Cenkos: Oil & Gas Sector -- Chariot, Wentworth Resources, Jadestone Energy, IOG, Reabold Resources, Union Jack Oil, Hartshead Resources, Southern Energy, Zephyr Energy, ADM Energy, Lamprell, Gulf Keystone Petroleum, TransGlobe Energy, Phoenix Global Resour

Oil posted its first back-to-back weekly loss since early April as fears of a demand-sapping global recession and tighter US monetary policy ripped through commodity markets to spur a broad sell-off. West Texas Intermediate fell 1.7% for the week to settle at $107.62. US Federal Reserve Chair Jerome Powell's hawkish testimony to Congress earlier in the week overshadowed a fundamentally tight market. Prices clawed back some of the week's losses Friday as the University of Michigan's final June

Cenkos: Chariot Ltd -- Fast-Tracking the Anchois Development

Chariot has signed a front-end engineering and design (FEED) agreement with Schlumberger and Subsea 7 (the Subsea Integration Alliance) for the Anchois gas development project. Chariot and the Subsea Integration Alliance will adopt a “one team” integrated and collaborative approach to fast-track first gas from Anchois to maximise the return on investment for all stakeholders. The scope of work covers all the development's offshore elements including well completions and subsea production systems

SP Angel Morning Energiser: 20/06/22

Inflation concerns dent oil prices

Cenkos: Oil & Gas Sector -- Wentworth Resources, Scirocco Energy, Tethys Oil, Rockhopper Exploration, Longboat Energy, Centrica, Equinor, SDX Energy, IGas Energy, Valeura Energy, Orcadian Energy, Eco (Atlantic) Oil & Gas, Hurricane Energy, PetroNeft Resour

Oil fell the most in three months as Federal Reserve Chair Jerome Powell doubled down on his determination to curb the hottest inflation in decades with more aggressive rate hikes. West Texas Intermediate dropped to $109.56, shedding 6.8%, the biggest daily drop since March. Powell this week openly endorsed for the first time raising interest rates well into restrictive territory, a strategy that's often resulted in an economic downturn and could blunt energy consumption. On Friday he reitera

Cenkos: Oil & Gas Sector -- Chariot, Empyrean Energy, Savannah Energy, Jadestone Energy, Serica Energy, Gran Tierra Energy, Kistos, Sound Energy, Longboat Energy, i3 Energy, Clontarf Energy, Bowleven, Southern Energy, SDX Energy, Arrow Exploration, Predato

Oil posted its seventh weekly gain as tight fuel-supply balances sustain bullish fundamentals, though headwinds brought on by accelerating US inflation capped crude's advance. West Texas Intermediate fell 0.7% after trading in a $4 range during a volatile session on Friday. Despite the fall, WTI ended the week 1.5% higher. The US Labor Department reported inflation quickened to a 40-year high, chilling broader markets and potentially signalling to the Federal Reserve to extend an aggressive

Cenkos: Oil & Gas Sector -- Diversified Energy, Tullow Oil, Capricorn Energy, SDX Energy, Rockhopper Exploration, Arrow Exploration, Egdon Resources, Union Jack Oil, Europa Oil & Gas, United Oil & Gas, IOG, Hurricane Energy, Tower Resources, Baron Oil, Bor

Oil posted a sixth weekly gain after a keenly anticipated OPEC+ meeting delivered only a modest increase in output that failed to assuage concerns over a widening supply deficit. West Texas Intermediate rose to settle above $118 and set a weekly gain of 3.3%. On Thursday, the producers cartel agreed to a production hike, but it only amounts to 0.4% of global demand over July and August. Meanwhile, job growth in the US topped estimates, signalling continued economic growth which will bolster

Cenkos: Oil & Gas Sector -- Trinity Exploration & Production, Chariot, SDX Energy, Reabold Resources, Phoenix Global Resources, PetroTal Corp, Energean, Angus Energy, IOG, EnQuest, Southern Energy, Nostrum Oil & Gas, Caspian Sunrise, Reabold Resources, Egd

Oil prices rose on Friday, closing out the week with gains ahead of the US Memorial Day holiday weekend, the start of peak US demand season, and as European nations negotiate over whether to impose an outright ban on Russian crude oil. Brent crude rose $2.03, or 1.7%, to settle at $119.43. US West Texas Intermediate (WTI) crude rose 98 cents, or 0.9%, to settle at $115.07 a barrel. For the week, Brent rose 6% while WTI gained 1.5%. Prices drew support from strong worldwide demand for fuel,

