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Oil up on huge EIA crude draw
Companies: OKEA MSMN GKP CEQ PNOR EOG EDR UJO I3E PNOR OKEA
Crude up on Ukraine threats
Companies: OKEA TMK TPD GKP TALO DNO HBR RRRP3 TALO ORRON DNO OKEA
ADX Energy (ADX AU)C; target price of A$0.10 per share: Securing additional loan to prepare for drilling – ADX is issuing A$1.5 mm of loan notes with a term of 18 months. A$1.0 mm of the loan notes carry an interest rate of 8% per annum with 30 mm options with an exercise price of A$0.01 per share and 30 mm options with an exercise price of A$0.014 per share. The balance of the loan notes carry an interest rate of 12% per annum with 2
Companies: OKEA OMV ADX AKRBP MAHAA OMV AOI DNO PNOR TLW DELT TRIN ZPHR IOG CHAR MATD PRD PNOR GTE VLE DNO OKEA
Crude edges above $80/bbl on USD weakness
Companies: OKEA IVZ MSMN TRIN PRD OKEA
Criterium Energy (CEQ CN)C; target price of C$0.55 per share: Financing priced – The C$22 mm offering for the acquisition of Mont D’Or Petroleum has been priced at C$0.20 per subscription receipt. Each subscription receipt will convert into a unit comprising one share and one warrant with an exercise price of C$0.25 per share valid for 36 months. On completion of the acquisition, Criterium will hold 1,050 bbl/d long life and high netba
Companies: OKEA ALV BLOK AKRBP ALV COPL DME CEQ TAL LBE CNE OKEA
ADX Energy (ADX AU)C: Target price of A$0.100 per share: 1Q23 in line with expectations. Growing production at Anshof – 1Q23 production was 299 boe/d including 88 bbl/d for Anshof. In March net production from Anshof has increased to 94 bbl/d. Overall net production in March including the Zistersdorf & Gaiselberg fields (Z&G) was 336 boe/d. Additional site storage is planned to be installed at the Anshof-3 well location in June which
Companies: PEN EQNR OKEA ALV ADX CE1 HHR REP AOI ALV AXL FEC CNE REP BP/ ENW CNE IOG LBE CHAR CNE PEN EQNR GTE VLE OKEA
ADX Energy (ADX AU)C: Target price of A$0.100 per share: 1Q23 update – 1Q23 production in Austria was 299 boe/d. The company held A$3.41 mm in cash at the end of March.
Criterium Energy (CEQ CN)C: On track for near term acquisition – The FY22 financials were in line with our expectations. The company held C$3.7 mm in cash at YE22. Criterium has also filed the notice of intention to file a short form prospectus. This could be an indica
Companies: PEN ENI OKEA HES OMV ADX HHR REP AKRBP GKP OMV JSE CEQ TAL CNE TXP REP TLW EOG HBR CNE TRIN RBD UKOG NOG SDX UOG CEG SEPL TTE PEN HES ENI OKEA
Arrow Exploration (AXL LN) C; Target price of £0.45 per share: Good flow rate at RCE-4 – The RCE-4 well has been put in production. It has produced at a rate of 728 bbl/d (364 bbl/d net to Arrow) of 28.5 API oil with a 1% water cut from the C7-A and C7 Stringer zones over the last 24 hours. This is a similar result as at RCE-3 (24 h flow rate of 968 bbl/d gross/484 bbl/d net). As was the case at RCE-3, the RCE-4 well is also flowing na
Companies: ENI TCFF OKEA CE1 HHR GKP AXL TXP CNE EDR PHAR CNE ZPHR ENOG NOG LBE SAVE TETY R4Y GENL CNE ENI TETY VLE GEEC OKEA
Energy prices extend losses
Companies: OKEA EDR MEN NOG ATOM GEEC SENX OKEA
Crude price stalls ahead of Fed decision
Companies: OKEA ITM DEC OKEA
Baltic Pipe now fully operational
Companies: OKEA AKRBP VAR OKEA
Price volatility on war escalation fears
Companies: OKEA TLW PMG VAR OKEA
API reports US oil draws
Companies: OKEA MEN SENX OKEA
In this note, we analyze the indebtedness of 35 international E&Ps publicly listed in the UK, Canada, Norway, Sweden and the USA. For each company, we look at (1) cash position, (2) level and nature of debt (including covenants), (3) debt service and principal repayment framework and (4) Brent price required from April to YE20 to meet all the obligations and keep cash positions intact. We also estimate YE20 cash if Brent were to average US$20/bbl from April to YE20. While the oil demand and oil
Companies: 0MDP GKP AOI CNEC JSE PXT PTAL TXP TGL TLW HBR PHAR HUR ENQ CNE IOG ENOG SDX RRE DEC GENL WEN SEPL ARC 0N08 3SX LYV 0GEA 0A1V GTE KOS EGY ORC/B
Panoro Energy (PEN NO)C: Initiating coverage | 88 Energy (88E LN/AU): Acquisition in Alaska | BP (BP LN): Transaction in Alaska with Hilcorp renegotiated | Columbus Energy Resources (CERP LN): Oil discovery in Trinidad | Premier Oil (PMO LN) and Rockhopper Exploration (RKH LN): Sea Lion farm out (Falklands) exclusivity period extended | BP (BP LN): 1Q20 results | Equinor (EQNR NO): Dry hole in Norway | Getech (GTC LN): Business update | Hurricane Energy (HUR LN): Business update in the UK North
Companies: OMV 88E FAR 0VH4 TTE BP/ SHEL RKH GTC CASP HBR HUR UKOG CERP SCIR NOG SAVE RRE STAR AEX PTR SLE GENL FNK SEPL DNQ 0N08 3SX LYV 0A1V ORC/B
Research Tree provides access to ongoing research coverage, media content and regulatory news on OKEA ASA.
