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AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$1.00 per share: Restarting production at Anshof – The Permanent Production Facility (PPF), with a capacity of 3,000 bbl/d of liquids, has been commissioned and the Anshof-3 well has recommenced production at a rate of 134 bbl/d with no water. The operation has been undertaken in line with expectations and within budget. The oil production rate at Anshof-3 is 16% above the rate prior to shut-in. A
Companies: ENI CVX GPRK OMV ADX REP AKRBP MAHAA OMV JSE PXT TXP TAL PNOR REP CASP CHAR PNOR ENI VAR VLE MAHAA CVX
Auctus Advisors
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$1.00 per share: Very high impact exploration well encounters gas and condensate in Austria – The Welchau well (ADX WI: 75%) encountered 115 m of liquids-rich gas shows in the primary target formation (Steinalm Formation) between 1452 m and 1567 m. The deepest gas shows were encountered at a depth of 1645 m. The well has reached TD at 1733 m. The Steinalm Formation intersection in the well is in l
Companies: XOM TAO ALV ADX IVZ AKRBP GKP ALV TAO TXP TAL DNO UKOG ZPHR ENOG SAVE DEC CHAR TETY AOI CNE XOM TETY DNO
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of £A$0.65 per share: High impact well spud in Austria - The Welchau-1 gas exploration well was spudded on 24 February. Calima Energy (CE1 AU)C; target price of A$0.13 per share: Completing divestment of Blackspur – Blackspur has been sold for A$81.6 mm, after tax provisions and net debt adjustments. Calima will distribute A$80 mm (~A$12.6 per share) as dividends. The distribution is well above the m
Companies: PEN ALV ADX CE1 WDS AKRBP GKP MAHAA AOI ALV PXT MCF TXP MEN RBD I3E UOG KOS AEX BCE BWE HUI HEVI PEN SEPLAT EGY
AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LN)C; target price of £0.50 per share: Receiving EIA approval for onshore drilling in Morocco – Chariot has received approval for its EIA for a total of 20 well at Loukos, onshore Morocco. The approval covers the initial drilling campaign of two exploration wells (Gaufrette and Dartois) as well as 17 further well locations and the re-entry of an existing gas discovery. Operations are expected to start at the end of 1Q24 a
Companies: EQNR OKEA ALV WDS AKRBP ALV TXP DNO BP/ SQZ DELT UKOG BLOE CHAR TETY AOI TTE CNE HE1 EQNR VAR TETY DNO OKEA
Oil up as Israel rejects ceasefire terms
Companies: OKEA AKRBP TXP DNO TRP DNO OKEA
SP Angel
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.65 per share: Drilling rig on location of high impact well by the end of January – A rig is expected to be mobilised to the high impact Welchau-1 drilling location during the last week of January. Drilling is expected to last for 6-8 weeks. The total vertical depth of the well is only 1,800 m with a dry hole cost estimated at ~EUR5.1 mm. Welchau gross prospective resources have been independent
Companies: PEN EQNR ADX KAR WDS IVZ AKRBP TAL BCOW AKERBP TLW BP/ UOG R4Y GENL GTE TTE BWEFF PEN SNM EQNR VAR BCOW
AUCTUS PUBLICATIONS ________________________________________ GeoPark (GPRK US)C; target price of US$24 per share: Further exploration success in Colombia – The Perico-1 exploration well at CPO-5 encountered hydrocarbons in the Barco (Guadalupe) formation. The well is currently producing 650 bbl/d of 14 deg API oil with 8% water cut. This is an important well that confirms the extension of the Llanos-34 Guadalupe play into CPO-5 and is probably derisking further prospects. This is the fifth disco
Companies: TCFF GPRK REP AKRBP MAHAA JSE PXT SOU DNO AKERBP REP ENW EOG HBR PHAR DELT ENOG LBE TETY GPRK TETY VLE DNO MAHAA EGY
AUCTUS PUBLICATIONS ________________________________________ Panoro Energy (PEN NO)C; target price of NOK50 per share: Production update in Gabon – BW Energy reported 3Q23 gross production of 23.2 mbbl/d at Dussafu. This is below our expectations of ~26 mbbl/d due to the period during which production was constrained at two wells due to ESP issues which have now been resolved. Current total Dussafu gross production, with all the Tortue and Hibiscus wells in operation, is ~35,000 bbl/d. Tethys O
