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EU gas storage nearing normal levels
Companies: IOG UJO REXI
Companies: IOG PLC
Forecast and valuation update
Imperial Helium (IHC CN)C; Under review: Merger with Royal Helium to build a material player with discovered resources and huge upside - Imperial Helium is merging with Royal Helium with Imperial Helium shareholders set to hold ~30% of the combined entity. The share exchange ratio suggests a 10% premium to the Imperial Helium share price on the day prior to the announcement. Shareholders will vote on the transaction in June with completion expected in the 2nd half of June. Management, insiders a
Companies: XOM XOM TRIN SHEL RBD OEX NOG MATD ALV ALV IOG GTE FEC EQNR EQNR ENOG BP/ IHC PEN PEN SDX EGY
Focus on EU resolve
Companies: IOG SDX SOU TRIN
Companies: IOG PLC (IOG:LON)Eneraqua Technologies PLC (ETP:LON)
Market Update: 13 April 2022
Companies: IOG UJO MSMN
IOG has reported that the Blythe well remains shut in while it continues to investigate the chemical injection fault that was discovered last week. While frustrating, importantly this is a mechanical not a reservoir problem, and production from the Elgood well has not been impacted. We are leaving our estimates and price target unchanged at this point as we believe we have enough flex between our FY22 gross gas production assumptions (Blythe 30 mmcfd, Elgood 20 mmcfd) and gas price forecast (200
Arrow Exploration (AXL LN)C; Target price of £0.30 per share: The Independent NPV estimate of the YE21 2P reserves represents ~2x the current EV – The YE21 1P, 2P and 3P reserves have increased (compared to YE20) by respectively 4.1% to 3 mmboe, 5.5% to 7.4 mmboe and 10.1% to 11.5 mmboe. The after tax NPV10 of the 1P reserves stands at ~US$25 mm in line with the current EV of the company. The after tax NPV10 of the 2P reserves has been
Companies: XOM XOM IOG TETY TETY TXP TCFF TCF SAVE AXL CE1 XOP CHAR ENI ENI VLE 88E GPRK GPRK
Market Update: 29 March 2022
Companies: IOG SAVE UJO
Companies: Elixirr International Plc (ELIX:LON)IOG PLC (IOG:LON)
Research Tree provides access to ongoing research coverage, media content and regulatory news on IOG PLC.
We currently have 409 research reports from 8
Companies: Sylvania Platinum Ltd.
Arc has recently signed an agreement with Anglo American (LSE:AAL, Market Cap $45bn) on a JV for its highly prospective Zambian licences (subject to final due diligence). The deal sees (3) main staged payments of up to $74m in the ground and $14.5m to Arc (by end of stage 1) and significantly leaving Arc with a 30% stake in the project. On a detailed reflection over the deal we want to reiterate how positive we see this is for Arc: i) Arc could never have raised this sort of capital to bring exp
Companies: ARC Minerals Limited
Jubilee today provides an operational update on the ongoing commissioning at the new Inyoni chrome and PGM plants with Jubilee building up to steady state production for nameplate capacity of 1.2Mt chrome concentrate and 44koz PGM production per year. Remember processing chrome creates the upgraded PGM tailings for Jubilee to recover the PGMs (Jubilee being paid a small margin to preconcentrate its own feed) and with the expanded Inyoni there is no need to share the PGM revenues via a JV struct
Companies: Jubilee Metals Group PLC
Last week Tamesis visited a number of Tharisa PLC's assets including the Tharisa Mine and Arxo Metals Beneficiation Site (AMBS) in South Africa and the Karo Platinum Project in Zimbabwe. Overall it was an extremely well received trip with evidence of efficiency improvements at the Tharisa mine, unexpected cash generation from the Vulcan Plant, further cash from the Salene Chrome Plant and, it also impressed on us that the Zimbabwe risk to the build out of Karo is lower than the market perhaps th
Companies: Tharisa Plc
Chariot has conditionally raised gross proceeds of US$25.5m (before costs), providing the Company with sufficient funds to advance the Anchois Gas Development towards a Final Investment Decision (FID) and to progress its renewable power pipeline. The placing was significantly oversubscribed, highlighting the market's confidence in Chariot's business model and its management team. We maintain our price target at 51p, with the recent rise in the European gas price forward curve offsetting the dilu
Companies: Chariot Limited
Pantheon Resources announced that it has contracted a rig (the Nabors 105AC) to the Alkaid #2 well, which the company indicated is scheduled to spud in July 2022. The company indicated that if the well is successful, Pantheon Resources will commence a long-term production test and truck and sell the produced oil to a nearby North Slope facility.
Companies: Pantheon Resources plc
RCE-2 well flow test result
Companies: Arrow Exploration Corp.
A pre-feasibility study for the c10 GW green hydrogen project named “Project Nour” has confirmed that Mauritania is exceptionally well-placed for green hydrogen due its world class solar and wind resources, with the project having the potential to produce some of the cheapest green hydrogen in the world. With up to 10GW of electrolysis installed, Project Nour has the potential to become one of the largest green hydrogen projects globally by 2030. Geographically proximal to the European markets,
Diversified has announced the acquisition of a portfolio of East Texas upstream assets and related facilities from a private seller for US$50m – an attractive 1.4x multiple based on the NTM adjusted EBITDA of US$35m and before any potential synergies. At US$50m, the net purchase price approximates a >PV40 valuation at the effective date and represents an attractive discount of c51% to the estimated PV10 using the NYMEX strip as of the 19 April 2022. The assets include PDP reserves of 18mmboe (11
Companies: Diversified Energy Company PLC
ARC has announced it has signed a JV agreement with Anglo American (LSE:AAL, Market Cap $45bn) over its Zambian licences. This has long been in the offing and we view the terms as advantageous to Arc and a validation of the prospectivity that it (and we) see in its licences. The headline JV payments are staged but could ultimately lead to Anglo owning 70% of the licences, by investing $74m in exploration and paying Arc $14.5m. The licences will be held under a JV which will have an initial ow
*A corporate client of Hybridan LLP
Dish of the day
EnSilica (ENSI.L), has join AIM. EnSilica provides an end-to-end service for the design and supply of mixed signal ASICs, outsourcing certain elements such as the wafer fabrication of the manufacturing and packaging to third parties - otherwise known as a Fabless Semiconductor Model. ASICs are Integrated Circuits or semiconductor chips developed for a particular use or product rather than for general purpose usage. ASICs help
Companies: YGEN AFRN ALBA ART BLV CCS EPWN FIPP NWT KETL
Companies: Thungela Resources Limited
Dish of the day
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What’s cooking in the IPO kitchen?
Psych Capital PLC, intends to list on the AQSE Growth Market. Psych operates the Psych Platform (a business-to-business networking platform), that is developing the Blossom Database pursuant to a third party licensing arrangement. The Company also has an investment of 426,000 common shares in Awakn, a Canadian NEO Exchange listed psychedelics research and clinical group, with operations in th
Companies: YCA 7DIG BOOM DMTR EYE KIBO NFC RST SPSY
Caledonia Mining Corporation delivers high yield exposure to the gold sector with increasing production from the 64% owned Blanket Gold Mine in Zimbabwe. With an improving political situation, Caledonia offers the in-country experience to capitalise on production backed exploration in a significant under-explored African greenstone belt. We value Caledonia on a base case in the region of $233m or £14.85/share, based on a long-term $1,750/oz gold price and assuming a 12% discount rate. With a foc
Companies: Caledonia Mining Corporation PLC
Cenkos:Oil & Gas Sector - 23 May 2022
Companies: FO 88E CHAR DEC EME GTC TRIN WEN