Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on ANDES ENERGIA PLC. We currently have 6 research reports from 1 professional analysts.
|09Dec16 07:00||RNS||Change of Adviser|
|06Dec16 04:35||RNS||Price Monitoring Extension|
|09Nov16 03:12||RNS||Holding(s) in Company|
|21Oct16 03:23||RNS||Stmnt re Share Price Movement|
|19Sep16 07:01||RNS||Directorate Change|
|19Sep16 07:00||RNS||Half-year Report|
|25Aug16 07:00||RNS||Operational update|
Frequency of research reports
Research reports on
ANDES ENERGIA PLC
ANDES ENERGIA PLC
Solid interim results
19 Sep 16
We reiterate our Buy rating on Andes Energia and 50p target price following a solid set of interim results which demonstrate the progress that it is making with its Chachahuen assets and the growth in EBITDA that these assets deliver. The business environment in Argentina is improving, as are relations with the UK, and this should help Andes potentially start to realise some value from its extensive Vaca Muerta acreage, where it has 250,000 net mineral acres. Andes continues to trade at a steep discount to our core NAV of 24p.
FY15 results highlight operational progress
24 May 16
We reiterate our Buy rating on Andes Energia following 2015 operating and financial results that demonstrate a strong performance in what has been a very weak environment for the oil and gas sector. We expect that strong production growth in Chachahuen will be key in almost trebling EBITDA by 2018, relative to 2015. With investor sentiment toward Argentina improving, we highlight that Andes is trading at a 24% discount to our core NAV of 24.4p which itself attributes no value to its 250,000 net acres in the Vaca Muerta.
Oil & Gas - A turning point for the E&P sector
28 Oct 15
We suggest that, following 4½ years of underperformance, the E&P sector is set for a sharp recovery relative to the market. We think that this will be driven by a dramatic reversal in E&P margins, as a recovery in oil prices coincides with reductions in upstream costs, similar to what happened in 2003/04 (following the consolidation of the majors) and 2009/10 (post the financial crisis). We focus our stock recommendations on our corporate clients – Andes Energia, Nighthawk Energy and Oilex - but acknowledge that the entire sector should participate in the recovery.
Growing production at $70/bbl oil prices
06 Oct 15
We reiterate our Buy rating and retain our 93p target price following Andes Energia’s interim results. Andes benefits from high domestic oil prices in Argentina, production has grown over 20% yoy in Argentina and the company is now funded to fully participate in the aggressive drilling campaign in the conventional Chachahuen oilfield, operated by YPF. Andes is trading at a 32% discount to our core NAV of 34p, which includes just production and development assets, the majority of which are in Argentina.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.
Minor delay but lower cost and better visibility enhance the investment profile
13 Jan 17
First oil at Stella is delayed by about a month, reducing the contribution of Stella to FY17 production by the same period. While this has an impact on FY17e free cash flow, this is negligible to our valuation. More importantly, FY17 opex are estimated at only US$18/boe, below our estimates of US$20/boe. There are opportunities to reduce opex further. Harrier is expected to reach first oil in 2018, one year earlier than we expected and at a cost of US$40 mm lower than we anticipated. The overall development cost is less than US$6.0/boe. Ithaca holds numerous discoveries around Stella that would be developed with a similar cost structure to Harrier.
16 Jan 17
We take a look at the rankings of the various countries in Africa that have a significant exposure to mining. We take the Transparency International corruption rankings as our starting point and modify these for exceptional geology and for current UK government travel warnings. Ghana, Botswana and Namibia come out as our top three, with Eritrea, Kenya and Zimbabwe at the bottom of our rankings.