Cenkos: Chariot Ltd -- Feasibility Study Hints at Green Hydrogen Potential

A pre-feasibility study for the c10 GW green hydrogen project named “Project Nour” has confirmed that Mauritania is exceptionally well-placed for green hydrogen due its world class solar and wind resources, with the project having the potential to produce some of the cheapest green hydrogen in the world. With up to 10GW of electrolysis installed, Project Nour has the potential to become one of the largest green hydrogen projects globally by 2030. Geographically proximal to the European markets,

Cenkos:Oil & Gas Sector - 23 May 2022

Cenkos:Oil & Gas Sector - 23 May 2022

Cenkos: Chariot Ltd - Oversubscribed Placing and Subscription

Chariot has conditionally raised gross proceeds of US$25.5m (before costs), providing the Company with sufficient funds to advance the Anchois Gas Development towards a Final Investment Decision (FID) and to progress its renewable power pipeline. The placing was significantly oversubscribed, highlighting the market's confidence in Chariot's business model and its management team. We maintain our price target at 51p, with the recent rise in the European gas price forward curve offsetting the dilu

Auctus on Friday - 20/05/2022

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.060 per share: Adding very high impact gas exploration in Austria - The ADX-AT-1 and ADX-AT-II licence areas have been expanded from 450 km2 to an area now encompassing 1,022 km2 at a minimal cost. The additional licence areas will be valid for up to 16 years without any relinquishment foreseen. The associated work programme can be covered by the drilling of one well. The portfolio expansion in

Cenkos: Oil & Gas Sector -- Tethys Oil, 88 Energy, Empyrean Energy, Longboat Energy, Neptune Energy, Sval Energi, TransGlobe Energy, Harbour Energy, Kosmos Energy, Touchstone Exploration, Genel Energy, Serinus Energy, i3 Energy, Orcadian Energy, Energean,

Oil climbed as a global squeeze on refined products continued to pull fuel prices higher with Russian diesel exports falling sharply. West Texas Intermediate rose 4.1% on Friday and eked out a weekly gain of 0.7% after a series of tumultuous trading sessions where lowered liquidity exacerbated price moves. Diesel exports from Russia dropped in April from their pre-war level as oil buyers seek to punish one of the world's biggest suppliers. Investors have also been keeping a close eye on Chi

Cenkos: Oil & Gas Sector -- Empyrean Energy, Falcon Oil & Gas, Trinity Exploration & Production, Tethys Oil, Gran Tierra Energy, Vaalco Energy, Shell, Equinor, IOG, Echo Energy, Reabold Resources, Nostrum Oil & Gas, Panoro Energy, ConocoPhillips, Petrobras

Oil closed Friday at a six-week high on signs the market is tightening as members of the European Union moved closer toward banning Russian crude. West Texas Intermediate futures posted its first back-to-back weekly gain in two months. The EU intends to ban Russian crude in six months and oil products by the end of the year to punish Moscow for its war on Ukraine. The bloc has proposed giving Hungary -- which has pushed back against an embargo -- and Slovakia an extra year to comply, people f

Hybridan Small Cap Feast 26/04/22

What’s cooking in the IPO kitchen? According to Proactive Investors, Bridgepoint is said to preparing to list Burger King UK on the London Stock Exchange as early as this spring. A valuation of £600m is expected. Lift Global Ventures plc to join AQSE Growth Market. The Company's investment strategy is to operate as an enterprise company seeking acquisition or investment opportunities within the financial media and technology industries. Within these broad industries, areas of focus may include:

Cenkos: Oil & Gas Sector -- Empyrean Energy, Trinity Exploration & Production, Serica Energy, Rockhopper Exploration, Southern Energy, United Oil & Gas, Canadian Overseas Petroleum, Gran Tierra Energy, President Energy, Hurricane Energy, BHP Group, Santos,

Oil dropped for the third week out of the last four with China facing a large consumption hit and the Federal Reserve signalling that it will aggressively tighten monetary policy to curb inflation. West Texas Intermediate fell over $4 this week, settling near $102 a barrel after a volatile trading week. Fuel consumption in China, the world's biggest crude importer, is expected to drop 20% in April from a year ago, according to people with inside knowledge of the country's energy industry.

SHORE CAPITAL - SAVANNAH ENERGY+ (SAVE, 38p, Under Review) – Agreement in Chad for new renewable energy projects

IOG - Forecast and valuation update

Forecast and valuation update

SHORE CAPITAL - SAVANNAH ENERGY+ (SAVE, 40p, Under Review) – FY21 results; completion of Chad-Cameroon entry expected in Q3

Exceptional transformation… and it may be just a beginning

With several opportunistic but timely acquisitions in 2021, coupled with the recent surge in the oil price, Zenith Energy has, in our view, completely transformed itself and its value proposition to investors. While for various reasons it has not been easy for the market to fully recognise and reward this transformation, we expect 1) doubling production, 2) further strengthening of its balance sheet and 3) becoming Free Cash Flow (FCF) generative this year, will make it difficult for the market

Pantheon Resources (PANR) - Significant Increase in Fair Value Estimate

We are increasing our fair value estimate for Pantheon Resources to 208p, from under review (previously 184p). The change reflects what we believe was an unambiguously positive winter drilling campaign. This full note details the background analysis to the change in estimate of fair value, which includes a valuation table and an assessment of the forthcoming Alkaid#2 well.

