Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on Aminex. We currently have 28 research reports from 2 professional analysts.
Union Jack Oil* (UJO) and Reabold Resources (RBD) – Updated Volumetrics at West Newton | Baron Oil* (BOIL) – Update on Chuditch PSC, offshore Timor-Leste | Aminex (AEX): Ruvuma Joint Statement with Solo Oil
Companies: UJO BOIL AEX
Parex Resources (PXT CN); BUY, C$33.00: 3Q19 results, 2020 guidance roll-out reveals better than anticipated FCF | Chevron (CVX US) (not covered): Exiting Malampaya | Union Jack Oil (UJO LN) (not covered) & Reabold Resources (RBD LN): Upgraded volume estimate in the UK | Genel Energy (GENL LN); Speculative Buy, £3.20: Somaliland farm-out process | Aminex (AEX LN) (not covered) & Solo Oil (SOLO LN): 2020 capex budget in Tanzania
Companies: PXT CVX UJO RBD GENL AEX SOLO
Aminex (AEX) – Interim results underline quiet period for the company | Victoria Oil & Gas (VOG): Logbaba field gross production rate increased by 190% | Block Energy (BLOE): Fully-funded multi-well work programme | i3 Energy (I3E) - Interim Results, two high impact wells on the horizon | Savannah Petroleum (SAVP) - Interim Results, Seven Energy transaction nearing completion | San Leon Energy (SLE) - Interim Results, downtime concerns | President Energy (PPC) - Interim Results, revenues up 6% | UK Oil & Gas (UKOG) - HH-2/2z Drilling Commences at Horse Hill Oil Field
Companies: AEX VOG BLOE I3E SAVP SLE PPC UKOG
Hurricane Energy (HUR) – Warwick West spuds today | RockRose Energy (RRE) – Strong financial results, 60p interim dividend proposed | Serica Energy (SQZ): Half Year Report, material cash flows in 2020 | Aminex (AEX): Ruvuma Farm-Out Update and Acceleration of Drilling Operations
Companies: HUR RRE SQZ AEX
Aminex (AEX)/Solo Oil & Gas (SOLO): Ruvuma Farm-out
Aminex (AEX): Board Change | Independent Oil & Gas (IOG): Appointment of NED | Victoria Oil & Gas (VOG): FY 2018 results
Companies: AEX IOG VOG
Interoil Exploration and Production (IOX NO) (not covered): Acquisition in Argentina | Range Resources (RRL LN/RRS AU) (not covered): Results for the quarter ended 31 March 2019 (3Q FY19) | Angus Energy (ANGS LN) (not covered): Equity raise | BP (BP LN) (not covered): 1Q19 results | Equinor (EQNR NO) (not covered): Dry hole in Norway | Repsol (REP SM) (not covered): 1Q19 results | Nostrum Oil & Gas (NOG LN); Speculative Buy, £2.20: 1Q19 update | Regal Petroleum (RPT LN) (not covered): FY18 results | Genel Energy (GENL LN); Speculative Buy, £3.20: 12 months left to reach an agreement on Bina Bawi? | Aminex (AEX LN) (not covered): Final results | Anglo African Oil & Gas (AAOG LN) (not covered): Tilapia oil field update | Global petroleum (GBP LN)1: Speculative Buy, £0.04; March 2019 quarterly report | MX Oil (MXO LN) (not covered): Updated CPR in Nigeria | Seplat Petroleum (SEPL LN); BUY, £2.80: 1Q19 results
Companies: IOX RRL ANGS BP/ REP NOG RPT GENL AEX AAOG GBP MXO SEPL
Ophir Energy (OPHR LN); HOLD, £0.55: Increased final offer from Medco | Energean Oil & Gas (ENOG LN) (not covered): FY18 results | EnQuest (ENQ LN); HOLD, £0.25: FY18 results | Serinus Energy (SENX LN)1 ; Speculative Buy, £0.25: 4Q18 results | Aminex (AEX LN)1 (not covered): Farm-out update in Tanzania | Nigeria to sell down stake in JV to 40% | Maurel & Prom (MAU FP): FY18 results
Companies: OPHR ENOG ENQ SEN AEX MAU
