SP Angel Energy: Shale gas exploration to commence (GEEC LN)

Great Eastern Energy Corporation Ltd (GEECL) announced that it has executed an amendment to its Petroleum Mining Lease on the Raniganj (South) block in West Bengal and will now progress with its shale exploration programme.

SP Angel Oil & Gas Daily Flow: 19/01/21

Market update - 19/01/2022

Great Eastern Energy Corporation* (STRONG BUY) - Capitalising on India's growth outlook

GEEC continues to successfully navigate the ramifications of the pandemic and today's interim results further underline the financial and operational resilience of the business in our view. Sales volumes and revenues grew in line with expectations during the first six months of FY22 and investors will be encouraged that the average gas sales prices received remains robust, with profits ahead of forecasts. Encouragingly, operations continue to grow with gas production increasing from a FY average

SP Angel Oil & Gas Daily Flow: 14/07/21

Market update - 14/07/2021

Great Eastern Energy Corporation* - FY21 Results - Poised for significant growth

Whilst GEEC's full year results to 31 March 2021 underline the challenges experienced by the sector as a result of the COVID-19 pandemic, the Company has successfully demonstrated the resilience of its financial position. As expected, sales volumes were adversely impacted, however we believe investors will be encouraged that the average gas sales prices received remain robust, and therefore the Company remains profitable. Currently, operations continue to grow with gas production having increase

Oil & Gas Daily Flow

Great Eastern Energy* (GEEC LN), STRONG BUY: H1 2021 results underline financial resilience | Jadestone Energy (JSE LN): Teikoku dispute settled | Lekoil* (LEK LN): Shell Trading prepayment facility fully repaid

Oil & Gas Daily Flow

Great Eastern Energy Corporation* (GEEC LN): Payment obligations confirmed | Nostra Terra Oil and Gas (NTOG LN): Accretive low risk cash generative acquisition

Oil & Gas Daily Flow

Premier Oil (PMO LN): Trading update, net debt continues to fall | Great Eastern Energy Corporation* (GEEC LN): COVID-19 update highlights robust liquidity position

Oil & Gas Daily Flow

Great Eastern Energy Corporation* (GEEC LN): FY20 results, resistance to volatility | Ascent Resources* (AST LN): Administrative Court rules that EIA is required ahead of well stimulation

Great Eastern Energy Co.

FY 2020 results

UK Oil & Gas Sector

Oil price update – what does it mean for oil and gas equities?

Transformational resource base

Great Eastern Energy Corporation’s (“GEEC or the Company”) share price represents an attractive entry point into a growing, profitable gas producer with considerable exposure to the Indian consumer market. The Company has successfully established a full-cycle upstream, midstream, and downstream portfolio with a transformational resource base, and an aggressive work programme to exploit the high margin potential of its gas reserves. We therefore initiate coverage with a STRONG BUY rating and 282p

Oil and Gas Daily Flow

Great Eastern Energy Corporation* (GEEC LN): SP Angel site visit to India | Genel Energy (GENL LN) – Steve Whyte to be replaced by George Rose | Angus Energy (ANGS LN): OGA awards Saltfleetby Licence and Operatorship to Angus

Oil & Gas Daily Flow

nQuest (ENQ LN) – EnQuest awarded Block PM409 PSC offshore Malaysia | Great Eastern Energy Corporation* (GEEC LN): SP Angel site visit to India | Volga Gas* (VGAS LN): November production increases 50%

Oil prices help, but the best returns come from asset growth

This note takes a look at UK oil and gas sector equities from the supermajors down to the small cap E&Ps, the extent to which they outperform a simple bet on oil prices, and whether there are common characteristics that can allow investors to pick winners in the space. We conclude that outperformance is possible and has been achieved by numerous names in the last ten years, with the core hallmarks being asset base augmentation, either by progressing assets and/or via acquisition, and possessing

SHORE CAPITAL - SAVANNAH ENERGY+ (SAVE, 38p, Under Review) – Agreement in Chad for new renewable energy projects

IOG - Forecast and valuation update

Forecast and valuation update

SHORE CAPITAL - SAVANNAH ENERGY+ (SAVE, 40p, Under Review) – FY21 results; completion of Chad-Cameroon entry expected in Q3

Pantheon Resources (PANR) - Significant Increase in Fair Value Estimate

We are increasing our fair value estimate for Pantheon Resources to 208p, from under review (previously 184p). The change reflects what we believe was an unambiguously positive winter drilling campaign. This full note details the background analysis to the change in estimate of fair value, which includes a valuation table and an assessment of the forthcoming Alkaid#2 well.

