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AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Adding further exploration prospects in FY24 - ADX has farmed out a 50% interest in an exploration area within the ADX AT I licence to MND in return for a A$0.73 mm back costs payment plus A$7.34 mm funding in exploration drilling. The exploration area farmed-out to MND includes the LICHT and IRR gas prospects. These prospects are close to infrastructure and considered low risk. O
Companies: ALV ADX SYN STO WDS IVZ HHR AOI ALV JSE SQZ PHAR ENOG LBE CHAR KIST ORCA
Auctus Advisors
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C: target price of A$0.08 per share: Funding from the Austrian Science Fund to collaborate on study at Welchau – The Austrian Science Fund will fund a scientific project in the Welchau area to better understand the geology of the area. An Environment Sustainability project will also be conducted by a group of experts funded by ADX. The project budget is A$0.75 mm to which the Austrian Science Fund will contribute A$0
Companies: ADX CE1 STO GKP AXL JSE PNOR I3E SDX LBE DEC CEG PNOR
Oil posted its second straight weekly decline as signals of additional crude supplies and a deteriorating global demand outlook loomed over a string of thinly traded sessions. The narrative of tight supplies that has driven crude's rally since June has faded amid prospects that the US will ease sanctions on Iran and Venezuela. Meanwhile, faltering growth in China and abysmal economic data in Europe have dimmed the outlook for demand. In the physical market, Marathon Petroleum Corp. is shutti
Companies: STO FOG TXP ITH WG/ 0N08 WDS
Cavendish
GeoPark (GPRK US) C: Target of US$27 per share: Doubling quarterly dividend – The highlight of the 2Q21 results is the doubling of the quarterly dividend to US$0.041 per share. Following the refinancing of its debt, GeoPark had indicated previously its ambitions to increase distributions. 5-6 wells will be drilled at CPO-5 in Colombia by the end of 1Q22. This includes 2-3 wells in 4Q21 (including 1-2 exploration wells) and 3 wells in 1Q22 (including 2 exploration wells). The first exploration w
Companies: STO 0MDP ALV ALV PXT BP/ CNE SDX VOG DEC GPRK GENL GTE CNE TGL ENI ENI
Santos (STO AU) to buy ConocoPhillips’ (COP US) northern Australia interests | Energean Oil & Gas (ENOG LN) (not covered): Disposal of Edison E&P North Sea assets
Companies: STO ENOG 0QZA
Stifel FirstEnergy
Santos (STO AU) (not covered): PNG farm-in | Premier Oil (PMO LN); BUY, £1.45: 1Q19 update | Reserves cut at Maria in Norway | Serinus Energy (SENX LN)1; Speculative Buy, £0.20: 1Q19 results | Tethys Oil (TETY SS)1,6; BUY, SEK85: Production update in Oman | Block Energy (BLOE LN) (not covered): Equity raise in Georgia | Genel Energy (GENL LN); HOLD, £3.00: Update in Kurdistan
Companies: STO HBR BLOE GENL 0A1V
Santos (STO AU) (not covered): Acquisition in PNG
Companies: Santos Limited
Madalena Energy (MVN CN) (not covered): Transaction in Argentina | Tag Oil (TAO CN); BUY, C$1.25: successfully tests Cardiff and Supplejack in New Zealand | LEKOIL (LEK LN) (not covered): Otakikpo Production Update in Nigeria | LEKOIL (LEK LN) (not covered): Otakikpo Production Update in Nigeria
Companies: STO MVN TAO REPC FNK
Tag Oil (TAO CN); BUY, C$1.25: no major changes to estimates | Great Eastern Energy (GEEC LN) (not covered): Half Yearly Results ended 30 September 2016 | Santos (STO AU) (not covered): Farms into Papua New Guinea license | Premier Oil (PMO LN); SPEC. BUY; £1.20: 3Q16 Trading Update | DNO (DNO NO) (not covered): MoU in Iran | Orca Exploration (ORC.B CN): 3Q16 Results | Statoil (STL NO) (not covered): FID at Tanzania LNG delayed by five years
Companies: STO TAO HBR NK1A DNQ GEEC ORC/B
Research Tree provides access to ongoing research coverage, media content and regulatory news on Santos Limited. We currently have 0 research reports from 3 professional analysts.
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
Companies: Jubilee Metals Group PLC
WHIreland
Trinity has announced a c28% reduction to its 2P reserves following a YE23 review. Despite the decrease in the Company’s 2P reserves, Trinity’s core business remains robust, with a reserves/production ratio of >12.5 years at YE23. Whilst there is significant potential for growth within the current portfolio, this will be difficult to unlock from the current balance sheet and we believe further financing will be required. We update our target price to 76p (from 202p), a c85% premium to the curren
Companies: Trinity Exploration & Production Plc
Companies: BILN ELCO NXQ CUSN ATG
• The Nong Yao-13 exploration well in the new Nong Yao D area that was targeting multiple zones has encountered >30 feet of new oil play across several new shallow intervals which have not been produced elsewhere on the concession. These reservoirs are believed to be recurring across the Nong Yao D area. • The drilling result confirms that oil has successfully migrated into this area of the block (a factor that was seen to be a risk in the Nong Yao D area) and open the opportunity for further a
Companies: Valeura Energy Inc.
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
Companies: i3 Energy Plc
Zeus Capital
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
Companies: NextSource Materials Inc
Capital Access Group
Companies: 88E RNO TRIN KRM EXR BOOM
DEC reported FY23 results which were in line with expectations and announced the acquisition of joint venture assets from Oaktree along with an updated capital allocation framework.
Companies: Diversified Energy Company PLC
Dowgate Capital
Chariot, Energean, Touchstone Exploration, Longboat Energy, Hartshead Resources, BP, Helix Exploration, PetroTal, Pantheon Resources, Caspian Sunrise, Petrofac, DNO ASA, Valeura Energy, Aker BP, Var Energi Source: FactSet, weekly change 08/04/24-12/04/24 Oil rose as Israel braced for a possible attack from Iran, a development that would threaten major disruptions in a region that accounts for a third of the world’s crude output. An assault is expected to come as soon as the next 48 hours, which
Companies: HHR TXP LBE CHAR
Union Jack has released an update on its Wressle asset, reporting maturing production from Wressle-1, alongside progress for significant further development activities on the field going forward.
Companies: Union Jack Oil Plc
Companies: PLL TLG HZM SAV KAV KP2 SVML
SP Angel
Pharos Energy reported FY23 results on 27 March. Group net production of 6,508 boepd (FY22: 7,166 boepd) was in line with guidance, assisted by successful development drilling in Vietnam and exploration successes in Egypt. Pharos’s strong cash generation resulted in a stronger balance sheet, with net debt reduced to US$6.6m (from US$28.9m at the end of 2022) and cash balances totalling US$32.6m. This left the group free to return more cash to shareholders, including a 10% increase in dividends,
Companies: Pharos Energy PLC
Progressive Equity Research
Shore Capital
Hunting has released its Q1 trading statement, reporting a strong period for OCTG and Subsea, steady growth in Advanced Manufacturing, and a softening in Perforating Systems.
Companies: Hunting PLC
Union Jack announced an operational update on its onshore UK Wressle field and confirmed plans to announce the payment of a cash dividend to shareholders along with the FY23 results in May. Wressle continues to deliver material revenues to the Company, generating positive cash flow and providing it with sufficient cash resources to fund shareholder returns and invest in new development projects.
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