Auctus on Friday - 03/03/2023

AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN) C; Target price of A$0.50 per share: Good well results in Colombia – The RCE-3 well flowed naturally at rates equivalent to 2,000 bbl/d gross for four hours after unloading kill fluid. Over the last 24 hours, the well has produced at a rate of 968 bbl/d with 0% water cut. This is a very good result and compares with expectations of 600-800 bbl/d. The fact there is no water being produced at that the well i

SP Angel Morning Energiser: 02/03/23

Cold snap boosts European LNG inflows

SP Angel Morning Energiser: 28/11/22

Crude sinks on China unrest

Auctus on Friday - 04/11/2022

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU) C; Target price of A$0.070 per share: Anshof Reserves estimate well above expectations – RISC estimates that the Anshof field holds 5.2 mmboe of 2P gross reserves (4.2 mmboe net to ADX). This is well ahead of our expectations of ~1.8 mmboe. 85% of the previously estimated mid-case recoverable resources are now classified as 2P reserves. The 2P reserves estimate is based on an assumption of a water oil contact at 1,

SP Angel Morning Energiser: 30/09/22

EU meets to discuss gas price cap

SP Angel Oil & Gas Daily Flow: 08/04/22

Market Update: 8 April 2022

SP Angel Oil & Gas Daily Flow: 24/09/21

Market update - 24/09/2021

SP Angel Oil & Gas Daily Flow: 10/03/21

Market update - 10/03/2021

SP Angel Morning View: Chinese GDP growth accelerates on course for strong 2021

AEX Gold Inc (AEXG LN) –Operational update Cornish Metals* (CUSN LN) – AIM Admission – Writing the next chapter in Cornwall's long mining history Cornish Metals* (CUSN CN) – CLICK FOR PDF Europa Metals Limited (EUZ LN) – Drilling starts at Europa's Toral zinc, lead, silver project in Spain Caledonia Mining* (CMCL LN) – Record mine production at Blanket GoldStone Resources (GRL LN) – Settlement of Claim by Former Director IronRidge Resources* (IRR LN) – Further results from Zaranou gold ex

SP Angel . Morning View

AEX Gold Inc (AEXG LN) – Highly prospective exploration license granted in South Greenland | Arc Minerals* (ARCM LN) – Strong Buy – Anglo American move to next stage in potential deal with Arc over Zambian licenses | Kefi Gold and Copper (KEFI LN) – Preliminary drilling results at Hawiah point to resource expansion potential | Rambler Metals and Mining* (RMM LN) – Completion of US$13.25m fund raising and restructuring | SolGold* (SOLG LN) – Final assay results received for drill hole one at Por

Oil & Gas Daily Flow

Union Jack Oil* (UJO LN): West Newton B-1 appraisal update | Diversified Gas & Oil (DGOC LN): US$425m borrowing base reaffirmed | San Leon Energy (SLE LN): Further three-week extension to Decklar financing | Aminex (AEX LN): FFD program ongoing Chikumbi-1 to spud in 2022 | Deltic Energy (DELT LN): Prospective resources confirmed at License P2428 | Gulf Keystone Petroleum (GKP LN): SH-12 workover well completed on schedule and production restarted

Oil & Gas Daily Flow

Aminex PLC (AEX LN): Ruvuma Farm-out completed

Oil & Gas Daily Flow

Aminex (AEX LN): Ruvuma FOA extended by one month | Africa Energy (AFE TSX): Total spuds the Luiperd-1X well, offshore South Africa

Oil & Gas Daily Flow

Energean Oil & Gas (ENOG LN): Neptune pulls out of North Sea purchase | Aminex (AEX LN): Final condition of completion of Ruvuma farm-out satisfied | Nostrum Oil & Gas (NOG LN): Q1 2020 results highlight further financial and operational declines

Updated Alkaid #2 test results

SHORE CAPITAL - Savannah Energy+ (SAVE, Under Review, Suspended) - Chad upstream asset update

Loony for Bougouni

FY22 results update

Diversified Energy reported FY22 results that were slightly ahead of our expectations and we raise our 2023 EBITDA estimate by +3% ahead of what the group expects to be a ‘transformational' year.

Jubilee Metals - H1 FY2023 results

Jubilee today provides its unaudited financial results for the half-year period ending December 2022. Group Revenue of £63.1m (H1 FY2022: £63m) with £58m from its chrome/PGM operations in South Africa and £5m from copper in Zambia. Headline EBITDA of £10.3m (£13.7m) with a closing cash position of £11.7m (£21.5m) after continuing its capital investment program of £24.1m (£28.4m). Production of PGM was down in the period at 18.2koz (20.3koz), but all was from its own facility at Inyoni so cap

Union Jack Oil (UJO LN) - Wressle update

Ongoing strong production from Wressle. Union Jack has released an update on revenues from its Wressle field (Union Jack 40%). Wressle has now achieved over US$14m of cumulative net revenues from the field since mid-August 2021, from US$13m as of early February 2023. The field continues to produce under natural flow and with zero water cut (most recently reported at a gross rate of 825-850bbl/d). These Wressle revenues continue to help underpin company financial performance, while also providing

Wide margins maintained despite inflation headwinds

The inherent low-cost structure of CAML’s Kounrad and Sasa operations shone through in 2022 as the group delivered a very stable financial performance in the face of significant macro-economic headwinds. Neither operation was fully immune to global inflationary pressures, but they nonetheless drove EBITDA and free cash flow (FCF) generation to an impressive $132m (a margin of 57%) and $90m respectively, only a little below 2021 levels despite the macro challenges. This enabled CAML to continue t

Union Jack Oil (UJO LN) - Interim dividend declaration

New interim dividend of 0.3p. Union Jack has announced an interim dividend of 0.3p/share. This follows the 0.8p/share paid in 2022, and is enabled by the ongoing cash flows being generated from the company's Wressle development. Union Jack's share buyback programme also continues, with 2,825k shares repurchased so far (out of a potential up to 11.3m).

Hybridan Small Cap Feast - 06 Mar 23

6 March 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 objective

Jersey Oil and Gas (JOG LN) - Positive farm out progress

JOG has announced an update on its GBA project farm out, where the process would appear to be nearing a positive conclusion

LIBERUM: Caledonia Mining* - Model updated

Morning Note – 27 March 2023

Operations update

FY22 - Focus on the next 6 months' operations

Busy operations programme delivers positive results