Exceptional transformation… and it may be just a beginning

With several opportunistic but timely acquisitions in 2021, coupled with the recent surge in the oil price, Zenith Energy has, in our view, completely transformed itself and its value proposition to investors. While for various reasons it has not been easy for the market to fully recognise and reward this transformation, we expect 1) doubling production, 2) further strengthening of its balance sheet and 3) becoming Free Cash Flow (FCF) generative this year, will make it difficult for the market

IOG - Trading update

Trading update

Cenkos: Chariot Ltd -- Fast-Tracking the Anchois Development

Chariot has signed a front-end engineering and design (FEED) agreement with Schlumberger and Subsea 7 (the Subsea Integration Alliance) for the Anchois gas development project. Chariot and the Subsea Integration Alliance will adopt a “one team” integrated and collaborative approach to fast-track first gas from Anchois to maximise the return on investment for all stakeholders. The scope of work covers all the development's offshore elements including well completions and subsea production systems

AfriTin Mining: Operational efficiencies continue to drive down unit costs in another record quarter for Phase 1

AfriTin Mining (“ATM”) has announced another record-breaking quarter from Uis Phase 1. Tin production increased 13% QoQ to 152t for the three months to May (Q1 FY’23), supported by record recoveries, which along with cost initiatives drove a 16% improvement in All-In Sustaining Costs. The strong performance continues to support growth projects including incorporation of petalite lithium and tantalum by-products, upon which AfriTin recently announced positive drilling and metallurgical test work

EQTEC - Key Milestone for Southport

EQTEC has reached a key milestone in its Southport energy from waste project with the appointment of Anaergia as EPC and O&M partner. This is a complex project using multiple waste treatment solutions and we see EQTEC’s inclusion as a demonstration that it’s technology can combine with these to create an optimal outcome.

Arrow Exploration - RCS-1 flow testing results

RCS-1 flow testing results

Cenkos: Trinity Exploration & Production Plc --Commencement of Drilling Programme

Trinity has announced the commencement of its highly anticipated onshore drilling campaign. The Company's fully funded, six well drilling programme will target an aggregate 450-1,100mmbbls of reserves at a cost of US$14-17m. In addition to drilling four “conventional” low angle wells, Trinity will also drill one horizontal well and one deeper appraisal well, with both the horizontal and deeper appraisal wells having the potential to deliver substantially higher production and economic returns ve

Cenkos: Wentworth Resources Plc -- 7.1% Yield and Growth

Wentworth has announced a positive operational update ahead of its AGM to be held later today. Daily production year-to-date (YTD) has averaged 92.2MMscf/d, a c15% YoY increase (2021: 79.9MMscf/d) and ahead of Wentworth's 2022 guidance of 75-85MMscf/d. As noted previously, the strong performance of the Mnazi Bay asset YTD has allowed Wentworth to increase its total dividend distribution in respect of 2021 to 1.7p per share, a yield of c7.1%. Mnazi Bay continues to supply Tanzania with half of th

PetroTal Corp (AIM: PTAL): 0.72 mmbbl sales will trigger a US$60 mm payment to PetroTal earlier than expected

• Section II of the Northern Peruvian Pipeline has been temporary re-opened. • As a result, 0.72 mmbbl of PetroTal’s Bretana oil has been tendered at the Bayovar port by Petroperu for the July lifting. This oil previously entered the pipeline in late 2020 for which PetroTal was paid just ~US$45/bbl at the time. • PetroTal will receive the difference between this price and the price at which Petroperu will sell the oil in July (~US$120/bbl), generating over US$60 mm of price adjustment true-up r

Cenkos: Wentworth Resources Plc -- Tanzania's Leading Domestic Gas Producer

Wentworth has announced the acquisition of a 25% non-operated working interest in the Ruvuma PSA from Scirocco Energy for an initial consideration of US$3m plus contingent payments of up to US$13m. The consideration is structured to ensure that the majority is only paid in a success case, providing Wentworth with a low-cost entry point into a high growth opportunity. The transaction has the potential to nearly double the Company's production by 2026 and add over 190Bcf of 2P reserves on a Final

Wentworth Resources plc (AIM: WEN): Delivering on targets

• 2022 YTD gross production was 92 mmcf/d, ahead of our expectations of 89 mmcf/d for 1H22. • The FY22 production guidance remains unchanged at 75-85 mmcf/d. It looks very conservative in our view. • The company currently holds US$26 mm in cash and no debt. This is in line with our expectations. • TPDC continues to be current with regards to receivables. • We re-iterate our target price of £0.45 per share. Steady growth and dividend Our Core NAV for the company based on its 2P reserves only i