IOG - Trading update

Trading update

AfriTin Mining: Operational efficiencies continue to drive down unit costs in another record quarter for Phase 1

AfriTin Mining (“ATM”) has announced another record-breaking quarter from Uis Phase 1. Tin production increased 13% QoQ to 152t for the three months to May (Q1 FY’23), supported by record recoveries, which along with cost initiatives drove a 16% improvement in All-In Sustaining Costs. The strong performance continues to support growth projects including incorporation of petalite lithium and tantalum by-products, upon which AfriTin recently announced positive drilling and metallurgical test work

Arrow Exploration - RCS-1 flow testing results

RCS-1 flow testing results

EQTEC - Key Milestone for Southport

EQTEC has reached a key milestone in its Southport energy from waste project with the appointment of Anaergia as EPC and O&M partner. This is a complex project using multiple waste treatment solutions and we see EQTEC’s inclusion as a demonstration that it’s technology can combine with these to create an optimal outcome.

Cenkos: Wentworth Resources Plc -- 7.1% Yield and Growth

Wentworth has announced a positive operational update ahead of its AGM to be held later today. Daily production year-to-date (YTD) has averaged 92.2MMscf/d, a c15% YoY increase (2021: 79.9MMscf/d) and ahead of Wentworth's 2022 guidance of 75-85MMscf/d. As noted previously, the strong performance of the Mnazi Bay asset YTD has allowed Wentworth to increase its total dividend distribution in respect of 2021 to 1.7p per share, a yield of c7.1%. Mnazi Bay continues to supply Tanzania with half of th

Cenkos: Trinity Exploration & Production Plc --Commencement of Drilling Programme

Trinity has announced the commencement of its highly anticipated onshore drilling campaign. The Company's fully funded, six well drilling programme will target an aggregate 450-1,100mmbbls of reserves at a cost of US$14-17m. In addition to drilling four “conventional” low angle wells, Trinity will also drill one horizontal well and one deeper appraisal well, with both the horizontal and deeper appraisal wells having the potential to deliver substantially higher production and economic returns ve

PetroTal Corp (AIM: PTAL): 0.72 mmbbl sales will trigger a US$60 mm payment to PetroTal earlier than expected

• Section II of the Northern Peruvian Pipeline has been temporary re-opened. • As a result, 0.72 mmbbl of PetroTal’s Bretana oil has been tendered at the Bayovar port by Petroperu for the July lifting. This oil previously entered the pipeline in late 2020 for which PetroTal was paid just ~US$45/bbl at the time. • PetroTal will receive the difference between this price and the price at which Petroperu will sell the oil in July (~US$120/bbl), generating over US$60 mm of price adjustment true-up r

Cenkos: Wentworth Resources Plc -- Tanzania's Leading Domestic Gas Producer

Wentworth has announced the acquisition of a 25% non-operated working interest in the Ruvuma PSA from Scirocco Energy for an initial consideration of US$3m plus contingent payments of up to US$13m. The consideration is structured to ensure that the majority is only paid in a success case, providing Wentworth with a low-cost entry point into a high growth opportunity. The transaction has the potential to nearly double the Company's production by 2026 and add over 190Bcf of 2P reserves on a Final

Wentworth Resources plc (AIM: WEN): Delivering on targets

• 2022 YTD gross production was 92 mmcf/d, ahead of our expectations of 89 mmcf/d for 1H22. • The FY22 production guidance remains unchanged at 75-85 mmcf/d. It looks very conservative in our view. • The company currently holds US$26 mm in cash and no debt. This is in line with our expectations. • TPDC continues to be current with regards to receivables. • We re-iterate our target price of £0.45 per share. Steady growth and dividend Our Core NAV for the company based on its 2P reserves only i

WH Ireland: Savannah Resources (SAV) - Locked cycle flotation tests confirms recoveries and grades

Savannah, which operates the Barroso lithium mine project in Portugal, reports today the results of its locked cycle test to determine optimal flotation reagents to confirm lithium recoveries and spodumene concentrate grades. Savannah is aiming for a 5.5%Li2O concentrate grade with a near 80% recovery. The reported work confirms that these should be possible and that in larger scale, bulk testing these parameters may improve. The work also highlights that there are still optimisations to be h