Cenkos: Oil & Gas Sector -- Tethys Oil, IOG, Hurricane Energy, Saudi Aramco, Reabold Resources, Arrow Exploration, Maurel et Prom, Equinor ASA, DNO ASA, Genel Energy, Shell

Oil posted the worst weekly loss since the early months of the coronavirus pandemic as banking turmoil poisoned investor sentiment. West Texas Intermediate lost nearly 13% this week, the largest drop in almost three years. The failure of Silicon Valley Bank and troubles at Credit Suisse Group AG drove investors from risk assets, with oil-options covering accelerating the selloff. “Crude action this week reminded many of how quickly the commodity can be decimated by macro economic events,”

Cenkos: Oil & Gas Sector -- Getech Group, 88 Energy, Chariot, Neptune Energy, Tullow Oil, Harbour Energy, Shell, IOG, Pantheon Resources, Touchstone Exploration, PetroTal Corp, John Wood Group, San Leon Energy, Angus Energy, Energean

Oil posted a weekly loss with macroeconomic headwinds dominating the market as traders await clearer signals on Chinese demand trends. Crude declined $3 this week despite Friday's gains amid fears that the Federal Reserve will pivot to more aggressive interest-rate hikes, compounding pressure from tempered economic projections from China and a slower-than-expected recovery in international travel. Bulls looking for a supply-driven bump have been disappointed by the resilience of Russian crude

Auctus on Friday - 10/03/2023

AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LM) C; Target price of £0.55 per share: One step closer to FID – Production ramp-up quicker than expected – Chariot has completed the Front-End Engineering and Design (FEED) on the key components of the Anchois gas development project. The FEED confirms a plateau production of 105 mmcf/d from three wells including the existing Anchois-2 well, subsea infrastructure to an onshore central processing facility and an onshore g

SP Angel Morning Energiser: 08/03/23

Oil tumbles on Fed resolve

Chariot Limited (AIM: CHAR): One step closer to FID – Production ramp-up quicker than expected

• Chariot has completed the Front-End Engineering and Design (FEED) on the key components of the Anchois gas development project. • The FEED confirms a plateau production of 105 mmcf/d from three wells including the existing Anchois-2 well, subsea infrastructure to an onshore central processing facility and an onshore gas pipeline to the Maghreb Europe Gas Pipeline (tie-in agreement already signed). This is in line with previous indications. • We are currently assuming that production will initi

Cenkos: Chariot Ltd -An Important Step Towards FID

Chariot has completed the Front-End Engineering and Design (FEED) on the key components of the Anchois gas development project, offshore Morocco. The conclusion of FEED has cemented the viability and commercial potential of the development, which is underpinned by its excellent reservoir and gas properties, favourable location close to existing infrastructure and the ability to leverage off existing, conventional technology. Detailed discussions on partnering, gas sales agreements and project fi

Cenkos: Oil & Gas Sector -- 88 Energy, Diversified Energy, Seplat Energy, Capricorn Energy, i3 Energy, Hunting, SDX Energy, Touchstone Exploration, Kosmos Energy, Woodside Energy Group, Africa Oil Corp, UK Oil & Gas, Equinor, Arrow Exploration, Longboat En

Global benchmark Brent rose for a second consecutive week, getting a late boost from UAE officials denying OPEC exit plans. After wavering in the morning, crude's rally was revived after state officials disputed a report from the Wall Street Journal of a growing rift between the UAE and Saudi Arabia. Broader risk-on sentiment also supported Friday's advance, pushing both Brent and West Texas Intermediate to their highest intraday in more than two weeks. “The response by the UAE to this new

Cenkos: Oil & Gas Sector -- Wentworth Resources, Impact Oil & Gas, Gran Tierra Energy, Serica Energy, IGas Energy, Panoro Energy, Arrow Exploration, Santos, Eni, Wintershall Dea

