Market update - 31/08/2021
Companies: EOG SOU UJO MSMN REXI
Eco has released its financial results for the 3m to 30 June 2021, with disciplined cost control delivering a strong balance sheet. As of 30 August, Eco had cash of US$7.2mm (including US$0.5mm restricted deposit) and no debt following the close of its US$10mm investment into JHI in June and its US$4.9mm raise through a private placement in July. Eco’s cash burn rate remains low as a result of low exploration spending, G&A and compensation costs. Eco together with its strategic partner and subst
Companies: Eco (Atlantic) Oil & Gas Ltd.
Eco announced yesterday that the Jabillo-1 well in the Canje Block, offshore Guyana, reached its planned target depth and was evaluated but did not show evidence of commercial hydrocarbons. Eco recently acquired a 6.4% interest in JHI with the option to increase its stake to 10% on a fully diluted basis. JHI holds a 17.5% working interest in the Canje Block and was fully carried on the Jabillo-1 well. The well was drilled to test Upper Cretaceous reservoirs in a stratigraphic trap on the block,
Market update - 05/07/2021
Companies: EOG CEG ZPHR
Oil posted its sixth straight weekly gain, the longest winning streak since December, as the standoff between OPEC+ ministers over output dragged on at the alliance's full meeting on Friday. Futures in New York rose 1.7% this week. Most members of the alliance backed a proposal to increase supply and extend the deal into later next year, but United Arab Emirates remains opposed, according to delegates. The ongoing dispute leaves open the possibility of a supply deficit in the global oil market o
Companies: COP COP EOG SEN AOI 88E ADME AEX CASP ENOG GTC HTG LAM I3E PFC SLE SDX UKOG VOG ZOL CVN EQNR EQNR
Market update - 28/06/2021
Companies: EOG LOGP I3E SDX ZPHR MSMN REXI
Eco has subscribed for 5mm new shares in JHI priced at US$2/sh, plus has been issued warrants for 9.2mm shares at a price of US$2/sh. The new shares represent 6.4% of JHI's enlarged basic shares and if the warrants are fully exercised Eco will hold an interest, ceteris paribus, of 10% in JHI on a fully diluted basis. The deal provides near term exposure to high impact exploration but also creates a strategic partnership and the opportunity for future collaboration between the companies, which bo
Market update - 17/06/2021
Companies: EOG HUR I3E
Market update - 15/03/21
Companies: Eco (Atlantic) Oil & Gas Ltd. (EOG:TSX)Union Jack Oil Plc (UJO:LON)
Upcoming OPEC meeting likely to result in unwinding of production cuts
Companies: Eco (Atlantic) Oil & Gas Ltd. (EOG:TSX)Enwell Energy plc (ENW:LON)
Oil edged lower on Friday alongside a broader market decline as the recovery in consumption remains uncertain.
The dip capped a third straight week with New York futures stuck near $52 a barrel. US equities weakened amid lingering concerns
over volatile retail trading. While Johnson & Johnson's Covid-19 vaccine breakthrough allayed some worries about the deterioration
of consumption, it is clear the demand environment remains tepid. Chevron Corp posted a fourth-quarter loss after weak fuel
Companies: CVX EOG HES GTE 88E ADV DEC GTC JOG NOG PANR RBD SAVE SDX TLW VOG LUNE
Mosman Oil & Gas*, BUY, (MSMN LN): Initiation of Coverage | Global Petroleum (GBP LN): Significant upgrade in Prospective Resources, offshore Namibia | Eco (Atlantic) Oil & Gas*, STRONG BUY, (ECO LN): Eco diversifies into European renewables | SDX Energy (SDX LN): Slight curtailment in production guidance, comfortable liquidity position | Premier Oil (PMO LN): Successful farm out of the Tuna PSC, Indonesia
Companies: MSMN GBP EOG SDX HBR
Research Tree provides access to ongoing research coverage, media content and regulatory news on Eco (Atlantic) Oil & Gas Ltd..
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Companies: Sylvania Platinum Ltd.
Phoenix copper today provides an update on its ground geophysical survey over the Red Star prospect near its Empire copper project in Idaho. The Red Star skarn mineralisation (lead and silver ± copper, zinc) is associated with magnetite; the survey just undertaken was to better understand the distribution and orientation of magnetite to find potential mineralisation and to inform the location and direction of a further drilling programme.
