Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on CLUFF NATURAL RESOURCES PLC. We currently have 16 research reports from 2 professional analysts.
|15Feb17 08:30||RNS||Holding(s) in Company|
|13Feb17 07:00||RNS||Expiry of Option|
|16Jan17 07:00||RNS||Pre-close Update|
|19Dec16 07:00||RNS||Board Appointment and Change of Adviser|
|01Dec16 07:00||RNS||Significant P50 Resource increase at Licence P2252|
|24Nov16 13:15||RNS||Result of General Meeting|
|04Nov16 17:15||RNS||Results of Placing and Subscription to Raise £1.8M|
Frequency of research reports
Research reports on
CLUFF NATURAL RESOURCES PLC
CLUFF NATURAL RESOURCES PLC
Small Cap Breakfast
01 Dec 16
Big Sofa Technologies— Schedule 1 from the b2b technology company providing video analytics at an enterprise level. Seeking to complete RTO of unlisted HubCo investments. Raising £6.1m. Target date 19 December. ECSC—Schedule 1 from provider of cyber security services. Raising £5m. Vendor sale £0.8m. Target date 14 Dec. Expected market cap £15m. RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m Creo Medical Group - UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA.
Panmure Morning Note 30-09-2016
30 Sep 16
CLNR has received approval to complete the ownership equalisation in contiguous licences P2253 and P2258 announced in June. The company is flagging unrisked P50 gross prospective resources of 303bcf on three leads in these licences. The Competent Persons Report (CPR) on licence P2248, which CLNR has previously indicated could have some 3tcf of unrisked P50 prospective resource, is now expected to be released around mid-October. Given the strongly positive share price reaction to the P2248 resource announcement and the lack of basis for forming a firm view on value, we are putting our Target Price and recommendation under review pending release of the CPR.
FY15 results, reduction to target price
11 May 16
CLNR reported a loss for the year of £1.9m (FY14 loss of £1.7m), including a £0.3m impairment charge on its Underground Coal Gasification (UCG) assets. Cash and net cash ended the year at £1.1m and CLNR has since raised a further £0.7m. CLNR confirmed its full focus is now on developing its UK North Sea oil and gas business, although it will retain its UK UCG licence position. Nicholas Berry and Brian FitzGerald will not be standing for re-election to the Board. We reset our target price to 2p per share (8p) to reflect this new strategy and the current asset portfolio but retain our Buy recommendation.
Panmure Morning Note 10-05-2016
10 May 16
CLNR has now converted the previously announced HoT with Verus into a firm SPA. That will allow it to acquire up to 25% participating interests in three Parkmead operated licences in the Central North Sea and Moray Firth in a staged transaction. CLNR quotes potential gross recoverable oil of 400mmbbl across the licences. CLNR expects the Skerryvore and Fynn prospects to be drilled within the next 24 months. Within our Parkmead valuation, we are carrying a risked US$5.5m of value for Skerryvore which would equate to US$4.5m net to CLNR, assuming the transaction completes in full.
Panmure Morning note 26-03-2016
26 Apr 16
The AGM approved the second tranche of the placing announced on 6 April, completing the £727k equity raise. A further 43.3m shares are to be admitted to trading bringing the resulting shares in issue to 257.4m. The proceeds are expected to fund the company through to the end of 2016 and will be used to carry out further technical work on CLNR’s Southern North Sea licences as well as for the application for additional licences in the UK’s 29th licencing round. We reinstate our target price at 8p per share, after allowing for the dilution, and retain our Buy rating.
Small Cap Breakfast
16 Feb 17
Saffron Energy—Schedule One update. Raising £2.5m, expected Mkt Cap £7.7m. Admission due 24 Feb. Italian Oil & Gas Play Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb. Arix Bioscience — Intention to float on the main market from the global healthcare and life science Company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management
13 Feb 17
Surface Transforms* (SCE): H1 results confirm operational progress (CORP) | Premaitha Health* (NIPT): European diagnostics partnership (CORP) | Lok'nStore* (LOK): Filling existing stores, developing new ones (CORP) | Victoria* (VCP): Entry into the European flooring market (CORP) | eg solutions* (EGS): Exceptional H2 performance (CORP)
Share & share alike
14 Feb 17
The rally in the last fortnight, highlighted in the table, reflects a continued flow of positive updates and economic news. The FTSE 250, Small cap and Fledgling indices have reached record highs. We are in the lull ahead of results for those companies with a December year end, a welter of economic data regarding the UK economy, the State of the Union address in the US on 28 February and the UK Budget on Wednesday 8 March. We will learn at that stage the latest forecasts from the Office of Budget Responsibility. As highlighted previously, the reaction to corporate updates will continue to set the tone.
Small Cap Breakfast
15 Feb 17
Xafinity –Publication of prospectus. The pensions actuarial, consulting and administration business has conditionally raised £179.6m. At 139p. Due to join main market 16 Feb. Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb. Arix Bioscience — Intention to float on the main market from the global healthcare and life science company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management
A growth and value opportunity
14 Feb 17
Shares in TMT are some 20% off their year highs and trading at an 11% discount to the last reported NAV of $1.91/share as at 30 June 2016. News flow since then suggests continued positive performance of the portfolio, with the most significant reported value event being the recent revaluation of Pipedrive accretive to NAV per share by circa 14.7c. TMT invests in high growth private companies and as such valuation events are relatively infrequent for its investee companies. Anecdotal evidence from some of TMT’s portfolio suggests that there remains significant value to be unlocked from certain investments, that will not yet meet the criteria for being recognised in the portfolio valuation as at December 2016. We highlight the key news events both reported by TMT, and those relating to its portfolio companies that we have identified since the last audited NAV was published.
1H PBT up 61%; EPS up 68%
20 Feb 17
As we expected CLIG’s 1H17 DPS remained unchanged at 8.0p (1H16: 8.0p). As 1H17 Diluted EPS rose 68%, while PBT rose 61%, the results are ahead of our expectations. After increasing our FY(June)17e PBT forecast 2.8% on 17 January, we maintain our forecasts. Year to date the MSCI emerging market index is up 9.7%. At 946 it is 13.4% above 30 June 2016 of 834, and 6.3% above our forecasts of 890. If markets remain strong, we may need to raise our forecasts. We will review our forecasts in April when CLIG releases its 3Q trading update.