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NewMed suspends BP-ADNOC talks
Companies: AET NWMD VAR
SP Angel
Companies: Afentra PLC
Tennyson Securities
UK nuclear costs on the rise
Companies: TLW AET GENL GTE GTE GTE
EU carbon permit prices falls below €70/t
Companies: Afentra PLC (AET:LON)Longboat Energy Plc (LBE:LON)
Positive news from Afentra yesterday, which has received government approval for the Sonangol acquisition, offshore Angola. This should boost investor confidence that both this and the Azule Energy transaction on the same assets will complete before year-end. A successful conclusion to these two transactions, alongside the already completed INA acquisition, will deliver Afentra a material non-operated shallow water portfolio in an established and prolific hydrocarbon province containing signific
Cavendish
German gas storage 100% full
Companies: MSMN GKP DNO AET RRRP3 ORRON DNO
Afentra has published an Admission Document for its two Angolan RTOs, allowing trading of its shares to recommence this morning. The Sonangol and Azule acquisitions in Angola will deliver Afentra a material non-operated shallow water portfolio containing significant production enhancement, development and exploration opportunities. The deals will add net 2P reserves of ~33 mmbbls and net 2C resources of ~20 mmbbls, alongside net production of ~5,700 bpd. They also offer significant upside potent
EU storage rises to 82% full
Companies: MAU MAU LOGP AET PHAR
Energy prices broadly unchanged
Companies: HBR AET ATOM
No material surprises from Afentra’s FY22 results, which are relatively academic ahead of the completion of its two Angola acquisitions. The smaller of these deals with INA has recently completed and Afentra remains on track to complete the larger Sonangol deal in Q2 2023. Afentra will fund these acquisitions from cash resources (which remain strong at over US$30m) and debt (plenty of firepower remains on its existing US$110m RBL facility and US$30m working capital facility). We reiterate our Bu
Afentra has completed the first of its two Angolan upstream acquisitions, securing a foothold in Angola, where it is looking to build a material production business. The necessary licence extension has also been agreed on improved fiscal terms, keeping the larger Sonangol deal on track to complete by mid-year. These deals deliver a material non-operated shallow water portfolio containing significant production enhancement, development and exploration opportunities. The producing fields are highl
Research Tree provides access to ongoing research coverage, media content and regulatory news on Afentra PLC. We currently have 0 research reports from 8 professional analysts.
Jubilee today reports its Q3 and third quarter operational results from its expanding operations in Zambia (copper) and South Africa (chrome and PGM). South Africa is on a growth trajectory with record chrome production of 409kt in the quarter (Q2 FY2024 381kt) and a monthly record in March of 145kt and production YTD of 1.13Mt (0.94Mt). Jubilee is well underway to its annual target capacity of 2,1Mt/yr especially with the new 300kt/yr chrome plant at Thutse expected to be operational in August
Companies: Jubilee Metals Group PLC
WHIreland
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
Companies: Trinity Exploration & Production Plc
Companies: BILN ELCO NXQ CUSN ATG
• The Nong Yao-13 exploration well in the new Nong Yao D area that was targeting multiple zones has encountered >30 feet of new oil play across several new shallow intervals which have not been produced elsewhere on the concession. These reservoirs are believed to be recurring across the Nong Yao D area. • The drilling result confirms that oil has successfully migrated into this area of the block (a factor that was seen to be a risk in the Nong Yao D area) and open the opportunity for further a
Companies: Valeura Energy Inc.
Auctus Advisors
I3 has announced the sale of the majority of its royalty interests in Canada, for US$24.8m cash. This allows the company to fully repay amounts drawn on its debt facility and create a working capital surplus, giving I3 significant additional funding flexibility going forward
Companies: i3 Energy Plc
Zeus Capital
NextSource is uniquely positioned to build a leading vertically integrated position, ex China, in the supply of Lithium-ion battery anode material which is essential for the Energy Transition. The company is commissioning phase 1 of its world-class Molo graphite mine in Madagascar and is in the final permitting process for its first Battery Anode Facility (BAF) to be located in Mauritius. The company is backed by Vision Blue, established by Sir Mick Davis, former CEO of Xstrata. On our calculat
Companies: NextSource Materials Inc
Capital Access Group
Companies: 88E RNO TRIN KRM EXR BOOM
DEC reported FY23 results which were in line with expectations and announced the acquisition of joint venture assets from Oaktree along with an updated capital allocation framework.
Companies: Diversified Energy Company PLC
Dowgate Capital
Chariot, Energean, Touchstone Exploration, Longboat Energy, Hartshead Resources, BP, Helix Exploration, PetroTal, Pantheon Resources, Caspian Sunrise, Petrofac, DNO ASA, Valeura Energy, Aker BP, Var Energi Source: FactSet, weekly change 08/04/24-12/04/24 Oil rose as Israel braced for a possible attack from Iran, a development that would threaten major disruptions in a region that accounts for a third of the world’s crude output. An assault is expected to come as soon as the next 48 hours, which
Companies: HHR TXP LBE CHAR
Union Jack has released an update on its Wressle asset, reporting maturing production from Wressle-1, alongside progress for significant further development activities on the field going forward.
Companies: Union Jack Oil Plc
Companies: PLL TLG HZM SAV KAV KP2 SVML
Pharos Energy reported FY23 results on 27 March. Group net production of 6,508 boepd (FY22: 7,166 boepd) was in line with guidance, assisted by successful development drilling in Vietnam and exploration successes in Egypt. Pharos’s strong cash generation resulted in a stronger balance sheet, with net debt reduced to US$6.6m (from US$28.9m at the end of 2022) and cash balances totalling US$32.6m. This left the group free to return more cash to shareholders, including a 10% increase in dividends,
Companies: Pharos Energy PLC
Progressive Equity Research
Shore Capital
Hunting has released its Q1 trading statement, reporting a strong period for OCTG and Subsea, steady growth in Advanced Manufacturing, and a softening in Perforating Systems.
Companies: Hunting PLC
Union Jack announced an operational update on its onshore UK Wressle field and confirmed plans to announce the payment of a cash dividend to shareholders along with the FY23 results in May. Wressle continues to deliver material revenues to the Company, generating positive cash flow and providing it with sufficient cash resources to fund shareholder returns and invest in new development projects.
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