Latest Content

88 Energy Limited
Cenkos: 88 Energy Ltd -- Quarterly Update

During the quarter, 88 Energy received final petrophysical interpretation of the Charlie-1 well, with the results indicating that the well had encountered 398ft of net pay across six prospects/discoveries. The results confirmed the Upper and Lower Lima targets as large oil discoveries. With the Stellar targets in the Torok Formation also confirmed as hydrocarbon discoveries. Additionally, the HRZ Shale at the Charlie-1 location has been interpreted as being within the peak oil generation window. During the quarter, 88E also completed the takeover of XCD Energy, in the process creating an Alaska focussed oil-exploration and appraisal company, with a diversified portfolio across three highly prospective project areas, Project Icewine, Yukon Leases and Project Peregrine. Near-term activity will focus around updated resource estimates following the final petrophysical interpretation of the Charlie-1 well. At Project Peregrine, several initial non-binding farm-out offers have been received, with 88E on schedule to drill two wells at the Harrier and Merlin prospects during Q1/21.

 View

  • 22 Oct 20
  • -
  • -
Shearwater Group plc
Cenkos: Shearwater Group Plc -- Cautious on Covid

Expected profitability in H1E will be consistent with the level delivered in the interim period last year, albeit at a substantially higher margin. Order flow had seen some disruption from COVID-19 in fiscal Q1E and into Q2E but the September cycle for RFPs and order wins has been encouraging. Our FY21E forecasts are unchanged, and with the stock at the bottom of its trading range, we maintain our buy recommendation.

 View

  • 22 Oct 20
  • -
  • -
OPG Power Ventures Plc
Cenkos: OPG Power Ventures Plc -- Deleveraging strategy execution

OPG has produced a strong set of full year results. Revenue increased 9.5% YoY to £154.0m whilst strong free cash flow generation enabled material debt repayments. Post period end, the Group continued to make debt repayments and favourably refinanced a portion of its debt. Management swiftly implemented a COVID-19 cost reduction strategy and capitalised on financial stimulus provided by the Government and the Reserve Bank of India. Importantly, September 2020 showed signs of a recovery as Chennai plant load factors increased to 63% (H1/21A 46%). We believe the long-term structural growth dynamics in the Indian power production sector remain compelling.

 View

  • 22 Oct 20
  • -
  • -
Mercantile Ports & Logistics Limited
Cenkos: Mercantile Ports & Logistics Ltd -- Revenue Momentum

The Group continued to gain revenue momentum, commencing the £5.5m, 40-month Tata/Daewoo contract on 1 April 2020. Additionally, management implemented a strict cost reduction strategy, enabling robust cash management. As a result, the Group had access to cash of £17.9m at period end, comprising of £7.8m cash and £10.1m of undrawn facility.

 View

  • 21 Oct 20
  • -
  • -
Seeing Machines Limited
Cenkos: Seeing Machines Ltd -- MOU with L3Harris Technologies

Seeing Machines has announced that it has signed a non-binding Memorandum of Understanding with global aerospace and defence technology company L3Harris Technologies. The MOU frames the intent to enter into a global non-exclusive license agreement to enhance pilot training technology with Seeing Machines's dedicated precision eye-tracking system for flight crew training in the full flight simulator (FFS) environment. A license arrangement is currently in advanced discussions between the parties and subject to the negotiation and execution of definitive, binding licensing and other legal agreements. Further announcements regarding the progress of the negotiations in relation to such binding documentation will be made when appropriate.

 View

  • 21 Oct 20
  • -
  • -
TP Group Plc
Cenkos: TP Group Plc -- Interim Results

TP Group (TPG) delivered robust organic growth of 13% during H1/20A. However, the impact of COVID-19, together with increased investment and a shift in business mix, meant that Adj EBITDA reduced by £0.9m YoY to £1.4m. TPG has today announced it is in advanced discussions to dispose of its non-core oil and gas focused engineering business. Despite the strong and expanding order book, COVID-19 continues to create uncertainty around the timing of contract deliveries. As such, our forecasts remain withdrawn and our rating Under Review.

 View

  • 20 Oct 20
  • -
  • -
 

Cenkos Securities Research and Daily Commentaries

Research Tree offers Cenkos Securities research, providing ongoing coverage of 229 shares , as well as macro-economic categories including: Commodities - Agriculture. We offer 1486 reports from Cenkos Securities on Research Tree.

  • Research reports provided by Cenkos Securities

  • Companies covered by Cenkos Securities

  • Sectors covered by Cenkos Securities