Hybridan Small Cap Feast - 30 Jan 23

30 January 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 object

Chariot Limited (AIM: CHAR): Bringing water desalination capabilities in house is important for the green hydrogen business

• Chariot is acquiring ENEO Water PTE for US$0.5-1.0 mm in Chariot shares. • ENEO utilises an efficient, modular and scalable reverse osmosis technology that can be entirely powered by solar energy to produce desalinated water. ENEO is developing a proof of concept at a windfarm on the Red Sea in Djibouti that is under construction and is intended to provide local communities with access to potable water for the next 20 years. The capex of the project is very small (a few hundred thousand US dol

Cenkos: Chariot Ltd -- ENEO Acquisition

With desalinated water a key component in the production of green hydrogen, Chariot has announced the strategic acquisition of ENEO Water, an African company focused on delivering clean water solutions using renewable energy. An initial consideration of US$0.5m will be payable in shares on completion, with a further US$0.5m payable on the achievement of financial close on further projects. The technology used is both modular and scalable, meaning that Chariot can expand the offering beyond the i

Cenkos: Oil & Gas Sector -- GETECH Group, 88 Energy, Trinity Exploration & Production, Tethys Oil, Tullow Oil, Gran Tierra Energy, United Oil & Gas, IOG, Predator Oil & Gas, Pantheon Resources, Var Energi, OKEA ASA, Aker BP, Hess Corporation, Woodside Ener

Commodity Prices Bulls approached and quickly withdrew from oil's 100-day moving average, driving crude to its first weekly loss since the start of the year. West Texas Intermediate shed 2% this week with much of that retreat occurring on Friday. Throughout the week, oil rallied on optimism driven by China's gathering rebound only to swing as risk-off sentiment descended upon broader markets amid uneven corporate earnings and lingering questions over how the Federal Reserve will react. De

Cenkos: Oil & Gas Sector -- Kistos, Harbour Energy, Energean, PetroTal Corp, IOG, Block Energy, Jadestone Energy, Coro Energy, Borders and Southern, Genel Energy, United Oil & Gas, ExxonMobil, Santos

Oil rallied to the highest since mid-November, capping off its second straight week of gains on optimism over increased demand from China. West Texas Intermediate rose to settle above $81 a barrel, posting a 1.8% weekly gain. Bolstering crude this week were forecasts for record consumption in China, a buying spree from the country's largest oil trader and increased crude imports ahead of the Lunar New Year. The end of China's Covid-Zero policies has outweighed the concerns about a potentia

Cenkos: Oil & Gas Sector -- Getech Group, Westmount Energy, Serica Energy, Deltic Energy, Longboat Energy, Pharos Energy, Gran Tierra Energy, Echo Energy, Touchstone Exploration, Enwell Energy, Parkmead Group, Molecular Energies, Gulf Marine Services, Hurr

Oil posted its largest gain in three months this week, mostly recouping the prior week's steep decline, as confidence in China's recovery solidified among traders. West Texas Intermediate rallied above $79 a barrel on Friday, capping a more than 8% weekly advance that marked its strongest week since October. China is ramping up purchases of crude after Beijing issued a fresh round of import allowances, and consumption is poised to surge to a record this year following the nation's dismantlin

Cenkos: Oil & Gas Sector -- Ithaca Energy, Angus Energy, United Oil & Gas, Enwell Energy, Zenith Energy, Union Jack Oil, Capricorn Energy, Occidental

Oil posted a large loss the first week of trading in the new year as demand uncertainty continued to hang over the market. West Texas Intermediate settled below $74 a barrel, posting the largest weekly loss in a month, over 8.1%. Saudi Arabia cut prices for crude sold to Asia and Europe in February, signalling concerns over the near-term outlook. Meanwhile, China is battling a surge in virus cases after Covid-19 restrictions were lifted, though mobility is set to rise as the Lunar New Year ho

Cenkos: Oil & Gas Sector -- Chariot, GETECH Group, Argos Resources, Sirius Petroleum, Savannah Energy, Longboat Energy, Helium One Global, Block Energy, Genel Energy, Hartshead Resources, IGas Energy, PetroTal, Tullow Oil, Hunting, Beacon Energy, Orcadian

