Auctus on Friday - 24/03/2023

AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN) C; Target price of £0.45 per share: Good flow rate at RCE-4 – The RCE-4 well has been put in production. It has produced at a rate of 728 bbl/d (364 bbl/d net to Arrow) of 28.5 API oil with a 1% water cut from the C7-A and C7 Stringer zones over the last 24 hours. This is a similar result as at RCE-3 (24 h flow rate of 968 bbl/d gross/484 bbl/d net). As was the case at RCE-3, the RCE-4 well is also flowing na

SP Angel Morning Energiser: 20/03/23

Energy prices extend losses

SP Angel Morning Energiser: 07/11/22

US cold snap boosts gas prices

SP Angel Morning Energiser: 08/07/22

Kazak oil export pipeline ordered to close

SP Angel Energy: FY22 results & upgraded shale potential (GEEC LN)

Great Eastern Energy Corporation Ltd (GEECL) announced its FY22 preliminary results for the 12 months ended 31 March 2022, together with an updated competent persons report (CPR) on the reserves and resources at its Raniganj (South) licence.

SP Angel Energy: Shale gas exploration to commence (GEEC LN)

Great Eastern Energy Corporation Ltd (GEECL) announced that it has executed an amendment to its Petroleum Mining Lease on the Raniganj (South) block in West Bengal and will now progress with its shale exploration programme.

SP Angel Oil & Gas Daily Flow: 19/01/21

Market update - 19/01/2022

Great Eastern Energy Corporation* (STRONG BUY) - Capitalising on India's growth outlook

GEEC continues to successfully navigate the ramifications of the pandemic and today's interim results further underline the financial and operational resilience of the business in our view. Sales volumes and revenues grew in line with expectations during the first six months of FY22 and investors will be encouraged that the average gas sales prices received remains robust, with profits ahead of forecasts. Encouragingly, operations continue to grow with gas production increasing from a FY average

SP Angel Oil & Gas Daily Flow: 14/07/21

Market update - 14/07/2021

Great Eastern Energy Corporation* - FY21 Results - Poised for significant growth

Whilst GEEC's full year results to 31 March 2021 underline the challenges experienced by the sector as a result of the COVID-19 pandemic, the Company has successfully demonstrated the resilience of its financial position. As expected, sales volumes were adversely impacted, however we believe investors will be encouraged that the average gas sales prices received remain robust, and therefore the Company remains profitable. Currently, operations continue to grow with gas production having increase

Oil & Gas Daily Flow

Great Eastern Energy* (GEEC LN), STRONG BUY: H1 2021 results underline financial resilience | Jadestone Energy (JSE LN): Teikoku dispute settled | Lekoil* (LEK LN): Shell Trading prepayment facility fully repaid

Oil & Gas Daily Flow

Great Eastern Energy Corporation* (GEEC LN): Payment obligations confirmed | Nostra Terra Oil and Gas (NTOG LN): Accretive low risk cash generative acquisition

Oil & Gas Daily Flow

Premier Oil (PMO LN): Trading update, net debt continues to fall | Great Eastern Energy Corporation* (GEEC LN): COVID-19 update highlights robust liquidity position

Oil & Gas Daily Flow

Great Eastern Energy Corporation* (GEEC LN): FY20 results, resistance to volatility | Ascent Resources* (AST LN): Administrative Court rules that EIA is required ahead of well stimulation

Great Eastern Energy Co.

FY 2020 results

LIBERUM: Sylvania Platinum* - 3p interim dividend & new policy

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

LIBERUM: Caledonia Mining* - Model updated

Operations update

Morning Note – 27 March 2023

FY22 - Focus on the next 6 months' operations

Busy operations programme delivers positive results