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Q1/24 sales volumes averaged 2,669bopd, a 2% QoQ and 8% YoY reduction (Q4/23: 2,736bopd, Q1/23: 2,899bopd) as Trinity continues to offset natural production decline through an active programme of workovers, recompletions, and swabbing. Trinity has reiterated its 2024 sales volume guidance of 2,600-2,700bopd (a c5% YoY reduction at the mid-point). Cash at 31 March 2024 was US$8.6m (31 December 2023: US$9.8m). Trinity has also provided an update on the Jacobin-1 well, where the forward plan is to
Companies: Trinity Exploration & Production Plc
Cavendish
I3 has released its full year 2023 results, demonstrating the cash generation capability of its business, and funding position going into the increased planned 2024 CAPEX programme, where new drilling is expected to begin in June.
Companies: i3 Energy Plc
Zeus Capital
Seplat delivered an encouraging operating performance in 1Q24 including production of 49.3kboed, towards the upper end of guidance (44-52kboed). All current guidance was maintained but good progress on the ANOH export infrastructure and an earlier than expected resumption of exports through Zone 6 of the Trans Niger Pipeline improve confidence that guidance will be at least met. Financial performance for the quarter was skewed by a substantial underlift, FX effects, and a high deferred tax charg
Companies: Seplat Energy PLC
Capital Access Group
Companies: Sylvania Platinum Ltd.
Liberum
Pantheon Resources announced that Lee Keeling & Associates (“LKA”) has ascribed the Alkaid Horizon, consisting of the smallest and deepest development candidate of the Ahpun field, 79 mmb of recoverable reserves and resources (5 million barrels of possible reserves and 74 million barrels of contingent resources).
Companies: Pantheon Resources plc
WHIreland
Companies: CNC RNO MAI IUG CUSN POLB
• FY23 production was in line with our expectations and the YE23 cash balance of US$12 mm had been reported previously. • The highlight of the announcement is the discovery by the CN-8 well of multiple hydrocarbon-bearing intervals. 14 feet of net oil pay were encountered in the Carbonera in an area that was not considered prospective. The pay zone is a clean sandstone exhibiting consistent 25% porosity and high resistivities. The well has been put in production at a gross rate of 330 bbl/d (165
Companies: Arrow Exploration Corp.
Auctus Advisors
Companies: Touchstone Exploration Inc
Shore Capital
Alien recently announced (RNS 29.04.24) that it had entered into a joint venture with Errawarra Resources (ASX:ERW no rec) concerning the lithium rights of its Pinderi Hills project in the West Pilbara, Australia. This new project JV is concerned with lithium exploration over the licences which host the Munni Munni PGM-copper-nickel project and the Elizabeth Hill silver project. The farm-in by Errawarra effectively values the lithium JV at A$8m.
Companies: Alien Metals Ltd
Castings has released a brief trading update for FY24 to the end of March indicating that results will be marginally ahead of market expectations, so we increase FY24 PBT estimates by 4.7% to £21.0m, driven by an improved margin. Demand in the heavy truck market has been normalising with forward schedules now at a lower level, as also reported by major truck OEMs. Zeus forecasts for FY25 will be revisited at the 12 June results when we will have a better indication of demand volumes. At current
Companies: Castings Public Limited Company
Arrow has released its 2023 results, alongside updates on its ongoing drilling programme in Colombia. These help demonstrate the progress made on production and cash flows as a result of the campaign so far, with drilling activity ongoing throughout 2024.
Canaccord Genuity
Serabi Gold (AIM: SRB, TSX: SBI) have released their FY2023 annual results today, delivering on what has been a strong year back to profitability. Overall, earnings have largely tracked our forecast. The company has also announced a debt refinancing as a post year end balance sheet event.
Companies: Serabi Gold PLC
Tamesis Partners
We have now updated our forecasts for the recent full year 2023 results. This sees our 2024 numbers remain unchanged, but our 2025 numbers nudge up, remaining above the existing 2025 guidance range.
Companies: Gulf Marine Services PLC
Companies: Personal Group Holdings Plc (PGH:LON)Reabold Resources plc (RBD:LON)
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