Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on CHARIOT OIL & GAS LTD. We currently have 21 research reports from 3 professional analysts.
|02Dec16 04:40||RNS||Second Price Monitoring Extn|
|02Dec16 04:35||RNS||Price Monitoring Extension|
|01Dec16 03:00||RNS||Block admission return|
|09Nov16 02:00||RNS||Board Remuneration and Grant of Share Awards|
|16Sep16 04:35||RNS||Price Monitoring Extension|
|14Sep16 07:00||RNS||Interim Results|
|05Jul16 10:38||RNS||Result of AGM|
Frequency of research reports
Research reports on
CHARIOT OIL & GAS LTD
CHARIOT OIL & GAS LTD
The Oily Rag
11 Nov 16
Topic of the quarter: We discuss the outlook for the North Sea following the Wood Review and restructuring within the industry since the downturn in the oil price. Consistent with other mature regions, the North Sea has struggled with declining production and a stubbornly high cost base. Following the Wood Review and changes to the fiscal terms and regulatory environment, we discuss how these developments could prolong production and maximise economic recovery in the long term. Issues remain surrounding decommissioning and appetite for the region given its maturity but there is now at least a clear framework around which the industry can constructively operate. We feel that the future of the North Sea will be driven by the smaller, more nimble E&Ps and we profile Hurricane Energy, Ithaca Energy, Independent Oil & Gas and Parkmead Group. We also discuss the opportunities for the service sector.
The Oily Rag
05 Aug 16
Despite a particularly mild winter, the US power sector used 2.2tcf of gas between December and February, an increase of over 10% on the previous year. The key driver for this increase has been a shift away from coal due to the introduction of stricter environmental controls on the sector under the terms of the ‘Clean Power Plan’. As a result, the electricity sector now accounts for c30% of gas demand in the US, and this is set to increase further as more coal-fired generation is replaced by cleaner gas-fired capacity.
17 Jun 16
"London equities appear set to record strong gains this morning, with reports of the tragic murder of a UK Member of Parliament apparently throwing the Brexit debate into disarray. Expected closing of referendum-led shorts, while also riding on new confidence gleaned from the overnight and early morning international markets ending their losing streaks, means that the FTSE-100 is seen opening up around 40 points. A strong expression of public revulsion on the daylight attack, that was reportedly carried out in the name of UK independence, resulted in significant gains for the 'Remain' vote in the betting markets during late-afternoon trading. This point highlights the fact that the vote, which polls suggest had swung convincingly in favour of the 'Leave' camp, is by now far from a certainty and upon which financial markets are prepared to express quite dramatic relief. US stocks climbed Thursday, snapping a five-session streak of losses as telecommunication and utilities shares recovered, while the Nikkei in Japan rose off its four-month low, dragging most Asian markets behind it, as its government left its assessment of the overall economy unchanged despite suffering from exceptional recent Yen strength. The UK has scheduled no major data or corporate results due for release for this morning, although the IMF will report on the UK economy, while in Europe the ECB president Mario Draghi will also be speaking." - Barry Gibb, Research Analyst
11 May 16
"London equities are seen opening flat to lower this morning, with the FTSE-100 expected 5 points down. The main influence overnight remained oil prices, with the rebound driving the US indices to their largest one-day gains since March as commodity-linked and financials drove positive sentiment broadly across all sectors. Asia, by comparison, largely ignored the same influences, preferring to concentrate of widening expectations of Japanese intervention to tame Yen strength and largely ended flat to modestly down as a result. Executive compensation returns as a talking point in London, as a leading shareholder advisory group criticises Royal Dutch Shell’s CEO bonus award. Meanwhile investors should expect release of UK industrial production data, the NIESR's monthly GDP estimates and the National Institute Economic Review as well as George Osborne appearance before the Treasury Committee. Results are due from Compass, Experian and TUI, along with trading updates from Barratt Developments, National Express and William Hill." - Barry Gibb, Research Analyst
01 Nov 16
Since our last outlook note, Quadrise has begun to supply MSAR for extended LONO sea trials, paving the way for commercial adoption from calendar H217 onwards. In August it signed a memorandum of understanding with clients in the Kingdom of Saudi Arabia (KSA), which is a key enabler for progressing the production-to-combustion pilot there. In October it completed a placing and open offer raising a total of £5.25m (gross). This should enable it to transition comfortably to the commercial phase on successful completion of the LONO and KSA trials.
