Trinity Exploration & Production, Diversified Energy Company, Getech Group, Kistos, Phoenix Global Resources, Union Jack Oil, Rockhopper Exploration, Sound Energy, Siccar Point Energy, SDX Energy, Nostrum Oil & Gas, Pantheon Resources, Gran Tierra Energy, Hurricane Energy, Wintershall DEA
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Pantheon Resources announced that its best estimate of the oil in place in respect of the Theta West field, which it recently penetrated with the Talitha #A, well is 12.1 billion barrels of oil. The company announced that its best estimate of the success-case recoverable resource potential for the field amounts to 1.41 billion barrels of oil. The oil in place estimate is comprised of 11.0 billion barrels of oil from the Lower Theta West system and 1.10 billion barrels of oil from the Upper Theta
Companies: Pantheon Resources plc
Pantheon has announced that it has concluded operations at the Talitha #A Well. Although, the parameters and estimates in respect of the horizons penetrated by the Talitha #A well can be expected to change materially as the well results are interpreted, for now we are comfortable with our 88.9p/sh pre-drill fair value estimate. We believe that positive volumetric analysis of the Talitha #A well in respect of the Basin Floor Fan and the Shelf Margin Deltaic will be determinant for near-term chang
Pantheon Resources indicated that the Talitha #A well is flaring gas from the Kuparuk section as the well cleans up.
Key operational data: That gas is being flared is highly encouraging. This is an early indicator that the well's completion operations have been effective. It is also absolutely necessary for these wells to have a high gas content because it is the expansion of gas that will provide energy that will push the oil up the wellbore to the surface. It also critical that the gas has
Pantheon Resources has this morning announced interim results to 31 December 2020, at which time it had cash of $29.8M .
Most importantly, the company has indicated that the Kuparuk formation being drilled by the Talitha #A well is over-pressured and that light oil has been recovered from the drilling mud.
Cornerstone FS to join AIM, an SME focused, cloud-based provider of international payment, currency risk management and electronic account services focused on removing the complexity of international payments for customers. Raising £2.2m. Mkt Cap £12.3m. Due 18 Mar. Imperial X (AQSE:IMPP) to join the Main Market (standard). It is also proposed that on Admission to the Official List, the Company will change its name to Cloudbreak Discovery Plc. With effect from Admission, Imperial X will hold
Companies: PANR UKOG BIOM OBD EMAN DRUM PHD CHAR QTX WYN
Market Update - 23/03/2021
Companies: Pantheon Resources plc (PANR:LON)UK Oil & Gas PLC (UKOG:LON)
Pantheon Resources announced that it intends to sidetrack the Talitha#A well to redrill 1,200 feet of new hole. The operations are expected to take 15 to 18 days.
Market update - 02/03/2021
Companies: 88E CHAR HUR PANR
Pantheon Resources has this morning announced that the better than expected well-logs from the Kuparuk formation warranted a change in plan for the testing of that formation, namely, from an open hole test to a more rigorous cased hole test (with a 4 ½ inch liner). However, due to equipment failures and technical issues, the formation started to become damaged in its current location and as such it was not possible to set the casing string (4 ½ inch liner). Accordingly, the company has made the
Bahamas Petroleum Company (BPC LN)C: Target price of 1.90p: Looking beyond the Bahamas - The Perseverance #1 well encountered oil, validating the structural model and the petroleum system, but did not encounter oil in commercial quantities. While the drilling results were disappointing for the B North prospect, the company believes that the presence of (1) oil in good reservoirs and (2) a good seal derisk the B South prospect and the C structure and could improve the profile
Companies: BPC DNO ENI FAR FEC GPRK PEN PANR TAL REP RDSA SNM
The Talitha #A well has successfully reached target depth at 10,452 feet. The well has been logged and sidewall cores have been taken. The preliminary analysis is encouraging albeit the company cautions that production testing will be required to prove commerciality. The company indicated its plan is to production test the Shelf Margin Deltaic, Basin Floor Fan (two separate zones) and the Kuparuk zones. We retain our 89p fair value estimate.
Oil edged lower on Friday alongside a broader market decline as the recovery in consumption remains uncertain.
The dip capped a third straight week with New York futures stuck near $52 a barrel. US equities weakened amid lingering concerns
over volatile retail trading. While Johnson & Johnson's Covid-19 vaccine breakthrough allayed some worries about the deterioration
of consumption, it is clear the demand environment remains tepid. Chevron Corp posted a fourth-quarter loss after weak fuel
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SP Angel Oil & Gas Daily Flow: 27/01/21
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Research Tree provides access to ongoing research coverage, media content and regulatory news on Pantheon Resources plc.
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EQTEC have just announced that financial close has been reached on the planned recommissioning of the 1MW EQTEC Italia MDC plant. EQTEC technology is being used to recommission the plant which will use straw and forestry wood waste to create energy.
