Latest Content

United Oil & Gas Plc
Cenkos: United Oil & Gas Plc -- Q1/21 Quarterly Update

United Oil & Gas has released a Q1/21 production report ahead of its 2020 Financial Results on the 26 of April. Production during Q1/21 averaged 2,520boepd, slightly above the H1/21 guidance of between 2,300boepd-2,500boepd, and a 12% increase on Q4/20. During the quarter, the Company successfully drilled and completed the ASH-3 development well, encountering 27.5m of net pay. Since coming onstream on the 5 March, the ASH-3 well has been producing at an average rate of over 4,000boepd (880boepd net). Post period, United announced that the ASD-1X exploration well had encountered at least 22m of net pay across a number of reservoir intervals. The well will now be tested, and if successful, will lead to an application to EGPC for a development lease over this new discovery.

 View

  • 12 Apr 21
  • -
  • -
Xpediator Plc
Cenkos: Xpediator Plc -- FY20A Annual Results

Xpediator delivered a solid performance in FY20A, with +3.7% revenue growth and Adj PBT of £7.2m (+41% YoY) in line with our forecasts. After an initial slowdown in activity in the early stages of the pandemic, trading recovered strongly towards the end of FY20A, which has continued into FY21E. With Xpediator confirming it remains in line with expectations for FY21E, we leave these largely unchanged (Adj PBT remains at £7.7m). We release new forecasts for FY22E (Adj PBT £8.5m), which reflects continued growth in the business. With the stock trading on a FY21E EV/EBITDA of c5.8x, we reaffirm our Buy rating.

 View

  • 12 Apr 21
  • -
  • -
Pelatro Plc
Cenkos: Pelatro Plc -- Growing visibility leads to upgrade

The business model has been transformed by the focus largely on recurring customer engagements. The higher quality revenue base is accompanied by very strong growth prospects in both core and new markets. Increased revenue visibility means that we are upgrading our FY21E forecasts. Buy.

 View

  • 12 Apr 21
  • -
  • -
Concurrent Technologies Plc
Cenkos: Concurrent Technologies Plc -- FY20 prelim results update

Concurrent delivered results ahead of our December 2020 upgraded revenue and PBT forecasts, with record revenues in FY20, up 9% to £21.1m (FY19A: £19.4m). As a supplier to some of the world's most prominent defence companies, Concurrent was designated an essential defence supplier and production, design and development operations substantially continuing throughout the period of COVID-19 interruption. With a strong order book, £11.8m cash and no debt, focussed advanced technology R&D increasing and progress with its plans to add new hardware and software product ranges into new markets (AI, software and services), Concurrent is well positioned to accelerate growth as core markets emerge from COVID-19 difficulties.

 View

  • 12 Apr 21
  • -
  • -
FO 88E DGOC EME GTC TRIN UOG
Cenkos: Oil & Gas Sector -- United Oil & Gas, 88 Energy, Argos Resources, Diversified Gas & Oil, Pharos Energy, IGas Energy, PetroTal Corp, Block Energy, Pantheon Resources, Hurricane Energy, Enwell Energy, Caspian Sunrise, Ithaca Energy

Oil posted its worst week in three amid concerns that rising global coronavirus cases are slowing the economic recovery. West Texas Intermediate futures ended the week down 3.5%, the biggest weekly loss since mid-March. With the Organisation of Petroleum Exporting Countries and its allies planning to start raising output, markets are now focused on whether the demand recovery will be enough to absorb growing supplies. While consumption is climbing in India and the US, rising virus cases and the possibility of stricter travel limits in Europe are muddying the forecast and putting pressure on crude. Oil plunged Monday after the UK said it may delay global travel beyond 17 May. A stronger dollar also weighed on oil Friday, reducing the appeal of commodities priced in the currency. A higher-than-expected rise in US March producer prices stoked inflation concerns. Saudi Arabia said it remains confident that OPEC+ made the right decision to increase production over the next three months, and there are signs of better days ahead for demand that could soak up the additional barrels. India's oil-products demand in March rose to the strongest since late 2019, while Germany reiterated support for a short, strict lockdown in the country. In the US, traffic is roaring back in some cities, an indication of stronger demand this summer. Making the calculation even more complex are ongoing talks between Iran and world powers to resuscitate a 2015 nuclear deal, which would set the stage for the Persian Gulf to increase supply. Negotiations are set to continue next week, though no direct contacts between Iranian and US envoys have yet been made. Prices  WTI for May delivery fell 28 cents to settle at $59.32 a barrel.  Brent for June declined 25 cents to end the session at $62.95 a barrel. The contract fell 2.9% over the week. Crude in New York has around $60 a barrel since mid-March, with market volatility slumping to the lowest in a month. Prices have not broken out of a $5 trading range over recent weeks, and have oscillated in smaller and smaller bands with each passing day -- creating a technical pattern some see as indicative of a breakout higher.

 View

  • 12 Apr 21
  • -
  • -
Diversified Gas & Oil PLC
Cenkos: Diversified Gas & Oil Plc -- Reaffirmation of Borrowing Base and EIA Energy Outlook

Diversified Gas & Oil (DGO) has announced that the Company's bank lending group has completed the semi-annual redetermination of the Company's senior secured credit facility and reaffirmed the existing US$425m borrowing base with no changes to pricing, covenants or other material terms. Despite a challenging market and a backdrop of many borrowing base reductions, DGO has once again proved the strength of its production-led long-life, low-decline business model. Elsewhere, the US Energy Information Administration (EIA), in its Short-Term Energy Outlook has forecast Henry Hub natural gas prices to average US$3.04/MMBtu for full-year 2021, a 50% increase on 2020, with gas prices forecast to further increase to US$3.11/MMBtu in 2022. We update our price target to 129p and reiterate our BUY recommendation.

 View

  • 09 Apr 21
  • -
  • -
 

Cenkos Securities Research and Daily Commentaries

Research Tree offers Cenkos Securities research, providing ongoing coverage of 252 shares , as well as macro-economic categories including: Commodities - Agriculture. We offer 1685 reports from Cenkos Securities on Research Tree.

  • Research reports provided by Cenkos Securities

  • Companies covered by Cenkos Securities

  • Sectors covered by Cenkos Securities