Oil prices stagnated this week as traders confront bearish trends including rising US stockpiles and a rebound in demand that has not lived up to expectations. US crude inventories have grown by almost 24 million barrels in the past two weeks, adding to an already oversupplied market. Diesel prices also hit their lowest since pre-war levels as inventories rise and Russia finds ways to export significant amounts of the fuel, said Dennis Kissler, senior vice president of trading at BOK Financia

Cenkos: Oil & Gas Sector -- Getech Group, Falcon Oil & Gas, Tethys Oil, Longboat Energy, Ithaca Energy, EnQuest, IOG, Vaalco Energy, Petro Matad, Zephyr Energy, Challenger Energy, Reabold Resources/Upland Resources/Baron Oil, Var Energi

Oil capped its longest string of daily losses this year as hawkish signals from Federal Reserve officials added to concerns about a glut of crude piling up in storage. A significant increase in US inventories and a broader risk-off sentiment sparked by the prospect of continued rate hikes from the Fed have weighed on oil this week. The headwinds were exacerbated by the federal government's plan to continue drawing down the country's Strategic Petroleum Reserve, with 26 million more barrels se

Cenkos: Oil & Gas Sector --- Tethys Oil, Diversified Energy, 88 Energy, Deltic Energy, IOG, Serica Energy, TotalEnergies, Equinor, bp, Egdon Resources, Var Energi, Aker BP ASA, DNO ASA, Nostrum Oil & Gas

Oil posted its largest weekly gain in four months after Russia followed through on a threat to cut production in response to western energy sanctions. Moscow says it will reduce output by half a million barrels, equivalent to about 5% of January levels. The cut was the first major effect on Russian production from the swath of sanctions that have been placed on the country's output, leading West Texas Intermediate to advance to just below $80. This week's rally also got a boost from Saud

Cenkos: Oil & Gas Sector -- 88 Energy, Trinity Exploration & Production, Chariot, Diversified Energy, Wentworth Resources, Jadestone Energy, Shell, Gulf Keystone Petroleum, Panoro Energy, Hartshead Resources, OKEA ASA, ExxonMobil, PetroTal Corp, Arrow Expl

Oil tumbled to the lowest levels since early January as long-term headwinds overwhelmed the positive sentiment from a strong US jobs report. Brent crude, the global benchmark, dropped below $80 a barrel, while West Texas Intermediate slid to less than $74 a barrel. Futures for both grades climbed earlier in the session as record-low US unemployment figures spurred optimism that demand would hold up. But those gains evaporated as concerns about swelling US stockpiles and weaker-than-expected C

Auctus on Friday - 03/02/2023

AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN)C: Target price of £0.45 per share: On track for a very busy 2023 – Arrow is about to embark on a 10 well drilling programme that could add between 2,800 and 4,800 boe/d net production (before decline and in a success case) to the existing constrained production base of ~1,800 boe/d. Over January, production was ~1,800 boe/d with short term outages due to weather at Ombu and Pepper. This compares with produc

Hybridan Small Cap Feast - 30 Jan 23

30 January 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object

Chariot Limited (AIM: CHAR): Bringing water desalination capabilities in house is important for the green hydrogen business

• Chariot is acquiring ENEO Water PTE for US$0.5-1.0 mm in Chariot shares. • ENEO utilises an efficient, modular and scalable reverse osmosis technology that can be entirely powered by solar energy to produce desalinated water. ENEO is developing a proof of concept at a windfarm on the Red Sea in Djibouti that is under construction and is intended to provide local communities with access to potable water for the next 20 years. The capex of the project is very small (a few hundred thousand US dol

Cenkos: Chariot Ltd -- ENEO Acquisition

With desalinated water a key component in the production of green hydrogen, Chariot has announced the strategic acquisition of ENEO Water, an African company focused on delivering clean water solutions using renewable energy. An initial consideration of US$0.5m will be payable in shares on completion, with a further US$0.5m payable on the achievement of financial close on further projects. The technology used is both modular and scalable, meaning that Chariot can expand the offering beyond the i

LIBERUM: Sylvania Platinum* - 3p interim dividend & new policy

Pantheon Resources - Update to provide perspective on Pantheon Resources' recent developments

