Oil & Gas - Cavendish sector note

Falcon Oil & Gas, Touchstone Exploration, Jersey Oil & Gas, Serica Energy, Reabold Resources, Molecular Energies, 88 Energy, Seplat Energy, Beacon Energy, Hunting, i3 Energy, Gulf Keystone Petroleum, Orcadian Energy, Kosmos Energy, Vaalco Energy, Zephyr Energy, Woodside Energy, Africa Oil, Maurel et Prom, Parex Resources Source: FactSet, weekly change 26/02/24-01/03/24 Oil extended this year’s rally to almost $80 a barrel amid signs of a tightening physical market. West Texas Intermediate earlie

AUCTUS ON FRIDAY - 01/03/2024

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of £A$0.65 per share: High impact well spud in Austria - The Welchau-1 gas exploration well was spudded on 24 February. Calima Energy (CE1 AU)C; target price of A$0.13 per share: Completing divestment of Blackspur – Blackspur has been sold for A$81.6 mm, after tax provisions and net debt adjustments. Calima will distribute A$80 mm (~A$12.6 per share) as dividends. The distribution is well above the m

Morning Note – 28 February 2024

Reabold Resources - Operational and Corporate Update

Following the final payment from Shell for the Victory asset in January, Reabold holds £9.1m of net cash to progress its two key onshore gas assets – West Newton in the UK and Colle Santo in Italy – looking to replicate the success of the Victory asset investment strategy. The West Newton partners are now planning a simpler, lower-cost development well this year to generate early production and cash flow, which can then be used to further develop the field in a phased manner. The West Newton ope

SP Angel Morning Energiser: 27/02/24

Chevron disputes Exxon pre-emption right in Guyana

Oil & Gas - Cavendish sector note

Oil edged lower after a week of rangebound trading as investors weighed forecasts of an amply supplied market against increased attacks in the Red Sea. West Texas Intermediate dropped 0.9% to settle near $75 after trading in a roughly $4 range for the week. The US has launched multiple attacks on Houthi targets in Yemen as the Iranian-backed group continues to menace shipping off the coast. Still, the International Energy Agency expects robust supplies this year, and US data released Thursday sh

Oil & Gas - Cavendish sector note

Trinity Exploration & Production, Molecular Energies, Tethys Oil, Diversified Energy, Reabold Resources, 88 Energy, Impact Oil & Gas, TotalEnergies, Galp Energia, PetroTal, Hunting, SDX Energy, Angus Energy, Ascent Resources, John Wood Group, Chesapeake Energy, Southwestern Energy Source: Factset, weekly change 08.01.24-12.01.24 Oil rose after the US and its allies launched airstrikes against Houthi rebels in Yemen, retaliating for attacks on ships in the Red Sea that have imperilled flows of fu

SP Angel Morning Energiser: 10/01/24

Energy prices remain rangebound

Oil & Gas - Cavendish sector note

Trinity Exploration & Production, Diversified Energy, Getech Group, Plexus Holdings, Reabold Resources, Arrow Exploration, i3 Energy, Europa Oil & Gas, Union Jack Oil, United Oil & Gas, APA Corporation, Callon Petroleum, Chevron Corporation Source: FactSet, weekly change 01/01/24-05/01/24 Oil posted a weekly advance, bolstered by output disruptions in Libya and increased tensions in the Middle East. West Texas Intermediate rallied near $74 a barrel, posting a 3% weekly gain. Protesters in Libya

Oil & Gas - Cavendish sector note

88 Energy, Reabold Resources, Savannah Energy, Molecular Energies, Tethys Oil, Getech Group, Occidental, Gulf Keystone, Beacon Energy, Block Energy, Neptune Energy, Zephyr Energy, Tamboran Resources Source: FactSet, weekly change 21/12/23-15/12/23 Oil eked out a small gain for the week, snapping a seven-week losing streak, as signs that the Federal Reserve’s aggressive rate-hiking campaign is over bolstered risk assets. West Texas Intermediate settled little changed above $71 a barrel in the aft

