SP Angel Morning Energiser: 23/12/22

A year of high prices, energy insecurity and transition

Indus Gas* - H1 FY 2023 results

H1 FY 2023 results

Hybridan Small Cap Feast 03/10/22

Joiners: No leavers today. Leavers: No leavers today. What’s cooking in the IPO kitchen?** Milton Capital Plc, a new type of special purpose acquisition company, intends to join the Standard Segment of the Main Market. The directors intend to search initially for acquisition opportunities in the technology sector. The focus for the prospective acquisition is megatrends. This includes sectors such as space, artificial intelligence, machine learning and blockchain technology. Ticker upon admission

SP Angel Morning Energiser: 29/09/22

Crude strengthens on stock draws

Indus Gas* - Full year 2022 results

Full year 2022 results

Auctus on Friday - 19/08/2022

AUCTUS PUBLICATIONS ________________________________________ SDX Energy (SDX LN)C; Target of £0.22 per share: 2Q22 in line. Growing production at West Gharib – 2Q22 production and net cash at the end of June had already been reported. Development drilling at West Gharib and South Disouq has delivered good results with six out of nine wells, four at West Gharib and two at South Disouq, drilled during 2022 now in production. At West Gharib, each well encountered 56-137 ft of net pay with good rese

SP Angel Morning Energiser: 18/08/22

Crude bounces on 7mb US crude draw

Indus Gas* - Gas price update

Gas price update

Indus Gas* - H1 FY 2022 results

H1 FY 2022 results

Indus Gas* - FY 2021 results

FY 2021 results

Indus Gas* - H1 2021 results

H1 2021 results

Indus Gas* - FY2020 Results

Indus has released its FY 2020 results to the end of March. These report revenues of US$58.0m compared with our US$60.6m forecast. EBITDA was then US$55.5m, marginally ahead of our US$55.1m forecast. The already-gained approval of the wider RJ-ON/6 development plan, incorporating SSG and SSF, and the ongoing progression of discussions for the new pipeline connection, are positive developments for Indus.

Indus Gas*

H1 FY20 Results

FY 2019 results

Indus has released its FY19 results, which are mildly ahead (~4%) of our forecasts at the EBITDA level, showing strong operational cash flows and good progress on the key pipeline. We make a number of changes to our forecasts (outlined on pg. 2) and reiterate our Buy recommendation.

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

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

Hybridan Small Cap Feast - 21 Feb 23

21 February 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 objec

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

IOG (IOG LN) - Full year 2022 results

Numbers partly already released in January. IOG has released its full year 2022 results. In January the company announced gross average production from first gas in March to the end of 2022 of 27.4mmcf/d, end 2022 gross cash of £32.4m (including £5.7m restricted), 2022 revenue before sales deductions of £79.6m, cash OPEX of 13.9p/therm, and cash CAPEX of £61.2m.

i3 Energy Update to Fair Value Estimate

We are updating our fair value estimate to reflect more conservative oil and gas price assumptions. We have lowered our 2023 WTI oil price estimate to $74.05/b from $83.10/b, to align our estimates with market dynamics. We have lowered our US benchmark (Henry Hub) natural gas price for 2023 to $3.02/mmbtu from $3.36/mmbtu, which reflects the most recent price forecast made by US EIA Short Term Energy Outlook. As a result, we are lowering our fair value estimate for i3 Energy to 26.2p from 31.6p

SHORE CAPITAL - TOUCHSTONE EXPLORATION+ (TXP, 61p, House Stock) - FY22A results exceed our forecasts; Cascadura remains on track versus prior guidance

PetroTal Corp (AIM: PTAL): Production back at 20 mbbl/d. Regular payments from Petroperu

• Production was constrained in January and February, with average production of ~7,600 bbl/d and 8,000 bbl/d respectively, due to restricted barging capacity over these two months. • The barging fleet schedules have now been re-established with an increased capacity of 1.5 mmbbl (1.2 mmbbl in 2022) and PetroTal’s production has been averaging 20 mbbl/d since the last week of February. • Given the constrained production rates over January and February, the company now expects 1Q23 production t

FY22 - Focus on the next 6 months' operations

LIBERUM: Caledonia Mining* - £8.7m raised to accelerate work at Bilboes, Motapa and Maligreen projects

LIBERUM: Atlantic Lithium* - Systematic study of value-enhancing opportunities; DFS on-track for Q2’CY23

LIBERUM: Atlantic Lithium* - Exploration for concealed pegmatite could add significant value