Companies: Phoenix Copper Ltd. (United Kingdom)
Settling in shares the majority of the remaining US11.5m of convertible loan notes from the Vanchem acquisition is a positive outcome at a critical juncture in Bushveld’s evolution. The renegotiated terms allow the group to lower its debt whilst preserving precious cash resources for its more value-adding production growth initiatives. Bushveld’s recent Q3 update indicates that both Vametco and Vanchem are well on course to achieve their respective full-year production and cost targets if the qu
Companies: Bushveld Minerals Limited
We see the UK Government’s Net Zero Strategy as being overall helpful but not especially definitive. Amongst our coverage group, Drax Group (DRX LN) and Velocys (VLS LN) benefit from the Humberside CCS cluster prioritisation and Velocys from SAF support. The amount of renewables is likely to boost the need for flexibility solutions where Drax, Gore Street (GSF LN) and SIMEC Atlantis (SAE LN) can benefit. Hydrogen companies ITM (ITM LN) and Powerhouse Energy (PHE LN) are likely to find support. T
Companies: ADN DRX GSF ITM NESF PHE SAE SIT STRLNG TLG VLS
Companies: Shanta Gold Limited
Oil posted the longest stretch of weekly advances since 2015 as OPEC+ producers only modestly supply the market and as US crude supplies shrink.
Crude futures rose 1.5% Friday in New York, up for a ninth straight week. President Joe Biden said Thursday night that Americans should expect high gasoline prices to continue into next year because of supply being withheld by OPEC and other foreign oil producers. Stockpiles at the biggest US storage hub are draining to levels last seen when crude pr
Companies: FO 88E DEC EME GTC TRIN UOG WEN
We are initiating coverage of VAST Resources (VAST), which has wholly-owned Baita Plai and Manaila polymetallic mines plus an interest in two exploration projects, all located in Romania. At this stage, Baita Plai is the main driver for our valuation as it is currently being ramped up to 14kt per month. As such, we expect Baita Plai’s Cu eq output to reach c 2.4ktpa in FY23F followed by 3.3ktpa in FY24F. This, coupled with Manaila’s potential re-start of an additional 3ktpa of Cu eq over the sho
Companies: Vast Resources plc
Today’s IPO of Tungsten West (TUN-LON) unlocks a valuable, long term revenue stream for Hargreaves. This comprises a £1m per annum fee (first payment next month) as well as a mining services contract once the mine recommences production. The resulting EPS upgrades are 6% and 7% in FY22 and FY23 respectively, followed by 9% in FY24 with the first partial contribution from the mining services contract. This continues Hargreaves’ impressive recent run of forecast upgrades and reinforces our convict
Companies: Hargreaves Services plc
Companies: Union Jack Oil Plc
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Devolver Digital to join AIM, an award-winning digital video games publisher and developer in the indie games space. Recently awarded indie 'Publisher of the Year 2021' by GamesIndustry.biz. Offer TBA. Due early Nov.
Life Science REIT to join AIM raising up to £100m. This will be the first London listed real estate investment trust (REIT) focused on UK life science properties providing investors with exposure
Companies: SYS1 ARE SO4 SNG TMG TMT OHG IDE KIBO MRL
Shanta Gold (AIM: SHG) has, this morning, announced its production and operational results for the quarter ended 30th September 2021 – see Fig 1. Operationally this was a slightly weaker than expected quarter but very promising from the corporate side with a new five-year plan announced, an 0.10cps interim dividend announced and a resource update at the West Kenya Project (WKP).
QoQ production was flat at 14,194 oz and AISC rose to $1,480/oz caused by a temporary drop in grade as well as hig
Trifast has released a good interim trading update ahead of its interim results due on 23 November. Overall trading has been in line with management expectations at “both revenue and profit levels” since the AGM update in July although this belies the strength of the Group's top line performance in our view. We remain buyers.
Companies: Trifast plc
Rio’s investors day was focused on two of the most critical mining industry thematics in today’s times, i.e. green and growth. The announced measures couldn’t have materialised at a better time, given the (recent) woes pertaining to governance and the iron ore market sell-off. Remember, considering Rio’s enviable balance sheet strength, it has the flexibility to pursue the targeted plans with rigorously and, at the same time, maintain ‘relative’ shareholder reward attractiveness. Hence, we reite
Companies: Rio Tinto plc
Tungsten West (TUN.L) has joined AIM. Tungsten West is the 100% owner and operator of the historical Hemerdon tungsten and tin mine located near Plymouth in southern Devon. Hemerdon represents the world's third largest tungsten mineral resource, with a JORC (2012) compliant Mineral Resource Estimate of approximately 325Mt at 0.12 WO3. Capital raised on Admission: £39m. Anticipated Mkt Cap: £106.2m.
Future Metals NL (ASX:FME, FME.L) (formerly named Red Emperor Resources NL) had joined AIM
Companies: SOLI RBD ALU ATQT BBI CWR DRV ORCP WATR
i3 Energy indicated that Q3 2021 production amounted to 13,740 boe/d (WHIe: 13,742 boe/d) and that production in September amounted to 18,985 boe/d (WHIe: 18,834 boe/d). The company indicated that it now forecasts net operating income (“NOI” = revenue minus royalties, opex, transportation and processing) to be $US 65.7m for 2021 and $US 119.1m for the next twelve months starting 1 October 2021 – in line with our assessment that i3 Energy is on the cusp of generating more than $US 100m of cash fl
Companies: i3 Energy Plc