Aminex (AEX LN) (not covered): Kiliwani work programme acceleration in Tanzania & capital raise | Impact Oil & Gas: Farm-in in Namibia | Lekoil (LEK LN) (not covered): OPL 310 update in Nigeria | Maurel & Prom (MAU FP) (not covered): Activity and sales 2018
Companies: AEX LEK MAU
Amerisur Resources (AMER LN) (not covered): Discovery in Colombia | Global Petroleum (GBP LN); SPECULATIVE BUY, £0.05: Wins in further appeals against environmental decrees in Italy | Aminex (AEX LN) (not covered): Kiliwani update in Tanzania | ExxonMobil (XOM US) (not covered) to sell interest in Mozambique
Companies: AMER GBP AEX XOM
Equinor (EQNR NO) (not covered) & Eni (ENI IM) (not covered): Norwegian Sea increased volumes | Marathon Oil: North Sea sale planned | OMV (OMV AG) (not covered) & Gazprom: Basic Sale Agreement signed in Russia | Aminex (AEX LN) (not covered): Increased interests in Tanzania
Companies: ENI OMV AEX
Cabot Energy (CAB LN)1 ; Speculative Buy, £0.10: 1H18 results | Jadestone Energy (JSE LC/CN): BUY, £0.80; Montara acquisition completion | Equinor (EQNR NO) (not covered): Looking to acquire stake in Rosebank in the UK? | Serica Energy (SQZ LN) (not covered): 1H18 results | Cadogan Petroleum (CAD LN) (not covered): Operational update in the Ukraine | Caspian Sunrise (CASP LN) (not covered): 1H18 results | Volga Gas (VGAS LN) (not covered): 1H18 results | Aminex (AEX LN) (not covered): 1H18 results | Savannah Petroleum (SAVP LN) (not covered): 1H18 update in Niger and Nigeria | LEKOIL (LEK LN) (not covered): 1H18 results | Getech (GTC LN) (not covered): 1H18 results
Companies: GTC LEK SAVP AEX VGAS CASP CAD SQZ JSE CAB
EnQuest (ENQ LN): Speculative Buy, £0.70; Kraken FPSO settlement agreement offshore UK | Aminex (AEX LN) (not covered) & Solo Oil (SOLO LN) (not covered): Kiliwani North in Tanzania
Companies: ENQ AEX SOLO
Ophir Energy (OPHR LN); HOLD, £0.60: 1H18 trading update | Premier Oil (PMO LN); BUY, £1.80: 1H18 trading update | Aminex (AEX LN) (not covered): Transformational Ruvuma farm-out in Tanzania
Companies: OPHR PMO AEX
88 Energy (88E LN) (not covered): Proposed placing of up to A$17 mm | Diversified Gas & Oil (DGOC LN) (not covered): FY17 results | Echo Energy (ECHO LN) (not covered): Operational update in Argentina | Phoenix Global Resources (PGR LN) (not covered): Increased interests in Vaca Muerta in Argentina | Premier Oil (PMO LN); BUY, £1.30: Divestment of interests in Babbage | Statoil (STL NO) (not covered): Sells non-core asset on UK Continental Shelf | Nostrum Oil & Gas (NOG LN)6 ; BUY, £4.50: 1Q18 trading update | Chariot Oil & Gas (CHAR LN) (not covered): Operational update in Morocco | OMV (OMV AG) (not covered): New offshore concession agreement in Abu Dhabi | Aminex (AEX LN) (not covered): Preliminary results for 2017 | Seplat Petroleum (SEPL LN); BUY, £2.30: 1Q18 results and dividend re-instatement
Companies: 88E DGOC ECHO PGR PMO EQNR NOG CHAR OMV AEX SEPL
Research Tree provides access to ongoing research coverage, media content and regulatory news on Aminex. We currently have 28 research reports from 2 professional analysts.
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Sylvania's share price has fallen 53% since its peaked on the 21st Feb, as the global economy hit the brakes. The short term demand outlook for PGMs is miserable, with supply chains breaking down as both luxury goods and car sales sales collapse.
