VSA Daily Flow Test

Columbus Energy Resources (CERP LN) has announced it has reached agreement on the terms of a recommended all-share takeover of the company by Bahamas Petroleum Co plc (BPC LN).

VSA Morning Flow Test

Columbus Energy Resources (CERP LN) has announced the start of Phase 2 of the CO2 Pilot Project in the Trinity Inniss field with its partner (Predator Oil and gas (PRD LN). Following the extension of the IPSC CERP and PRD has now begun to inject further CO2 into the reservoir building up to continuous injection over the coming weeks. The steady build up should correspond to a positive impact on pressure levels and production and CERP indicates the potential for material increases in output.

VSA Morning Flow Test

Following the successful results from Columbus Energy Resources (CERP LN) first well at the Saffron prospect on South West Peninsula of Trinidad, the company has announced it has now submitted a drilling application to the Ministry of Energy and Energy Industries for a second appraisal well (Saffron 2). The well will be drilled as a twin to the first well and will use the same drill pad. The target of Saffron 2 is to firstly gain a further understanding of the Lower Cruse interval with an extend

VSA Morning Flow Test

Columbus Energy Resources (CERP LN) | Egdon Resources (EDR LN)

AUCTUS ON FRIDAY

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

Oil & Gas Daily Flow

88 Energy (88E LN): XCD Energy takeover progresses | Columbus Energy Resources (CERP LN): Saffron 1 yields transformational result

VSA Morning Flow Test

Columbus Energy Resources (CERP LN) has provided a detailed update on the successful well result and subsequent flow testing which has taken place recently in the South West Peninsula (SWP). CERP has confirmed that it has made successful discoveries in the Lower and Middle Cruse, the former being the primary target of the well, with six intervals of interest within a broad interval of 2,363ft (720m) accounting for 47% of the interval.

Oil & Gas Daily Flow

Huricane Energy (HUR LN): Watercut increases, production at Lancaster remains at 20,000bopd | JKX Oil & Gas* (JKX LN): 1Q20 operational update shows 11% yoy increase in production | Union Jack Oil* (UJO LN): Works continue at PEDL 183, in line with government regulations | Echo Energy (ECHO LN): Further cost cutting and focus on high margin gas | Regal Petroleum (RPT LN): Production up 5% yoy, operations continue unaffected | Columbus Energy Resources (CERP LN): Deeps cuts to G&A, Saffron testin

VSA Morning Flow Test

In light of the recent events Columbus Energy Resources (CERP LN) has announced that it has taken commensurate measures with a focus on cash preservation. There are two fundamental aspects to the approaches taken; direct cost cutting and payment in shares in lieu of cash where possible. With a cash balance of US$2.56m the company has a modest cushion, however, this package of measures will help to ensure that stakeholders and shareholders are able to benefit when a recovery takes hold.

Oil & Gas Daily Flow

RockRose Energy (RRE LN): FY19 results underline year of significant growth | Columbus Energy Resources (CERP LN): Goudron IPSC extended to June 2020

VSA Morning Flow Test

Columbus Energy Resources (CERP LN) has announced that an additional extension from April 3 to June 30 2020 on the term of the Goudron Incremental Production Agreement Service Contract (IPSC) has been agreed.

VSA Morning Flow Test

Columbus Energy Resources’ (CERP LN), joint venture partner, Predator Oil & Gas Limited (PRD LN) has provided an update regarding the Inniss-Trinity CO2 pilot project. CO2 injection into AT-5X is progressing, as part of the second phase of the pilot project with early results indicating downhole pressure build up, which is positive for future extraction. As part of this second phase of injection, PRD is currently looking towards continuous injection of CO2 whilst working under the revised corona

VSA Morning Flow Test

Columbus Energy Resources (CERP LN) has announced that it has agreed a short extension to the term of the Goudron Incremental Production Agreement Service Contract (IPSC). The contract had been due to expire on 31 March 2020 however the agreement with the state-owned Heritage Petroleum Company Limited is extended until 3 April 2020 to provide further time to complete the formal agreement for a longer-term extension.