GTL transaction not going ahead
01 Dec 16
Intelligent Energy (IEH) has announced that the deal to acquire the Energy Management Business of GTL will not now be consummated. The move leaves management free to concentrate on driving sales of commercially ready B2B products, which is a key element of its strategy. We adjust our FY17e revenue estimate while leaving our pre-exceptional losses and cash-flow forecasts unchanged.
GMP FirstEnergy ― UK Energy morning research package
30 Nov 16
Gran Tierra (GTE CN)1, 6; BUY, C$5.50: Equity financing and acquisition of two blocks from Ecopetrol | Northern Petroleum (NOP LN)1; SPECUATIVE BUY, £0.15: Farm out and equity issue | President Energy (PPC LN) (not covered): IFC Equity Subscription | Primeline Energy (PEH CN) (not covered): 2Q16 Results ended 30 September 2016 | Faroe Petroleum (FPM LN)6 ; BUY, £1.20: Oda update in Norway | Jersey Oil & Gas (JOG LN)1 ; Under Review: Placing | SacOil (SAC LN/SCL SJ)1 : SPECULATIVE BUY, £0.016, Trading Update
24 Nov 16
Quixant* (QXT): Gaming gains (CORP) | SCISYS* (SSY): Bringing good news from Germany (CORP) | Hayward Tyler Group*: Contract wins (CORP) | Sound Energy (SOU): TE-7 flow rate and fund raise (BUY) | Water Intelligence* (WATR): Growth and improving returns in a defensive market (CORP) | Imaginatik* (IMTK): Interim trading update (CORP)
Operating profits and net cash position – restored; market outlook – precarious
01 Dec 16
The turnaround was noticeable Lonmin’s full-year (September-ending) results were ahead of consensus and AV’s estimates. Sales came in at $1.1bn (-14% yoy) as the average realised (USD-denominated) PGM prices and sales volumes were down yoy 12% and 2%, respectively. However, platinum sales (736koz) were much ahead of earlier guidance (700koz) – thanks to certain smelting/processing efficiencies, which helped more than offset the impact of reorganisation-related disruptions. After two consecutive years (FY14-15) of hefty operating losses, Lonmin finally reported an adjusted operating profit (even though feeble) of $7m. This was facilitated by the record weakness in the South African rand (down from ZAR12/$ in FY15 to ZAR14.77/$ in FY16) and ZAR1.3bn of cost savings – 86% higher than the earlier target. Disappointingly, Lonmin recognised $335m of asset impairments (vs. $1.8bn in FY2015), which resulted in a full-year net loss of $400m. But the turnaround in reported OCFs – inflow of $58m vs. an outflow of $12m – was a much-needed improvement, which, along with conservative capex (-35% yoy) of $87m, resulted in a net cash position of $173m (with no short-term repayments) vs. a net debt position of $185m (at end-FY15). But the guidance spells caution For FY17, management targets conservative platinum sales of 650-680koz, while unit costs are expected to remain under pressure – ZAR10,800-11,300/oz vs. ZAR10,748/oz achieved in FY16. On the other hand, capex plans would be aggressive – ZAR1.8bn (which includes ZAR400m for the tailings project – already delayed by almost two years) vs. ZAR1.3bn spent in FY16.
Raising Target Price to 2,500p per share
01 Nov 16
Royal Dutch reported clean EPS of US$0.35, nearly 50% ahead of consensus. More importantly, cash flow jumped QoQ to US$8.5bn which should go a long way to confirming Shell’s capacity to maintain the current dividend, despite the increase in gearing to 29.2%. Upstream returned to profitability on an underlying basis for the first time since 1Q15. We believe these results confirm our view that Shell’s dividend can and will be maintained at US$0.47 per quarter and we increase our Target Price to 2,500p per share, given further sterling weakness.