SHORE CAPITAL - Bowleven+ (BLVN, 1p, House Stock) - Interim results

Bowleven (BLVN LN) - H1 FY 2023 results

Bowleven has released its H1 results to the end of December 2023, alongside providing an update on its Etinde development and the progression of Perenco’s acquisition of New Age’s stake in it.

Bowleven - Forecast and valuation update

Forecast and valuation update

Bowleven - Full year 2022 results

Full year 2022 results

SHORE CAPITAL - Bowleven+ (BLVN) - House Stock at 3p

Bowleven - Perenco replaces New Age on Etinde

Perenco replaces New Age on Etinde

SHORE CAPITAL - BOWLEVEN+ (BLVN, 3.6p, House Stock) – Interim results

Bowleven - H1 FY 2022 results

H1 FY 2022 results

SP Angel Oil & Gas Daily Flow: 10/11/21

Market update - 10/11/2021

Bowleven - FY 2021 Results

FY 2021 Results

Recovery rally rolls on in Q1. Outlook for Q2 and beyond?

Bowleven - H1 results to December 2020

H1 results to December 2020

Oil & Gas Daily Flow

Savannah Energy (SAVE LN): FY 2020 performance beats guidance Bowleven (BLVN LN): Formal approval to apply for a new EEA, Cameroon Zephyr Energy (ZPHR LN): State 16-2 core to be analysed, potential for further sidetrack Angus Energy (ANGS LN): Further progress ahead of re-starting Saltfleetby

SP Angel Oil & Gas Daily Flow: 25/01/21

Market roundup 25/01/2021

Bowleven - Full year 2020 results

Full year 2020 results

LIBERUM: Trident Royalties: Mexican standoff

LIBERUM: Sylvania Platinum: Record year for production

PetroTal (PTAL LN) - Paddington would be proud – initiating coverage

PetroTal is a London and Toronto-listed E&P company, holding a 100% interest in the Bretana field, onshore Peru. This delivered production of 19.0mbbl/d in Q2 2023, supporting strong cash flows for the company based on its established oil export routes, onshore cost profile and fiscal terms. On the back of these cash flows and a healthy balance sheet, PetroTal has now established returns to shareholders. As such, the stock offers a strong prospective yield of over 10%, alongside production grow

Independent confirmation of c.1bn barrels liquid hydrocarbons at Kodiak

Chariot Limited (AIM: CHAR): Imminent partner in Morocco

• The US$2.7 mm cash position at the end of June is in line with our expectations. • Although inflation across the industry and rig availability had complicated and delayed the finalization of a farm-in agreement for Anchois in Morocco, negotiations on partnering are in the final stages. A partner could be announced very soon. • Progress has been made across the portfolio. Onshore Morocco, permitting is under way with drilling now expected to start in early 2024 with up to four wells. Prospects

LIBERUM: Trident Royalties*: Utah lithium royalty acquisition

Interim Results

Diversified reported strong interim results, with production that was marginally below our estimate more than outweighed by tight cost control to deliver EBITDA ahead of our forecast; we broadly retain our FY23 estimates.

LIBERUM: Trident Royalties: Benefitting from rising rate environment

Bushveld Minerals: Fully integrated vanadium exposure with potential for operational turnaround & share price rerating

We initiate coverage of Bushveld Minerals (“BMN”) with a price target of GBp9/sh, implying 339% upside to the current price. BMN is a fully integrated vanadium producer that operates mines and plants in South Africa, which we estimate will produce 3,700t of vanadium in 2023E, accounting for >3% of global supply. After operational difficulties, pricing headwinds, and associated balance sheet stress led to a steep de-rating in BMN shares, we expect a rerating to be driven by growing production and

PetroTal (PTAL LN) - Production and operations update

PetroTal has announced production numbers for July and August, maintaining full year guidance, alongside providing an operational update.

Bushveld Minerals: Investment agreed to strengthen balance sheet

Bushveld Minerals (“BMN”) has announced that it has signed a binding term sheet with a South African investment group, Southern Point Resources (“SPR”), that should provide a strengthened balance sheet and greater financial flexibility through cumulative funding of up to US$69.5m-US$77.5m. As part of the funding package, BMN will sell down 50% of its interest in the Vanchem plant and its 64% interest in the Mokopane deposit for a total consideration of US$25m. In our view, this package represent

Jersey Oil & Gas - Interims

Jersey Oil & Gas released its interim results for the period ended 30 June 2023 indicating that it had a period-end cash position of £5.6M, with no debt. The company stated that further cash receipts amounting to $9.4M will be due on completion of the FPSO acquisition agreement and $12.5M on Buchan FDP approval (from NEO Energy, pursuant to the farm-out agreement).

Interim results: solid performance amid challenging macro

The quality of CAML’s asset base came to the fore yet again in H1 2023 as the group maintained an impressively wide EBITDA margin despite the twin challenges of weaker base-metal prices and inflationary pressures on costs. The robust financial performance enabled CAML to declare a 9p interim dividend, maintaining its position amongst the top yielders in the junior mining sector. Capex requirements should reduce materially from next year as the project to transition to more flexible and sustainab

IOG (IOG LN) - Operational update

Blythe H2 well production update. IOG has released an operational update. This reports that gross production from the Blythe H2 well declined from 27.7mmcf/d to 21.2mmcf/d over the course of August, from an initial stabilised rate of 32mmcf/d in early July, with an average rate of 17.8mmcf/d gross achieved over August due to a planned one-week shutdown of the Bacton terminal.

Introduction of Vanchem partner alleviates pressure