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AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$1.00 per share: Very high impact exploration well encounters gas and condensate in Austria – The Welchau well (ADX WI: 75%) encountered 115 m of liquids-rich gas shows in the primary target formation (Steinalm Formation) between 1452 m and 1567 m. The deepest gas shows were encountered at a depth of 1645 m. The well has reached TD at 1733 m. The Steinalm Formation intersection in the well is in l
Companies: XOM TAO ALV ADX IVZ AKRBP GKP ALV TAO TXP TAL DNO UKOG ZPHR ENOG SAVE DEC CHAR TETY AOI CNE XOM TETY DNO
Auctus Advisors
Euro gas rises on heatwave
Companies: TAO MAY PTAL TAO TLW PMG
SP Angel
OPEC+ meeting on Monday
Companies: TAO TAO PANR PMG JOG
EU sets lofty gas price cap
Companies: PVE JSE TAO EOG DELT PMG PXEN
TAG Oil (TAO CN) (not covered): Results for the quarter ending 31/03/2019 | Potential asset swap in the North Sea? | Africa Oil (AOI CN/SS): BUY, C$2.60; Farm-in offshore South Africa
Companies: Africa Oil Corp. (AOI:TSE)TAG Oil Ltd (TAO:TSX)
Stifel FirstEnergy
TAG Oil (TSE:TAO) recently published results for the financial year to March 31, 2018. The company reported revenues up 1.4% at C$23.67mln, and operating netback per barrel of oil equivalent (see table footer for definition) of C$30.66 versus C$24.88 in the previous year. Oil and gas production was 1,120 boe (barrels of oil equivalent), coming primarily from TAG Oil’s core producing assets in the Taranaki basin, New Zealand.
Companies: TAG Oil Ltd
Proactive
TAG Oil (TAO CN); TAG reports fiscal year-end 2018 results and 2019 guidance | Energean Oil & Gas (ENEG LN) (not covered): Favourable tax ruling in Greece | Hess (HES US) (not covered): Not selling Denmark any more | Sound Energy (SOU LN) (not covered): Placing | Soco International (SIA LN) (not covered): Sale of Angola interests | Wentworth Resources (WRL LN)1,6; BUY, £0.35: Payment in Tanzania
Companies: TAO PHAR SOU ENOG WEN 0J50
TAG reported fiscal 4Q18 (January to March 2018) results that were behind expectations. Production of 1,117 boe/d was impacted by offline wells and cash flow of nil was impacted by repairing offline wells and one-time accounting charges. For fiscal year 2019, TAG is guiding toward production of 1,300 boe/d and capital expenditures of C$12.4 mm. We have reduced our estimates to come in line with company guidance. TAG is guiding for a fiscal year-end 2019 production rate of 1,700 boe/d. The exit
TAG Oil (TAO CN)1 ; BUY, C$0.75: Fiscal 3Q18 results overshadowed by pending Pukatea-1 exploration well results | S.N.G.N. Romgaz (SNGR LN) (not covered): 2017 preliminary report in Romania | Genel Energy (GENL LN): HOLD, £1.60; Receipt of payment in Kurdistang
Companies: TAG Oil Ltd (TAO:TSX)Genel Energy PLC (GENL:LON)
TAG reported fiscal 3Q18 (October to December 2017) results, which included production of 1,043 boe/d tracking below expectations due to shut-in wells, while cash flow of C$2.7 mm was in line with expectations. As previously reported, the Pukatea-1 exploration well has encountered over 10 metres of net pay in the shallower Mt Messenger formation and continues to drill toward the deeper and potentially more prospective Tikorangi Limestone. The well is expected to take another seven to 10 days to
TAG Oil Ltd (TSE:TAO) has announced that it and its joint venture partner, Melbana Energy (30%), have commenced drilling operations operations on the Pukatea-1 exploration well, with the Nova-1 drill rig mobilized to the drilling pad in mid-January and drilling currently underway.
Frontera Energy (FEC CN)6 ; BUY, CN$53.00: Frontera’s 3Q17 cash flow impacted by a build in inventory and pipeline downtime | Madalena Energy (MVN CN) (not covered): 3Q17 update in Argentina | Touchstone Exploration (TXP CN)1,6; BUY, C$0.50: Better than expected cash flow in 3Q17 and expanded development drilling program | Niko Resources (NKO CN) (not covered): 3Q17 results | TAG Oil (TAO CN)1; BUY, C$0.75: Fiscal 2Q18 results that benefitted from strong realized pricing | Exillon Energy (EXI LN
Companies: AOI MVN NKRSF TAO TXP ELA SAVE 0PRL ORC/B
TAG reported fiscal 2Q18 (July 2017 to September 2017) production of 1,151 boe/d and cash flow that was better than expected at C$1.5 mm (US$1.2 mm). The company is planning to drill the Pukatea-1 exploration well in early calendar 2018e. There is the potential that the company will farm-down its 70% WI to reduce financial exposure. The well is targeting a P50 unrisked resource estimate of 12 mmboe. Our fiscal 2018e and fiscal 2018e production and financial estimates remain relatively unchanged.