Fears of a global economic slowdown pushed oil prices lower, outweighing news that the Biden administration will start buying crude to replenish strategic reserves. West Texas Intermediate fell 2.4% to settle around $74 a barrel on Friday. Oil fell in tandem with broader markets as apprehension grows the resolve of central banks to fight against inflation will tip economies into recession. Adding more weight to prices, portions of the Keystone pipeline have resumed flows at reduced pressure,

Auctus on Friday - 16/12/2022

AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LN)C; Target price of £0.55 per share: Agreeing long term offtake gas sales principles is a very important step - Key principles for long term gas sales from the Anchois Gas Project have been agreed with the Office National de l'Electricité et de l'Eau Potable. This will cover sales of up to 60 mmcf/d that will be sold locally on a take or pay basis for a minimum of ten years. The gas will be delivered via the Maghreb Eur

SP Angel Morning Energiser: 12/12/22

UK freeze causes spike in prices

Chariot Limited (AIM: CHAR): Agreeing long term offtake gas sales principles is a very important step

• Key principles for long term gas sales from the Anchois Gas Project have been agreed with the Office National de l'Electricité et de l'Eau Potable. • This will cover sales of up to 60 mmcf/d that will be sold locally on a take or pay basis for a minimum of ten years. The gas will be delivered via the Maghreb-Europe Gas Pipeline. • This is an important step ahead of the signing of a GSA with a very credible counter party. This would also unlock access to debt. The signature of a GSA is expecte

Cenkos: Oil & Gas Sector -- Wentworth Resources, 88 Energy, Chariot, Serica Energy, Savannah Energy, Gran Tierra Energy, Touchstone Exploration, Petro Matad, PetroTal, Pantheon Resources, Valeura Energy, Helium One Global, ExxonMobil

Oil posted the biggest weekly loss since April as low liquidity fuelled big price swings and as restarts for key pipelines alleviated supply concerns. West Texas Intermediate briefly fell below $71 a barrel to the lowest price in a year. The US benchmark — along with Brent crude — has given up all of its gains for the year and slumped 11% this week. Thin trading has exacerbated price fluctuations, with volatility rising again Friday on stronger-than-expected US inflation data. TC Energy C

Auctus on Friday - 09/12/2022

AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LN)C; Target price increased from £0.55 per share: Adding a new renewable power project in Zimbabwe - Chariot continues to execute on its strategy to build a 1 GW (gross) power business. Chariot and Total Eren have announced that the partners will work on a solar photovoltaic (PV) project that will provide competitive electricity for the Karo Platinum Project, in Zimbabwe. The solar project will have an initial installed

Chariot Limited (AIM: CHAR): Adding a new renewable power project in Zimbabwe

• Chariot continues to execute on its strategy to build a 1 GW (gross) power business. Chariot and Total Eren have announced that the partners will work on a solar photovoltaic (PV) project that will provide competitive electricity for the Karo Platinum Project, in Zimbabwe. • The solar project will have an initial installed capacity of 30 MW with a potential extension of up to 300 MW. • The Karo Platinum Mine is in construction and is expected to be in production in 3Q24. • The land for the pow

Cenkos: Chariot Ltd -- Zimbabwe Solar PV Project

Chariot and Total Eren have agreed to work together to develop, finance, construct and operate a solar photovoltaic (PV) project that will provide electricity for the Karo Platinum Project in Zimbabwe. The solar PV project is expected to have an initial installed capacity of 30MWp with a potential extension of up to 300MWp. The project further advances Chariot towards its objective of delivering a 1GW renewable energy pipeline and builds on its existing 485MW of projects in operation or under co

LIBERUM: Sylvania Platinum* - Raising guidance on strong half

Alkaid #2 test - follow-on potential project economics

Forecast update

Diversified Energy will report a FY22 update in February and ahead of this we update our estimates for the lower gas price while also highlighting that the group's unique operating model substantially protects it from lower gas prices and higher interest rates, thereby ensuring it remains well placed to pay one of the highest dividend yields in the FTSE350.

