Cenkos: Oil & Gas Sector -- Argos Resources, Serinus Energy, Southern Energy, Zephyr Energy, Canadian Overseas Petroleum, Genel Energy, DNO ASA, Beacon Energy, Touchstone Exploration, Africa Oil, Maurel et Prom

Oil posted its first weekly loss since June as low trading volumes left the market vulnerable to macroeconomic concerns, overshadowing signs of a tight physical environment. West Texas Intermediate settled just above $81 a barrel, down nearly $2 for the week, as poor economic data and a widening housing slump in China weighed on risk assets. The gloom has eclipsed signs of a tighter crude market, including US stockpiles that declined to the lowest level since January. Aggregate open inter

SP Angel Morning Energiser: 15/12/22

EIA reports stock builds

SP Angel Morning Energiser: 11/04/22

Market Update: 11 April 2022

Hybridan Small Cap Feast 24-09-2021

Press reports that Law firm Mishcon de Reya has agreed a merger with life sciences specialist Taylor Vinters after recently confirming its plans to go public on the London Stock Exchange (LSE). Eurowag confirms its intention to undertake an initial public offering on the Main Market (Premium). The Offer would be expected to comprise both (i) new Ordinary Shares to be issued by the Company, raising gross proceeds of approximately EUR200m to support Eurowag's growth strategy and (ii) existing Ordi

Small Cap Feast

Wickes to demerge from Travis Perkins and list on the Main Market. Expected 28 April. Advance Energy to complete an RTO on AIM indirectly acquiring up to 50% of Carnarvon Petroleum Timor which holds a 100 per cent. working interest and is the contractor under the Buffalo PSC, offshore Timor-Leste. Carnarvon Petroleum Timor is a subsidiary of ASX listed company, Carnarvon Petroleum Limited. The net proceeds of the Placing of approximately £20.01m (approximately US$27.51mm) will be used to fund

GMP FirstEnergy ― UK Energy morning research package

Argos Resources (ARG LN) (not covered): Falklands update | TransAtlantic Petroleum (TAT US/TNP CN) (not covered): Potential management buy out | JKX Oil & Gas (JKX LN) (not covered): 3Q18 update | Volga Gas (VGAS LN) (not covered): September production in Russia | Savannah Petroleum (SAVP LN) (not covered): Discovery in Niger

Trinity Exploration and Production - Core Business Remains Robust, Cost Manageme

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

Seplat Energy: 1Q24 results - operations strong, financials skewed

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

I3 Energy (I3E LN) - Full year 2023 results

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.

Arrow Exploration Corp. (AIM: AXL): Further reserves addition at Carrizales Norte

• 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

Annual Results – Major Turnaround

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.

Beowulf Mining (BEM LN) – Initiation Note – BUY – Supporting Scandinavia's Green Transition

Beowulf is an AIM/Spotlight-listed developer of two flagship assets; Kallak, a high-grade iron ore project in Sweden and the Grafintec Graphite Anode Materials Plant. The Company's Kallak North project has the potential to produce 2.5mtpa of high-grade, premium iron ore concentrate suitable for the growing green steel industry in Sweden. Additionally, Grafintec's Anode Material Plant Project is well positioned to serve the growing EV battery supply chain in Europe, whilst supporting EU plans

Oil & Gas - Cavendish sector note

88 Energy, Falcon Oil & Gas, Afentra, Touchstone Exploration, Trinity Exploration & Production, Sound Energy, Serica Energy, Star Energy, Southern Energy Corp, Ithaca Energy, i3 Energy, Equinor ASA, OKEA ASA, Aker BP, Galp Energia, Var Energi, TotalEnergies, Eni SpA, Repsol SA, ExxonMobil, Chevron Source: FactSet, weekly change 22/04/24-26/04/24 Oil rose this week amid signs of a tightening physical market while traders continue to assess lingering Middle East risks. West Texas Intermediate edge

Arrow Exploration (AXL LN) - Full year 2023 results

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.

i3 Energy - 2024 Guidance: Consolidation for Growth

i3 Energy announced that its 2024 guidance consists of expectations to drill 10.5 net wells (7.6 net wells in Central Alberta, 1.9 net wells in Simonette and 1.0 net wells in the Clearwater play) with 85% of capex allocated to the second half of the year. Total capex expenditure for the year is guided at $US 50.9m. The company indicated that it intends to commence pad drilling of its Montney acreage in Q1 2025 and we perceive the company is bulking up for that significant growth opportunity for

Trinity Exploration and Production - Reserves Reduction but Solid Core Business

Trinity has announced a c28% reduction to its 2P reserves following a YE23 review. Despite the decrease in the Company’s 2P reserves, Trinity’s core business remains robust, with a reserves/production ratio of >12.5 years at YE23. Whilst there is significant potential for growth within the current portfolio, this will be difficult to unlock from the current balance sheet and we believe further financing will be required. We update our target price to 76p (from 202p), a c85% premium to the curren

Morning Note – 29 April 2024

SP Angel Morning View: China likely to trump BHP offer for Anglo American

SP Angel Morning View: Copper jumps over $10,000/t as BHP bid for Anglo highlights miners' appetite for copper

AUCTUS ON FRIDAY - 26/04/2024

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$1.00 per share: Important step to unlock Sicily – The Italian ministry has informed ADX that it will be granted the d 363C.R-.AX gas exploration permit in the Sicily Channel. In addition, the Regional Administrative Court of Rome has annulled the Plan for the Sustainable Energy Transition of Eligible Areas that prevented the oil redevelopment, appraisal and exploration activities on the licence.

FY23 - preparing for horizontal drilling