Auctus on Friday - 15/12/2023

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.65 per share: Narrowing uncertainty and resources range at Anshof - The Anshof-2 well encountered high quality Eocene sands with at least 12 metres vertical thickness and porosity of ~20%. The reservoir quality is much better than at Anshof-3 and the sands are ~5x thicker. The top of the Eocene sand was encountered ~40-50 m higher than expected, suggesting a much larger and flatter structure th

Hybridan Small Cap Feast

13th December 2023 Small Cap Team will take a break until Monday 8 January 2024 after this Friday 15th December. Merry Christmas to all our readers. @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be

SP Angel Morning Energiser: 13/12/23

Oil slumps to 2H23 low

Hybridan Small Cap Feast - 11 Dec 23

11th December 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment obj

Alien Metals - Hancock Project, Mining Lease Granted

Alien today reports intraday that the Western Australian Government has granted a mining licence for the Hancock iron ore project for a 21-year term. The granting of the mining licence is the latest milestone delivered by Alien as it advances the project towards development and production.

SP Angel Morning View: Gold resilient as US interest rates climb on long-term inflation concerns

SP Angel Morning View: Copper prices hit $9,700/t as China smelts concentrates for zero charge Tc/Rc

NextSource Materials - Initiation

NextSource is uniquely positioned to build a leading vertically integrated position, ex China, in the supply of Lithium-ion battery anode material which is essential for the Energy Transition. The company is commissioning phase 1 of its world-class Molo graphite mine in Madagascar and is in the final permitting process for its first Battery Anode Facility (BAF) to be located in Mauritius. The company is backed by Vision Blue, established by Sir Mick Davis, former CEO of Xstrata. On our calculat

I3 Energy (I3E LN) - Canada royalty assets sale

I3 has announced the sale of the majority of its royalty interests in Canada, for US$24.8m cash. This allows the company to fully repay amounts drawn on its debt facility and create a working capital surplus, giving I3 significant additional funding flexibility going forward

SP Angel Morning View: Global Li-ion battery demand reaches all-time in Q1 2024

Challenger Energy (CEG LN) - £1.5m strategic investment in Challenger

Challenger has announced a £1.5m investment in the company from investor Charlestown Energy. This now allows Challenger to be fully funded for the foreseeable future as it works towards closure of its significant Uruguay farm out to Chevron, and the US$12.5m cash payment to be received once this is achieved.

Enwell Energy (ENW LN) - Q1 2024 update

Enwell has released its Q1 2024 update, showing ongoing production and limited natural decline versus the previous period, alongside further cash generation.

Jubilee Metals - Operational Update Q3 FY2024

Jubilee today reports its Q3 and third quarter operational results from its expanding operations in Zambia (copper) and South Africa (chrome and PGM). South Africa is on a growth trajectory with record chrome production of 409kt in the quarter (Q2 FY2024 381kt) and a monthly record in March of 145kt and production YTD of 1.13Mt (0.94Mt). Jubilee is well underway to its annual target capacity of 2,1Mt/yr especially with the new 300kt/yr chrome plant at Thutse expected to be operational in August

Tethys Oil AB (SSE: TETY): Increasing further the size of the prize

• 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, Tethys Oil’s unrisked recoverable prospective resources on the block are estimated to be 435.9 mmbbl (Pmean). • The geological chance of success ranges from 6% to 11% for the six

JEV: Exploring Spin-off for Hydrogen Assets

What you need to know: • JEV announced that it has commenced a strategic process to explore the spin-off of its hydrogen portfolio. We view this as a strong positive for shareholders. • Over the past month, JEV also closed a $2.2M private placement and amended the terms on its debentures, setting up the Company for this transaction. Yesterday after market close, Jericho Energy Ventures Inc. (JEV:TSXV, JROOF:OTC) announced that it has commenced a strategic process to explore the spin-off and s

Clean Power Hydrogen - New customers and licensees circling…

CPH2 has released FY23 results with the company completing the period with a slightly lower cash outflow from operations and a higher cash balance than forecast. Looking ahead, with a new and improved technical and engineering team, the company has committed to completing Factory Acceptance Testing of its first MW scale electrolyser, the 0.5MW MFE110, within the next three months. In our view, this will be a major milestone for the company which will demonstrate that its unique technology can be