Arrow Exploration Corp. (AIM: AXL): High 3Q22 production in Colombia and US$4 mm free cashflow

• 3Q23 production of 1,503 boe/d was above our expectation of 1,262 boe/d on higher production at Rio Cravo (860 bbbl/d) and Ombu (215 bbl/d). This suggests a continued strong performance of the RCE-2 well. • Corporate production in November has ranged between 1,900-2,000 boe/d with current net production of 887 bbl/d at Rio Cravo (up from 760 bbl/d on 01 November). While the RCS-1 well is still cleaning up, the newly perforated C-7A zone is already adding 165 bbl/d net (330 bbl/d gross) produc

This Week's AIM Highlights 20th January 2023

i3 Energy - Valuation Update

We are adjusting our fair value estimate for i3 Energy to align our commodity price estimates with weaker actual pricing than we had anticipated. We are lowering our 2023 WTI estimate to $84/b from $99/b and lowering our 2023 benchmark US gas price estimate to $5.50/mmbtu from $6.50/mmbtu. We have also updated our model to reflect the capex and production guidance provided by the company on 22 December 2022. Our updated 2023 cash flow from operations estimate amounts to $US109.6M, which equa

IOG (IOG LN) - Trading update

IOG has released a trading update. This reports that operations at the Southwark A2 development well continue, with new plans to isolate three of the six stimulated zones, reperforate two other zones and then flow test the well again. IOG reported last week a disappointing 4.2mmcf/d maximum gross flow rate achieved at A2, and we would hope to see a much higher number, perhaps over 20mmcf/d based on original expectations, once the remediations are in place. The experience on A2 is also being used

Q1 2023 Operational Update

Tharisa has released its production report for Q1 2023 today. The quarter has been impacted by unprecedented rainfall at the Tharisa mine. However, the company was able to minimise the impact on production through the use of their stockpiles to maintain plant throughput. PGM and Chrome concentrate production reduced by 6% and 8% QoQ respectively. Gross and net cash have increased by 49% and 29% respectively, in part due to the successful bond raise of US$31.8m and the continued strong free cash

Tungsten West: Revised plan to optimise Hemerdon for higher energy prices & other costs

Tungsten West (“TUN”) has published an updated Bankable Feasibility Study (“BFS”) post its re-optimisation of the Hemerdon project in light of higher energy prices and other key input costs. The revised plan reduces capex by ~£20m and cuts energy intensity, trading this off against slightly reduced tungsten output and lower payabilities. The completion of the BFS is a key milestone on the path to securing project financing. Site refurbishment and staff recruitment activities have continued since

Q4 Production Update

Shanta Gold (AIM: SHG), the East Africa-focused gold producer today released a production and operational update for Q4 2022 which was effectively in line with expectations. The Company did just miss its 2022 guidance set 12 months ago (68-76koz) producing 65.2koz but AISC was within the range guided at US$1,270/oz. The CEO, Eric Zurrin, commented that there are numerous initiatives underway for 2023 to optimise production including more open pit mining capacity and an extra underground producti

i3 Energy - Historical evolution of EV/CF multiples in Canadian E&P Sector + Comps

Figure 1 provides the historical EV/CF multiples for selected high-growth peers of i3 Energy operating in Canada. Table 1 provides the EV/CF multiples for our selection of the “best of the best” of Canadian junior E&P stocks, of which i3 Energy is one. We highlight that i) the outlook for the oil price has rarely been so robustly supported into the long-term and ii) the wells being drilled systematically in Canada today are some of the most economic wells being drilled by Canadian E&P companies

Hybridan Small Cap Feast - 25 Jan 23

25 January 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 object

Hybridan Small Cap Feast - 17 Jan 23

17 January 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 object

West Kenya Project Resource Update

Shanta Gold (AIM: SHG), the East Africa-focused gold producer has this morning released an update on the resource at its West Kenya Project (WKP). The total resource at WKP has increased from 1.55Moz to 1.7Moz with more ounces in the indicated category – see fig1. Within this is the Kakamega camp which has 1.3Moz grading 10.6g/t of which 722Koz are now in the indicated category.

SHORE CAPITAL - Ferro-Alloy Resources+ (FAR) - House Stock at 11.3p – Trading update