SP Angel Morning Energiser: 26/01/23

US nat gas falls below $3

Molecular Energies - Operations and strategic update

MEN’s update highlights continued operational profitability in Argentina ahead of a planned work programme of well workovers and new drilling this year aimed at boosting production from its two Argentine operating regions. Exploration is also set to make a return this year, with high impact wells expected in Paraguay in H1 and Argentina in H2. Nevertheless, the Argentine upstream environment remains challenging, and MEN is seeking to transition towards green/alternative energy, replicating the s

SP Angel Morning Energiser: 09/01/23

Crude up on China reopening

SP Angel Morning Energiser: 05/01/23

Energy prices find support at lower levels

Morning Note – 5 January 2023

SP Angel Morning Energiser: 7/12/22

Crude prices sink lower

Morning Note – 7 December 2022

Molecular Energies - 9M Argentina financial results

Molecular Energies has provided 9M22 highlights for Argentina that show stronger financial performance in Q3. The production disruptions at Rio Negro and Louisiana have been resolved, domestic oil prices are improving and an update on the drilling rig for next year’s Paraguay exploration well is expected this month.

SP Angel Morning Energiser: 14/11/22

UK ponders Energy Levy expansion

SP Angel Morning Energiser: 20/10/22

No consensus ahead of EU summit

SP Angel Morning Energiser: 5/10/22

API reports US oil draws

Auctus on Friday - 30/09/2022

AUCTUS PUBLICATIONS ________________________________________ Challenger Energy (CEG LN): Discontinuing coverage - We are discontinuing coverage on Challenger Energy Group. Longboat Energy (LBE LN)C; Target price of £1.50 per share: 3-5 well programme in 2023. Increased resources estimate at Kveikje – There were no surprises in the 1H22 financials. The gross contingent resources estimates at Kveikje have been increased from 28-48 mmboe to 35-60 mmboe (2C-3C) based on a new CPR following post wel

SP Angel Morning Energiser: 27/09/22

Leaks detected on Nord Stream pipelines

Morning Note – 27 September 2022

President Energy - Interim results

It was a challenging first half operationally for President, with production declining sharply due to outages in Argentina and Louisiana. The financial results held up well, but the operational challenges have persisted into H2. Output is expected to resume in October, but our production estimates are too high and we have placed our forecasts under review. The Argentine business environment remains challenging, and President is looking to pivot away from the country and towards green/alternative

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

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

FY22 Trading Update

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

This Week's AIM Highlights 20th January 2023

i3 Energy - Valuation Update

We are adjusting our fair value estimate for i3 Energy to align our commodity price estimates with weaker actual pricing than we had anticipated. We are lowering our 2023 WTI estimate to $84/b from $99/b and lowering our 2023 benchmark US gas price estimate to $5.50/mmbtu from $6.50/mmbtu. We have also updated our model to reflect the capex and production guidance provided by the company on 22 December 2022. Our updated 2023 cash flow from operations estimate amounts to $US109.6M, which equa

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

i3 Energy - Historical evolution of EV/CF multiples in Canadian E&P Sector + Comps

Figure 1 provides the historical EV/CF multiples for selected high-growth peers of i3 Energy operating in Canada. Table 1 provides the EV/CF multiples for our selection of the “best of the best” of Canadian junior E&P stocks, of which i3 Energy is one. We highlight that i) the outlook for the oil price has rarely been so robustly supported into the long-term and ii) the wells being drilled systematically in Canada today are some of the most economic wells being drilled by Canadian E&P companies