Companies: Sylvania Platinum
Oil posted a record weekly jump on hopes that global producers will decide to make historic output cuts next week, though optimism was tempered by concern that the curbs will not avert a glut. The OPEC+ coalition including Saudi Arabia will hold a meeting of its members by video conference on Monday, with the gathering open to even producers outside the group. While it's unclear who will attend, market watchers are predicting that stockpiles are likely to swell even if global supplies are cut by 10 million barrels a day. Investors will be closely watching the guest list of the meeting -- especially names outside the Organisation of Petroleum Exporting Countries and its allies -- after Saudi Arabia made clear it will only cut production if others, including the US, shoulder some of the burden. US West Texas Intermediate futures ended the week up 32%, while Brent crude jumped 37%. Still, prices are less than half the levels at the start of the year, with the coronavirus crisis crushing demand. One delegate from the producer group said a global cut of 10 million barrels a day is a realistic goal. Russian President Vladimir Putin told the country's top oil executives that producing countries should join together to slash output to reverse the collapse in prices, adding that worldwide curbs of a little above or below 10 million barrels a day are possible. Meanwhile, US President Donald Trump is convening an extraordinary gathering of the nation's biggest refiners and producers at the White House on Friday. They are expected to discuss possible relief efforts from the administration, including potential American output cuts. Prices: West Texas Intermediate for May delivery rose $3.02 to settle at $28.34 a barrel Friday. Global benchmark Brent crude for June settlement jumped 14% to $34.11 a barrel. Gasoline futures rose 2.88 cents to 69.16 cents a gallon Friday. Getting countries from all over the world to agree would be a tough task. Even if that's successful, an output reduction of the size that's being discussed will be just a fraction of the 35 million barrels of daily demand destruction some traders now see
Companies: FOG PVR 88E DGOC EME UKOG TRIN UOG
Shearwater sells resilience and today's trading update shows us how resilient demand has been for its products and services. The Group has swung to EBITDA profitability and cash flow is well ahead of expectations. The macro themes of cyber security and remote working are supportive of robust demand levels going forward. We are maintaining our forecasts. Buy.
Companies: Shearwater Group
Despite the severe effect of Covid-19 in the United States, normal operations continue for Diversified Gas & Oil (DGO), with little or no impact as a result of the virus. DGO's low decline production, low operating costs and proactive hedging programme, mitigate the impact of the low commodity prices, locking in cash flows and protecting the dividend. With rigs, capital and companies abandoning US oil shale, production is expected to plateau in May 2020 before declining. The decline in US oil shale production will also translate into lower associated gas production. Whilst existing stockpiles may be large enough to prevent a rally in gas prices this year, it sets the stage for a tighter market in 2021 as gas production continues to fall as demand rebounds. Whilst many of its North American and London listed peers have reduced, suspended or cancelled their dividend, DGO remains committed to maintaining its dividend to its shareholders. We reiterate our BUY recommendation and our 148p/share price target.
Companies: Diversified Gas & Oil
SolGold have successfully converted the Alpala resource into the Measured Resource category and at the same time, added another 1.6 Mt of copper, 2.5Moz of gold and 92.2 Moz of silver. This third resource update cements the scale and the viability of the operation, as well as increasing the value of the contained metal by 19% to $95bn.
Central Asia Metals (CAML LN) having previously announced strong operating performance for 2019 released strong earnings results leaving the company well placed to cope with current pricing weakness and global uncertainty. Revenue of US$171.7m was down 3%, largely due to weaker commodity prices YoY. The weaker top line led to EBITDA of US$108.6m, down 15% YoY, however, margins were broadly maintained at 60% due to CAML’s low cost base. Net finance costs were down 27% as CAML continued to deleverage ending the year with net debt of US$80.2m implying a trailing net debt/EBITDA of 0.74x. EPS from continuing operations was consequently down 6.3% YoY while capex of US$12.1m, down 24% YoY, meant that levered free cash flow of US$69.8m was down just 5% YoY.
Companies: Central Asia Metals
Caledonia today announces that it has taken the prudent decision to defer its approval for the payment of the second quarterly dividend (7.5c/sh - $0.9m - 7% of declared Caledonia cash). The Blanket mine in Zimbabwe remains in operation (at a slightly reduced capacity to secure Covid-19 social distancing) and the mine site remains well-stocked with supplies, so despite the current difficulties getting supplies from South Africa production at the mine can continue for some time to come; 2-3 months in our opinion, if the supply chain from South Africa ceased altogether. Touchstar is a supplier of mobile data computing solutions and managed services to a variety of industrial sectors. This morning, the group has released an update in light of COVID-19. The Board reports that it has taken swift action to re-engineer processes to adhere to government guidelines, whilst maintaining client service levels. Q1 2020 trading is reported to have been ‘broadly' in line, with revenue growth of 40% from continuing operations and outstanding orders to ship to customers in the coming months. Q1 was cash neutral, which follows on from the RNS on 5 February, of a net cash position of £849k as at 31 December 2019.