We currently have 46 research reports from 4
Companies: Trident Royalties Plc
Companies: Sylvania Platinum Ltd.
PetroTal is a London and Toronto-listed E&P company, holding a 100% interest in the Bretana field, onshore Peru. This delivered production of 19.0mbbl/d in Q2 2023, supporting strong cash flows for the company based on its established oil export routes, onshore cost profile and fiscal terms. On the back of these cash flows and a healthy balance sheet, PetroTal has now established returns to shareholders. As such, the stock offers a strong prospective yield of over 10%, alongside production grow
Companies: PetroTal Corp.
Companies: Pantheon Resources plc
• The US$2.7 mm cash position at the end of June is in line with our expectations.
• Although inflation across the industry and rig availability had complicated and delayed the finalization of a farm-in agreement for Anchois in Morocco, negotiations on partnering are in the final stages. A partner could be announced very soon.
• Progress has been made across the portfolio. Onshore Morocco, permitting is under way with drilling now expected to start in early 2024 with up to four wells. Prospects
Companies: Chariot Limited
Diversified reported strong interim results, with production that was marginally below our estimate more than outweighed by tight cost control to deliver EBITDA ahead of our forecast; we broadly retain our FY23 estimates.
Companies: Diversified Energy Company PLC
We initiate coverage of Bushveld Minerals (“BMN”) with a price target of GBp9/sh, implying 339% upside to the current price. BMN is a fully integrated vanadium producer that operates mines and plants in South Africa, which we estimate will produce 3,700t of vanadium in 2023E, accounting for >3% of global supply. After operational difficulties, pricing headwinds, and associated balance sheet stress led to a steep de-rating in BMN shares, we expect a rerating to be driven by growing production and
Companies: Bushveld Minerals Limited
Hannam & Partners
PetroTal has announced production numbers for July and August, maintaining full year guidance, alongside providing an operational update.
Bushveld Minerals (“BMN”) has announced that it has signed a binding term sheet with a South African investment group, Southern Point Resources (“SPR”), that should provide a strengthened balance sheet and greater financial flexibility through cumulative funding of up to US$69.5m-US$77.5m. As part of the funding package, BMN will sell down 50% of its interest in the Vanchem plant and its 64% interest in the Mokopane deposit for a total consideration of US$25m. In our view, this package represent
Jersey Oil & Gas released its interim results for the period ended 30 June 2023 indicating that it had a period-end cash position of £5.6M, with no debt. The company stated that further cash receipts amounting to $9.4M will be due on completion of the FPSO acquisition agreement and $12.5M on Buchan FDP approval (from NEO Energy, pursuant to the farm-out agreement).
Companies: Jersey Oil & Gas PLC
The quality of CAML’s asset base came to the fore yet again in H1 2023 as the group maintained an impressively wide EBITDA margin despite the twin challenges of weaker base-metal prices and inflationary pressures on costs. The robust financial performance enabled CAML to declare a 9p interim dividend, maintaining its position amongst the top yielders in the junior mining sector. Capex requirements should reduce materially from next year as the project to transition to more flexible and sustainab
Companies: Central Asia Metals Plc
Alternative Resource Capital
Blythe H2 well production update. IOG has released an operational update. This reports that gross production from the Blythe H2 well declined from 27.7mmcf/d to 21.2mmcf/d over the course of August, from an initial stabilised rate of 32mmcf/d in early July, with an average rate of 17.8mmcf/d gross achieved over August due to a planned one-week shutdown of the Bacton terminal.
Companies: IOG PLC