Companies: PEN EQNR ENI OKEA CVX HES IVZ REP AKRBP REP TRIN NOG TETY BWE TTE PEN HES ENI EQNR VAR TETY OKEA CVX
AUCTUS PUBLICATIONS ________________________________________ Calima Energy (CE1 AU)C; target price of A$0.45 per share: Operating update in Canada – The 3-well Pisces drilling programme has now been completed. The wells have been drilled under budget. The Pisces#10 well is already in production and the production performance is in line with the Pisces#6 and Pisces#7 wells that delivered production significantly above the typical glauconitic production curve. Peak production at these new wells is
Companies: ENI OKEA ALV GPRK CE1 REP AKRBP MAHAA ALV COPL CEQ SOU AKERBP PNOR REP EOG I3E ZPHR DEC GPRK PNOR TTE ENI VLE OKEA
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.08 per share : Completing farm-out transaction in Austria – The farm-out transaction of Anshof to MND has now completed with an initial payment of EUR1.93 mm. MND has further Anshof development funding obligations of EUR4.683 mm for the drilling, completion and tie-in of the Anshof-2 and Anshof-1 wells as well as payment of further contingent amounts of EUR1.335 mm and EUR3.57 mm (A$ 5.95 milli
Companies: PEN EQNR SEI ADX AKRBP AXL JSE DNO AKERBP SQZ ZPHR LBE CHAR TETY PEN EQNR TETY VLE DNO ORCA
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.10 per share: Securing additional loan to prepare for drilling – ADX is issuing A$1.5 mm of loan notes with a term of 18 months. A$1.0 mm of the loan notes carry an interest rate of 8% per annum with 30 mm options with an exercise price of A$0.01 per share and 30 mm options with an exercise price of A$0.014 per share. The balance of the loan notes carry an interest rate of 12% per annum with 2
Companies: OKEA OMV ADX AKRBP MAHAA OMV AOI DNO PNOR TLW DELT TRIN ZPHR CHAR MATD PRD PNOR GTE VLE DNO OKEA
AUCTUS PUBLICATIONS ________________________________________ Criterium Energy (CEQ CN)C; target price of C$0.55 per share: Financing priced – The C$22 mm offering for the acquisition of Mont D’Or Petroleum has been priced at C$0.20 per subscription receipt. Each subscription receipt will convert into a unit comprising one share and one warrant with an exercise price of C$0.25 per share valid for 36 months. On completion of the acquisition, Criterium will hold 1,050 bbl/d long life and high netba
Companies: OKEA ALV BLOK AKRBP ALV COPL DME CEQ TAL LBE CNE OKEA
US refinery at highest level since 2019
Companies: SAVE RRRP3 AKRBP
AUCTUS PUBLICATIONS ________________________________________ Hartshead Resources (HHR AU)C; target price of A$0.18 per share: On tack for first gas in 2025 – The FDP for Phase I is nearing completion and will be submitted in two weeks. The project continues to be expected to reach first gas in 2025. Panoro Energy (PEN NO)C; target price of NOK50 per share: Executing on plans. Declaring a ~US$3 mm quarterly dividend – 1Q23 production of 6,320 bbl/d had already been reported and net debt of US$25
Companies: PEN HHR AKRBP GKP MAHAA AOI SOU TALO AKERBP TLW PHAR ENQ UKOG TALO TTE CNE PEN
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C: Target price of A$0.100 per share: 1Q23 update – 1Q23 production in Austria was 299 boe/d. The company held A$3.41 mm in cash at the end of March. Criterium Energy (CEQ CN)C: On track for near term acquisition – The FY22 financials were in line with our expectations. The company held C$3.7 mm in cash at YE22. Criterium has also filed the notice of intention to file a short form prospectus. This could be an indica
Companies: PEN ENI OKEA HES OMV ADX HHR REP AKRBP GKP OMV JSE CEQ TAL TXP REP TLW EOG HBR CNE TRIN RBD UKOG NOG SDX UOG CEG SEPL TTE PEN HES ENI OKEA
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