Companies: Caledonia Mining Corporation Plc Com Shs Npv Touchstar
We are reinstating coverage with a Buy rating and price target of 50p following the recent £15m share placing to fund production scale-up for micro-batteries. Our TP reflects a DCF of the micro-battery business which has sufficient customer interest to achieve over £12m annual sales by FY23 and £25m later this decade we believe, generating EBITDA of £1.7m and £7m respectively.
The Charlie-1 appraisal well has encountered movable condensate gas within the Torok formation in both the Middle Stellar and Lower Stellar targets, with the Company successfully recovering hydrocarbons to surface from both targets. The presence of movable condensate gas probably raises more questions than answers, with BP's Malguk-1 well, drilled in 1991, confirming oil in the Stellar targets. A potential explanation for this result could be facies change within the Torok, but we believe this would be highly unlikely, with Charlie-1 drilled proximal to the Malguk-1 well. Alternatively, we know that Malguk-1 ran into operational difficulties, which may have resulted in the data being compromised, raising further questions as to data validity. Whatever the reason, further analysis is required to determine if the discovery can be commercialised. We maintain our target price and valuation until the results of the Charlie-1 well are better understood.
Companies: 88 Energy
Much of the UK’s privatisation programme took place between the early 1980s and the mid-1990s: subsequent sales have been few. Undoubtedly, privatisation attracted many private investors to the market, many for the first time.
Companies: AVO AGY ARBB ARIX BUR CLIG DNL FLTA GDR NSF PCA PIN PXC PHP RE/ RECI RMDL STX SCE SIXH TRX SHED VTA
PowerHouse has signed an option for an exclusivity agreement for the UK with Peel Environmental. This potentially makes Peel the lead developer of DMG waste-to-energy projects, both on its own extensive land bank and on sites belonging to councils and waste management companies and other industrial partners across the UK. The agreement provides a mechanism for PowerHouse to monetise its IP through licensing and means PowerHouse will not need to raise finance for individual projects.
Companies: Powerhouse Energy Group
Oil declined for a fifth straight week amid a one-two punch from collapsing demand due to the coronavirus crisis and ballooning supply from producers vying for market share. Futures in New York slumped 4.8% on Friday and are poised for the biggest quarterly drop on record as weak demand and an onslaught of supply roil markets. Refineries across the globe are curbing consumption as fuel use declines with people staying home. Meanwhile, major trader Trafigura Group expects as much as 1 billion barrels to be sent into storage tanks. More oil is headed into stockpiles as the Russia-Saudi war for market share that exacerbated crude's crash this month shows no sign of abating. The kingdom held firm on Friday, saying it hasn't had any contacts with Moscow about output cuts or on enlarging the OPEC+ alliance of producers. Russia also doubled down, with Deputy Energy Minister Pavel Sorokin saying oil at $25 a barrel is unpleasant, but not a catastrophe for Moscow. US crude has tumbled about 65% so far this quarter. The crash has crippled domestic producers who are forced to cut production for the first time in 35 years. The International Energy Agency this week warned that global demand was in “free fall” amid coronavirus lockdowns. Meanwhile, Iraq -- OPEC's second-biggest producer -- will allow national oil companies to boost their output and export without imposing any ceiling. Algeria has asked for an emergency OPEC board meeting to discuss the cuts. It comes as one of the world's largest supertanker owners said that ships are being filled with crude at a record pace, as land storage rapidly diminishes. Prices: West Texas Intermediate fell $1.09 to settle at $21.51 a barrel in New York on Friday. Prices dropped 4.1% this week. Brent crude lost $1.41 to settle at $24.93 a barrel. Swaps markets show that physical crude is selling several dollars below benchmark prices. The signs of storage starting to fill are growing, too. Inland tanks for heating oil in Germany are now full, while Pakistan banned oil imports on Thursday because its stockpiles are now sufficiently built up. Rigzone.
Companies: FOG PVR 88E DGOC EME POS TRIN UOG
Falcon Oil & Gas has announced it has farmed down a 7.5% interest in the Beetaloo Sub-basin to Origin Energy, with Origin increasing the gross cost cap of the Stage 2 and Stage 3 Beetaloo work programme by A$150.5m (cUS$92m) to A$263.8m (cUS$161m). As a result of the farm-down, we believe Falcon is now substantially funded for Stage 2 and Stage 3 work programme, eliminating equity and dilution risk for shareholders. Perhaps more importantly, Falcon is also fully funded through one of the greatest periods of uncertainty in the history of the oil and gas industry.
Companies: Falcon Oil & Gas