VSA Morning Flow Test

Columbus Energy Resources (CERP LN) has announced that flow testing of the Lower Cruse is underway with results expected in due course. Furthermore, at the last update logging of the Middle Cruse was still underway, however, now that it has been completed the company believe that it presents a valid commercial secondary target to the Lower Cruse and could produce at commercial rates. This is very positive, in our view, providing CERP with a clear development option for the initial commercialisat

Oil & Gas Daily Flow

Diversified Gas & Oil (DGOC LN): Trading update, production up 5.7% qoq | Jersey Oil & Gas (JOG LN): Acquisition of an additional 70% working interest in Licence P2170 from Equinor UK | Block Energy (BLOE LN): WR-38Z flows at over 550boepd, Republic of Georgia | Lekoil (LEK LN): Update on Otakikpo Operations | Volga Gas* (VGAS LN): Revision to resource base, production guidance maintained | Columbus Energy Resources (CERP LN): IPSC extended

Trinity Exploration and Production - Reserves Reduction but Solid Core Business

Trinity has announced a c28% reduction to its 2P reserves following a YE23 review. Despite the decrease in the Company’s 2P reserves, Trinity’s core business remains robust, with a reserves/production ratio of >12.5 years at YE23. Whilst there is significant potential for growth within the current portfolio, this will be difficult to unlock from the current balance sheet and we believe further financing will be required. We update our target price to 76p (from 202p), a c85% premium to the curren

Alien Metals - Hancock Project, Mining Lease Granted

Alien today reports intraday that the Western Australian Government has granted a mining licence for the Hancock iron ore project for a 21-year term. The granting of the mining licence is the latest milestone delivered by Alien as it advances the project towards development and production.

SP Angel Morning View: Copper prices hit $9,700/t as China smelts concentrates for zero charge Tc/Rc

SP Angel Morning View: Gold resilient as US interest rates climb on long-term inflation concerns

NextSource Materials - Initiation

NextSource is uniquely positioned to build a leading vertically integrated position, ex China, in the supply of Lithium-ion battery anode material which is essential for the Energy Transition. The company is commissioning phase 1 of its world-class Molo graphite mine in Madagascar and is in the final permitting process for its first Battery Anode Facility (BAF) to be located in Mauritius. The company is backed by Vision Blue, established by Sir Mick Davis, former CEO of Xstrata. On our calculat

I3 Energy (I3E LN) - Canada royalty assets sale

I3 has announced the sale of the majority of its royalty interests in Canada, for US$24.8m cash. This allows the company to fully repay amounts drawn on its debt facility and create a working capital surplus, giving I3 significant additional funding flexibility going forward

Jubilee Metals - Operational Update Q3 FY2024

Jubilee today reports its Q3 and third quarter operational results from its expanding operations in Zambia (copper) and South Africa (chrome and PGM). South Africa is on a growth trajectory with record chrome production of 409kt in the quarter (Q2 FY2024 381kt) and a monthly record in March of 145kt and production YTD of 1.13Mt (0.94Mt). Jubilee is well underway to its annual target capacity of 2,1Mt/yr especially with the new 300kt/yr chrome plant at Thutse expected to be operational in August

DEC FY23 Results Update

DEC reported FY23 results which were in line with expectations and announced the acquisition of joint venture assets from Oaktree along with an updated capital allocation framework.

LIBERUM: New Energy Nuggets: Hydrogen - the future is green

Zeus Top Picks for 2024 - 2023 review and outlook for 2024

On 9 January last year, we set out our ten top stock picks for 2023, for what turned out to be another relatively poor twelve months for UK equities due to two wars, stubbornly high inflation and further tightening of monetary policy. This was even as other major markets, such as the US, largely recovered in the year. In the 2023 calendar year, the AIM All-Share index fell 8.2% and is still 42% off its 2021 high. From the release of our 2023 top picks note, the average total return (assuming div

Gulf Marine Services (GMS LN) - Contract award

GMS has announced a new contract award, at improved day rates, adding to order book and overall revenue momentum.

i3 Energy - RBL Facility Refinances Trafigura Amortising Facility & Year-end Reserves Update

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

Serinus Energy+ (SENX, House Stock at 3p) - FY23A results

The time has come!

In the next six months, Aminex (AEX) will embark on a development programme that will see the company become a producer and free cash flow (FCF) generator. Between drilling the new Chikumbi-1 well (CH-1), re-entering the existing two wells, processing of the new 3D seismic, signing a GSA, and reaching first gas, there will be plenty of milestones in 2023 to, in our view, gradually “guide” the market towards recognising a full value for the targeted initial 60mmscf/d gross production in late 2023

Is there a “big-picture” change in the cards?

We note that this morning’s announcement by Aminex for a significant potential resource increase in the Ruvuma basin. We believe that the recent pullback in the share price (likely due to delays in the first gas production schedule) provide a good risk/reward opportunity, especially given the future potential in next 12-24 months, highlighted by today’s announcement.