TAG Oil Ltd (TSE:TAO) is a Canada-based oil and gas production and exploration company publicly listed in Toronto and with extensive operations and production infrastructure in the Taranaki Basin of New Zealand, as well as in Australia’s Surat Basin. We believe that development and exploration opportunities, in proven discovery fairways within the current portfolio, position TAG Oil Ltd (TSE:TAO) for future reserves and production growth. As a low cost/high netback oil and gas producer, TAG Oil
Research Tree provides access to ongoing research coverage, media content and regulatory news on TAG Oil Ltd. We currently have 0 research reports from 4 professional analysts.
Since November, the JOG share price has moderated from a high of 250p to current levels of 149.5p. This is despite JOG having now made significant progress towards FID on its c.70mmboe Buchan project, with FID upcoming later this year. In our view this share price move is unjustified, with current levels further enhancing the value on offer, and making an attractive opportunity for investors.
Companies: Jersey Oil & Gas PLC
Zeus Capital
i3 Energy has announced that it has refinanced its Trafigura straight-line amortising facility with a traditional RBL facility provided by a Canadian chartered bank. We believe that i3 Energy's shareholders stand to benefit considerably from the restructured balance sheet because it is significantly better adapted to the company's needs, in our opinion. We believe the new RBL facility will free funds for growth and provide better long-term balance sheet stability, while significantly reducing in
Companies: i3 Energy Plc
WHIreland
i3 has announced a refinancing of its C$75m Trafigura debt facility, increasing liquidity for the company to pursue further growth initiatives. i3 has also announced its end 2023 reserves update, showing significant replacement of production during the year.
Diversified Energy, Touchstone Exploration, Savannah Energy, Chariot, Plexus Holdings, Energean, Gulf Keystone Petroleum, PetroTal Corp, Ithaca Energy, Pantheon Resources, Serinus Energy, Angus Energy, Aker BP, Equinor, BlueNord ASA, Invictus Energy Source: FactSet, weekly change 18/03/24-22/03/24 Oil edged lower to settle below $81 a barrel after a stronger dollar curbed investor appetite for commodities, offsetting signs of a tighter global crude market. Refined product supplies are looking m
Companies: TXP POS SAVE DEC CHAR
Cavendish
Companies: Good Energy Group PLC
Canaccord Genuity
Results demonstrate Bretana cash flows that allow growth CAPEX and dividends. PetroTal has produced a solid set of 2023 results. These show the cash flow generating capability of the company’s Bretana field in Peru, which enables PetroTal to both expend growth CAPEX while also making material returns to shareholders.
Companies: PetroTal Corp.
Companies: FOG PEB KBT EMR TIME GETB JNEO
The company's business structure is evolving and diversifying into several compelling and complementary businesses. The opportunistic, potential sale of its producing shallow assets would represent a significant change and the company's openness to realise value from that sale speaks to the company's prioritisation of shareholder interests and shareholder value creation. The current year will be significant for many of the company's growth businesses as they establish their first significant com
Companies: Caspian Sunrise PLC
Central Asia Metals (CAML LN) reported full year earnings with net revenue of US$197m down 12% YoY (-1% against VSA estimate) owing to lower commodity prices and modestly lower output albeit comfortably within guidance. EBITDA of US$97m was down 27% YoY marginally below our estimate as the lower top line combined with inflationary pressure. However, group COGS ex-D&A increased 8% YoY, far lower than in-country inflation. A flagged increase in taxation in Kazakhstan meant that net income was US$3
Companies: Central Asia Metals Plc
VSA Capital
• YE23 2P reserves were estimated at 11.8 mmboe, including 0.7 mmboe for Canada and 4.6 mmboe non-core, leaving 6.5 mmboe for the company’s core Colombian assets. This compares with 2.1 mmbbl at YE23 plus 3.9 mmbbl for Carrizales Norte reported in September for a total of 6 mmbbl. Adding back 0.6 mmbbl (net) produced at Tapir in 2023 suggests that Arrow has added 1.1 mmbbl at its core Colombian assets since the latest reserve reports (September 2023 for Carrizales Norte and YE23 for the other a
Companies: Arrow Exploration Corp.
Companies: Diversified Energy Company PLC
Tennyson Securities
• FY23 production, YE23 net cash and YE23 reserves and resources had been reported previously. • The FY24 production guidance of 21.5-24.5 mbbl/d with US$205-235 mm opex and US$135-155 mm capex has been re-iterated. • Current production continues to be high, with average production for the first half of March of ~23,000 bbl/d, including ~7.9 mbbl/d for Jasmine, 7.2 mbbl/d for Nong Yao, 2.9 bbl/d for Manora and 4.9 mbbl/d for Wassana. Production at Wassana is particularly high. • Valeura will als
Companies: Valeura Energy Inc.
Companies: FOG TND BVXP ACC HDD
Companies: PMG DUKE CMCL BOOM
Companies: Pantheon Resources plc
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