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 16:35||RNS||Price Monitoring Extension|
|09Nov16 15:12||RNS||Holding(s) in Company|
|21Oct16 15:23||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.
Opuama production restarts
21 Feb 17
Eland has confirmed the successful restart of exports from OML 40 through the new shipping alternative that it has implemented. Sales from the export terminal are expected imminently, re-establishing cash generation for Eland. Cash at YE16 was US$11.1m which has since reduced to US$5.9m, mainly reflecting initial operating expenses for the shipping alternative. While it is early days, Eland has demonstrated its ability to restart exports and production from OML 40 following the shut-down of the Forcados terminal a year ago. Production to date is averaging around 7kbd and we expect that to ramp up as Opuama operational performance improves. At US$55/bbl Brent, we estimate Eland is generating a net cash margin of around US$25/bbl. We reiterate our Buy recommendation and 95p per share Target Price.
Small Cap Breakfast
24 Feb 17
GBGI—Schedule One update from integrated provider of international benefits insurance. Raising £32m at 150p. Admission expected tomorrow. Anglo African Oil & Gas— Admission expected early March. Acquiring stake in producing near offshore field in the Republic of the Congo. 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.
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.