Companies: EQTEC PLC
i3 Energy announced that it is increasing its next-twelve-month net operating income guidance to $US44M (pro forma acquisitions and associated recompletions/drilling). Net of our estimated G&A expenditure of $US8.0M (£5.7M) that equates to an adjusted cash flow from operations estimate of $US36.0M (adjusted to nullify the effects of debt). That compares to our prior estimated adjusted cash flow from operations estimate of $US29.6M. The increase reflects operational activity, namely, the drilling
Companies: i3 Energy Plc
With drilling due to commence soon and recent reports of a US$450-500/t MOP price we feel it is worth having a more in depth look at South Harz Potash. The Company owns three perpetual mining licenses and two exploration licences covering 659km2 and results from over 300 exploration holes drilled by the former East German state potash mining company in the South Harz potash basin in central Germany. South Harz's European-based management is now focussed on developing Western Europe's largest pot
Companies: South Harz Potash Ltd
As midsummer’s day looms (where has this year gone?), there is greater optimism, in general, than may have been anticipated a few months ago. A post-pandemic, ‘vaccine-driven’ recovery demonstrated by increased consumer spending as lockdown measures are lifted has been one of the catalysts. The FTSE 100 has been range-bound in the last month 6,900-7,100. We have seen a combination of broadly positive company results across a range of sectors, further examples of M&A activity and a sequence of ne
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Trifast reported FY21 results slightly ahead of consensus with industrial activity recovering above pre-COVID levels. The group seems well set on a strong medium term growth trajectory, backed by its Multinational OEM strategy and with potential for consensus earnings upgrades through the current year. Reiterate buy.
Companies: Trifast plc
Bluejay Mining* (JAY LN) – Chinese ilmenite prices continue to rise
Bushveld Minerals* (BMN LN) – Vanadium prices continue to rise in China to ~$37.7/kgV
Keliber – Environmental challenges rejected by Finnish Court
Zinnwald Lithium (ZNWD LN) – Acquisition of additional exploration licences in Saxony
Companies: JAY BMN ZNWD
KEFI Gold and Copper* (KEFI LN) – Progress report on Tulu Kapi and Saudi Arabian project
Panther Metals (PALM LN) – Exploration target for laterite nickel cobalt mineralisation at Coglia
Sunstone Metals (STM AU) – Reports over 500m of copper gold mineralisation in recent drilling at Brama
Companies: KEFI PALM STM
Falcon Oil & Gas has announced the commencement of the Company's 2021 work programme, starting with the resumption of clean-up operations at the Kyalla 117 well. The planned 2021 work programme will include multiple workstreams across three different plays in the Beetaloo, providing a near constant stream of news flow for investors. In addition to Falcon's comprehensive 2021 work programme, activity is expected to increase significantly across the rest of the Beetaloo, with the drilling of up to
Companies: Falcon Oil & Gas Ltd.
Full-year results were in line with expectations. Cost controls contained the reduction in profits, with adjusted EBIT margin down 150bps to 6.4%, while a focus on cash resulted in cash conversion of 148%. With net cash of £13.3m, the group is in a strong position to step up its acquisition strategy in a fragmented market. Some short-term cost and supply chain issues have previously been flagged, which affect short-term margins, but should be recouped. No change to forecasts or our 187p price ta
Lancaster production approval
Companies: Hurricane Energy Plc
Challenger Energy (CEG LN)C; Target of 12p per share: Drilling update in Trinidad - The Saffron well penetrated various Middle Cruse zones including hydrocarbons zones as prognosed pre-drill, and with drilling rates and impact on surrounding clays and mobile shales improved significantly from Saffron-1 owing to the use of synthetic-based muds and a solid foundation for drilling design in any future field development. Initial petrophysi
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The digital brand protection and online threat hunting solutions specialist has announced its full year results the year ended 31 December 2020 (FY20A), confirming annualised recurring revenue (ARR) growth of 71% to $3.3m at year end and continued strong growth in the first half of 2021, with the May ARR figure standing at $3.8m, a 93% increase relative to May 2020. ARR is the key metric for assessing SaaS (Software as a Service) companies, and BrandShield’s swift progress to date confirms it is
Companies: BrandShield Systems plc
The Calabar power station, which accounts for the majority of Savannah’s Nigerian gas sales, has entered a new power supply agreement with the Republic of Togo, with more in discussion, raising the prospect of meaningful increases in Savannah’s gas supplies to the plant. These additional volumes will come at negligible additional cost, leveraging the bottom-line impact. The recently signed Mulak Energy gas sales agreement demonstrates this, boosting our 2022 earnings by 8% and our risked-NAV and
Companies: Savannah Energy Plc
• Gas demand in Tanzania continues to be very high with YTD production averaging 80.3 mmcf/d, well above last year (58.1 mmcf/d). While gas demand is normally low during 2Q (because of hydro), we estimate 2Q21 production at ~75 mmcf/d.
• As a result, Wentworth is increasing its production guidance for 2021 from 65-75 mmcf/d to 75-80 mmcf/d.
• At the end of May, Wentworth held US$21.5 mm in cash and no debt. This is close to our expectations of US$21.4 mm at the end of June. This also implies th
Companies: Wentworth Resources PLC