SP Angel Morning Energiser: 29/11/22

Oil whipsaws from 2022 lows on improved sentiment

WH Ireland: Jersey Oil & Gas (JOG) - Licence Extension and Farmout Update

Jersey Oil & Gas announced the extension of the Verbier licence (P2170) to end August 2023, which is now aligned with the company's core Greater Buchan Area licence (P2498).

Morning Note – 29 November 2022

Jersey Oil and Gas* - Verbier licence extension

Verbier licence extension

Jersey Oil and Gas* - Windfall tax update – GBA remains attractive

Windfall tax update – GBA remains attractive

SP Angel Morning Energiser: 22/09/22

UK fracking ban lifted

WH Ireland: Jersey Oil & Gas (JOG) - Interims and Farmout Update

We have an increasingly positive outlook for Jersey Oil & Gas based on the positive message conveyed today in the company's interims combined with the rapidly escalating acute energy crisis. We reiterate our 720p fair value estimate for Jersey Oil & Gas. We emphasise our increased confidence in our long-standing and high-conviction call that Jersey Oil & Gas will successfully secure a farmout (or otherwise secure value) for its 100% held and operated interest in the Greater Buchan Area.

Morning Note – 22 September 2022

Jersey Oil and Gas* - H1 2022 results and farm out update

H1 2022 results and farm out update

Switched On - finnCap Energy quarterly sector note

These are challenging times. The world is struggling to reduce CO2 emissions at the pace required to limit global temperature increases to 1.5°C. The combination of the Ukraine war (stratospheric gas prices), searing summer heat and widespread droughts (higher energy demand for cooling, reduced hydro and nuclear power output) is resulting in more coal being burnt in the US, Europe and China. It has also driven European carbon prices to record levels. Ambitious national climate targets are taking

Jersey Oil & Gas (JOG) - Valuation Uplift

We are increasing our fair value estimate for Jersey Oil & Gas to 720p from 660p to reflect i) a change in our long-term oil price assumption to $100/b (inflated at 1% p.a.) from $75/b (inflated at 1% p.a.) and ii) the economic impact of the newly announced Energy Profits Levy. The 60p increase in our fair value estimate is composed of an increase of 419p related to the increase in our assumed oil price, and a decrease of 359p related to the economic impact of the Energy Profits Levy. Although

Morning Note – 1 June 2022

Jersey Oil & Gas - UK windfall tax should boost GBA farm-out ambitions

The announcement of a UK windfall tax on oil and gas companies hit JOG and other UK upstream players’ shares. However, the new levy is specifically designed to encourage higher investment in the North Sea, which can only be good news for JOG’s GBA development farm-out ambitions.

Jersey Oil and Gas* - UK windfall tax could encourage investment

UK windfall tax could encourage investment

SP Angel Morning Energiser: 28/04/22

Market Update: 28 April 2022

LIBERUM: Sylvania Platinum* - Raising guidance on strong half

Alkaid #2 test - follow-on potential project economics

Chariot Limited (AIM: CHAR): Bringing water desalination capabilities in house is important for the green hydrogen business

• Chariot is acquiring ENEO Water PTE for US$0.5-1.0 mm in Chariot shares. • ENEO utilises an efficient, modular and scalable reverse osmosis technology that can be entirely powered by solar energy to produce desalinated water. ENEO is developing a proof of concept at a windfarm on the Red Sea in Djibouti that is under construction and is intended to provide local communities with access to potable water for the next 20 years. The capex of the project is very small (a few hundred thousand US dol

Forecast update

Diversified Energy will report a FY22 update in February and ahead of this we update our estimates for the lower gas price while also highlighting that the group's unique operating model substantially protects it from lower gas prices and higher interest rates, thereby ensuring it remains well placed to pay one of the highest dividend yields in the FTSE350.

SHORE CAPITAL - SAVANNAH ENERGY+ (SAVE, Suspended, Under Review) - Sylvie Rucar appointed as independent NED

Cadence Minerals - Developing Amapá iron ore mine and strategic new technology metal interests

Cadence has secured a 30% stake in the Amapá iron ore mine, Brazil, for $9.3m, a project valued by Anglo American in 2012 at over $600m. With established infrastructure, Amapá is a company-making opportunity. Cadence has recently published a PFS on Amapá, which highlights the obvious value in the project. With equity interests in European Metals Holdings (Cinovec lithium-tin project in Czech Republic), Hastings Technology Metals (Yangibana REE project in Australia) and Evergreen (lithi

FY22 Trading Update

Diversified Energy has released a positive FY22 Trading Update and we increase our EBITDA forecasts by +3% in FY22 and 2023.

Record production achieved in trying circumstances

Higher production at Vanchem coupled with another stable year at Vametco saw Bushveld deliver record annual vanadium production in 2022, though the adverse impact of electricity load shedding on the ramp up of Vanchem meant that the full-year total narrowly missed the group’s target. We still anticipate a return to positive EBITDA for 2022 and further earnings growth this year as Vanchem continues to gather pace. However, evidence of positive progress on load-shedding mitigation measures at Vanc

Arrow Exploration Corp. (AIM: AXL): High 3Q22 production in Colombia and US$4 mm free cashflow

• 3Q23 production of 1,503 boe/d was above our expectation of 1,262 boe/d on higher production at Rio Cravo (860 bbbl/d) and Ombu (215 bbl/d). This suggests a continued strong performance of the RCE-2 well. • Corporate production in November has ranged between 1,900-2,000 boe/d with current net production of 887 bbl/d at Rio Cravo (up from 760 bbl/d on 01 November). While the RCS-1 well is still cleaning up, the newly perforated C-7A zone is already adding 165 bbl/d net (330 bbl/d gross) produc

This Week's AIM Highlights 20th January 2023

LIBERUM: Atlantic Lithium* - Latest resources in-line; valuation upped to 57p on higher throughput

IOG (IOG LN) - Trading update

IOG has released a trading update. This reports that operations at the Southwark A2 development well continue, with new plans to isolate three of the six stimulated zones, reperforate two other zones and then flow test the well again. IOG reported last week a disappointing 4.2mmcf/d maximum gross flow rate achieved at A2, and we would hope to see a much higher number, perhaps over 20mmcf/d based on original expectations, once the remediations are in place. The experience on A2 is also being used

Enhancing Ewoyaa: to extend or expand?

Q1 2023 Operational Update

Tharisa has released its production report for Q1 2023 today. The quarter has been impacted by unprecedented rainfall at the Tharisa mine. However, the company was able to minimise the impact on production through the use of their stockpiles to maintain plant throughput. PGM and Chrome concentrate production reduced by 6% and 8% QoQ respectively. Gross and net cash have increased by 49% and 29% respectively, in part due to the successful bond raise of US$31.8m and the continued strong free cash

Tungsten West: Revised plan to optimise Hemerdon for higher energy prices & other costs - amended note

Tungsten West (“TUN”) has published an updated Bankable Feasibility Study (“BFS”) post its re-optimisation of the Hemerdon project in light of higher energy prices and other key input costs. The revised plan reduces capex by ~£20m and cuts energy intensity, trading this off against slightly reduced tungsten output and lower payabilities. The completion of the BFS is a key milestone on the path to securing project financing. Site refurbishment and staff recruitment activities have continued since