADX GPRK PEN PEN ZPHR 3BE
Auctus Advisors
AUCTUS PUBLICATIONS ________________________________________ Tethys Oil (TETY SS)C; target price of SEK100 per share: Increasing further the size of the prize/Considering Algeria – 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, Te
Companies: CRCL UOG SDX VAR UJO CNE CEG EOG IOX OKEA OKEA RHC RHC TETY TETY WDS ENW GALP GALP VLE ZPHR 0EVE 3BE
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: DELT EME GALP GALP GKP JSE NOG ORCA UJO TTE RHC RHC PMG DEC OMV OMV CORO CAD CE1 BNL SEA CHAR ADX 3BE
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: KOS UOG SNM DNO DNO TCFF OMV OMV EQNR EQNR RHC RHC PXT MAHAA ADX ALV ALV CNE FEC PEN PEN TETY TETY EGY
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 SZX1 CNE VLE
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.100 per share: Exploration portfolio update in Austria: larger volume, lower risk – The exploration portfolio in Upper Austria is now estimated to hold 213 mmboe of best technical prospective resources (previously 200 mmboe) in 20 prospects. The importance of the upgrade is as much about risk reduction as it is about resources increase. The expansion of the portfolio also provides new opportuni
Companies: TXP SQZ SOU RHC RHC PNOR PNOR PRD NOG JSE CNE CE1 CASP DEC ENI ENI OYL OYL FEC ZPHR ALV ALV ADX PPCGF 3BE
Royal announced an offtake agreement with an undisclosed private North American corporation for the remaining capacity at Steveville. The term of the contract is three years, commencing on first delivery (no penalties for delayed start-up) and the price has improved by 39% from its previous contract with a space launch company signed in August 2022, demonstrating the strength and tightness in the helium market. The contract is priced at US$625/mcf net of all transportation and liquefaction costs
Companies: ROCKEFELLER HUGHES (RHC:TSE)Royal Helium Ltd. (RHC:TSX)
Hannam & Partners
Royal announced binding commitment letters have been received and signed with the Business Development Bank of Canada and Canadian Western Bank for a C$15mm credit facility previously announced at a rate of 3% above the Prime Lending Rate (currently 6.7%) plus a revolving working capital facility of C$2.5mm at 2% above Prime at time when mezzanine debt would incur a rate of 15-20%. Royal also announced that following the receipt of the above commitment letters, the remaining conditions have been
Royal Helium (“RHC”) announced the signing of termsheets on 21st December for a six year non-revolving credit facility of C$15mm from the Business Development Bank of Canada and a “Schedule 1” bank at a rate of 3% above the Prime Lending Rate (currently 6.5%). Additionally, a revolving working capital facility of C$2.5mm at 2% above Prime at a time when mezzanine debt would incur a rate of 15-20%. The net proceeds will be used to fund capital expenditures related to the Steveville production fac
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AUCTUS PUBLICATIONS ________________________________________ Calima Energy (CE1 AU)C; Target price of A$0.60 per share: Market cap paid back in 2 years, even after incorporating higher differentials - Four wells out of the five well 4Q22 programme have now been drilled with two wells already in production. Gemini#10 is producing in line with the type curve (IP of 120 boe/d gross and 60 boe/d net to Calima 50% WI). Gemini #11 was put into production on 24 November while Gemini#12 will be brought
Companies: PEN TCFF ALV CE1 HHR ALV RHC RHC SOU EOG ENQ ZPHR PMG NOG SDX CHAR PEN
AUCTUS ON FRIDAY: PEN NO, VLE CN, AEC NO/AFE CN, ALV CN, ANGS LN, CNE CN, CVX US, DME CN, ECO LN/EOG CN, ENOG LN, RBD LN, RHC CN, SEI CN, SENX LN, SHEL LN, VOG LN________________________________________ Please click here to access the financial metrics for Auctus' coverage universe AUCTUS PUBLICATIONS ________________________________________ Panoro Energy (PE NO) C; Target price of NOK50 per share: Commencement of drilling operations at high impact well in South Africa – Eco Atlantic has indica
Companies: PEN CVX ALV ALV DME RHC RHC RBD ENOG CNE PEN VLE SENX CVX
Southern Energy (SOUC LN/SOU CN)C; Target price of £2.70 per share: Initiating coverage – Southern Energy Corp. is a ~US$90 mm market cap US onshore gas E&P with ~3.4 mboe/d production and ~20 mmboe 2P reserves in Mississippi. With 2 bn bbl of oil and 10 tcf of natural gas recovered to date, Mississippi was one of the main hydrocarbon basins in the US until the 60’s when the industry moved to less mature areas, leaving several tcfs of gas resources behind. Without a commercial shale play and wit
Companies: RHC RHC JSE AOI TETY TETY ZPHR SOU 3BE
We have updated our Royal Helium model on the back of the recent CPR, new helium sales contract, 3D seismic data on the Climax conventional prospects, the Nazare production modelling simulation and the Val Marie initial drilling results. We have increased our base case helium price by 13% to US$450/mcf from US$400/mcf (in line with the GLJ CPR estimate) as a result of the new contract that has been signed with a Space Launch company in the US. We see this as important as it provides external val
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL CN/LN)C; Target price of £0.45 per share: Reserves increase in Colombia – Arrow has added ~0.25-0.28 mmbbl 2P and 3P reserves on the Tapir licence (to respectively 1.9 mmbbl and 3.9 mmbbl) following recent drilling results. 1P reserves have increased by 0.6 mmbbl. This reflects reserves additions in the C7A, C7B and C7 stringer sands, partially offset by a reduction at the Gacheta B (tested with 95% water cut) an
Companies: R4Y RHC RHC HHR DNO APA APA TTE ENI ALV TAL 88E SOU ZPHR AXL PEN ALV DNO ENI PEN
Research Tree provides access to ongoing research coverage, media content and regulatory news on Royal Helium Ltd.. We currently have 20 research reports from 2 professional analysts.