In light of Pantheon Resources' most recent operational developments we have provided some background to provide context to appreciate their progress. Where possible, we have sourced direct statements from industry leaders in Alaska in order to provide an unbiased view on certain aspects of Pantheon Resources' exploration and appraisal in that state (see page 2). We have also provided our own thoughts and commentary to provide context for interested parties to get their bearings. We retain our p

Updated Alkaid #2 test results

Loony for Bougouni

Jubilee Metals - H1 FY2023 results

Jubilee today provides its unaudited financial results for the half-year period ending December 2022. Group Revenue of £63.1m (H1 FY2022: £63m) with £58m from its chrome/PGM operations in South Africa and £5m from copper in Zambia. Headline EBITDA of £10.3m (£13.7m) with a closing cash position of £11.7m (£21.5m) after continuing its capital investment program of £24.1m (£28.4m). Production of PGM was down in the period at 18.2koz (20.3koz), but all was from its own facility at Inyoni so cap

Pantheon Resources (PANR) – Corporate – Alkaid#2 Update

Pantheon Resources announced that Alkaid #2 has produced at an IP30 rate of 505 b/d of liquids consisting of 180 b/d of oil and 325 b/d of condensate and NGLs along with 2,300 mcf/d of gas (after shrinkage). Post clean-out, flow rates were initially marginally higher than pre-clean-out rates. The company believes that despite the sand blockage, the final 1,000ft of the well was connected and already contributing to the main wellbore through fluid communication between the fractures.

Hybridan Small Cap Feast - 21 Feb 23

21 February 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objec

Hybridan Small Cap Feast - 06 Mar 23

6 March 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objective

LIBERUM: Atlantic Lithium* - DFS on-track for release in Q3 CY23

IOG (IOG LN) - Full year 2022 results

Numbers partly already released in January. IOG has released its full year 2022 results. In January the company announced gross average production from first gas in March to the end of 2022 of 27.4mmcf/d, end 2022 gross cash of £32.4m (including £5.7m restricted), 2022 revenue before sales deductions of £79.6m, cash OPEX of 13.9p/therm, and cash CAPEX of £61.2m.

More gold on the way at Havieron

i3 Energy Update to Fair Value Estimate

We are updating our fair value estimate to reflect more conservative oil and gas price assumptions. We have lowered our 2023 WTI oil price estimate to $74.05/b from $83.10/b, to align our estimates with market dynamics. We have lowered our US benchmark (Henry Hub) natural gas price for 2023 to $3.02/mmbtu from $3.36/mmbtu, which reflects the most recent price forecast made by US EIA Short Term Energy Outlook. As a result, we are lowering our fair value estimate for i3 Energy to 26.2p from 31.6p

PetroTal Corp (AIM: PTAL): Production back at 20 mbbl/d. Regular payments from Petroperu

• Production was constrained in January and February, with average production of ~7,600 bbl/d and 8,000 bbl/d respectively, due to restricted barging capacity over these two months. • The barging fleet schedules have now been re-established with an increased capacity of 1.5 mmbbl (1.2 mmbbl in 2022) and PetroTal’s production has been averaging 20 mbbl/d since the last week of February. • Given the constrained production rates over January and February, the company now expects 1Q23 production t

Arrow Exploration Corp. (AIM: AXL): Another good well result

• The RCE-4 well encountered 45 feet of net oil pay, including 25 feet in the Carbonera C7 and 20 feet in the Lower Gacheta. The well will initially be completed in the C7 zone, targeting to be on stream in late March. This will increase Arrow’s production and reserves. • The 25 feet encountered in the Carbonera C7 at RCE-4 compares with 19 feet in the same sand at RCE-3, 16 feet at RCE-2 and 38 feet at RCS-1 (C7A and C7B sands). • RCE-2 is currently producing ~ 500 bbl/d (net to Arrow), RCS-

LIBERUM: Atlantic Lithium* - Systematic study of value-enhancing opportunities; DFS on-track for Q2’CY23