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Savannah provided its interim snapshot yesterday and it is worth pointing out where it has come from and where it is going to, with a catalyst-rich future ahead of it. The Mina do Barroso project remains one of the most advanced spodumene projects in Europe and as such is very well located in terms of market (close to a main end-use market with all the freight savings – cost and carbon – that implies) and available green energy to power production. The project benefits from political support fo
Companies: Savannah Resources Plc
Phoenix copper today provides an operational update with plenty of work streams running in parallel. It continues to make progress on finalising plans for bringing the Empire oxide open pit into production after nearly completing its hydrological studies and finalising plans for a permanent mine office in Mackay – 5 miles from the proposed operation.
Companies: Phoenix Copper Ltd. (United Kingdom)
H1 2021 results
Companies: Jersey Oil & Gas PLC
EQTEC have confirmed that they have signed a Share Purchase Agreement with Rotunda Energy Ltd and its subsidiary Shankley Biogas Ltd to acquire ownership of the Southport Hybrid Energy Project from Rotunda.
Companies: EQTEC PLC
£8.5m equity raise at 25p for appraisal drilling
Companies: IOG PLC
No surprises in JOG’s interim results, with the market’s main focus – the company’s GBA Development farm-out process – ongoing. The resurgence of UK North Sea M&A has brought the shares back to life recently as the market is reminded of the scale of the resource and development opportunity JOG is sitting on. While JOG’s main focus remains on securing funding and a partner for its GBA Development, the company has indicated it is reviewing a number of potential acquisitions/mergers. JOG’s strong m
While the Permian was considered as a core region for the group, we believe this transaction makes sense. Given the new strategy, there is indeed a limited interest in keeping short cycle and high cost assets in the portfolio. This might also tell that, by selling the most liquid assets, divesting remains challenging. The good news is that, by distributing most of the proceeds back to the shareholders, Shell does not depend on divestments to fund its transition.
Companies: Royal Dutch Shell Plc Class A
Companies: Union Jack Oil Plc
The Wressle oil field, in which Union Jack (UJO) holds a 40% working interest has achieved flow rates of 964 boepd from the primary Ashover Grit reservoir. This has been attained on a restricted choke setting and no formation water has been produced as the well continues to clean up. This is very positive news for UJO given that the reported flow rate exceeds initially forecasted rates by a substantial margin and further operations to increase gas handling capacity could increase hydrocarbon
Jersey Oil & Gas announced its interim results of which we believe the key news items are as follows:
i) The company had a cash balance of £17.06m as at 30 June 2021;
ii) The company indicated its farmout process is ongoing that that the company is engaged with both industry parties and potential infrastructure funders; and
iii) Regional electrification collaboration within the Central North Sea is building momentum amongst industry parties and the GBA is ideally located to be an integral p
Calima Energy (CE1 AU)C; Target of A$0.75 per share: Good production performance – Production in August was 3,493 boe/d, up 200 boe/d compared to July as all the new wells at Brooks now contribute to production, more than offsetting natural decline. Financials for August are broadly in line with our expectations. The three new Thorsby wells drilled in August and September could be on stream for November with an individual IP rate of ~2
Companies: ALV ALV CE1 COP COP EDR IOG RDSA TETY TETY TXP
Touchstone announced its fifth consecutive discovery on the Ortoire block in Trinidad last week, with the Royston well encountering nearly 400ft of hydrocarbon pay, double pre-drill expectations. The discovery needs to be production tested to confirm its commercial viability but is thought to be the largest geological structure on the block in the Herrera formation, which could ultimately rival Shell’s 500 bcf Central block reserves. We are lowering our geological risking on Royston, which incre
Companies: Touchstone Exploration Inc
Oracle is pushing ahead with a fast-paced gold exploration programme in Western Australia. The two projects; The Northern Zone and Jundee East, are both located in prolific producing gold provinces and proximal to existing multi-million-ounce gold mines. Drilling has recently commenced at the Northern Zone project, with first assays expected in Q4. Jundee East is drillready following a successful geochemical sampling programme and a drill plan is currently being devised to test high priority ta
Companies: Oracle Power PLC
Companies: Thungela Resources Limited
We are publishing new forecasts and refreshing our view based on the company's recent results including their latest five year plan. Shanta's promising project pipeline means that >100Kozpa gold production is within sight (+62% vs 2021) by 2023 along with >200Kozpa production levels from 2025. AISC falls accordingly from $1371/oz to $568/oz. Assuming a flat $1800/oz gold price over the next two years we are forecasting a 2.5x uplift in EBITDA and near fourfold increase in net earnings. Net cash
Companies: Shanta Gold Limited