Cenkos: Oil & Gas Sector -- Coro Energy, Hurricane Energy, Kistos Holdings, Pharos Energy, Prospex Energy, Petro Matad, Aker BP, Tullow Oil, Touchstone Exploration, Southern Energy, Baron Oil, Chevron Corporation, Corcel

Oil rose a second consecutive week as investors monitored progress made Friday on debt-ceiling talks to avoid a US default. Republican and White House negotiators were moving closer to an agreement to raise the debt limit, according to people familiar with the matter. Still, the agreed-upon details are tentative, and a final accord is not in hand. Prices:  WTI for July delivery rose 84 cents to settle at $72.67 a barrel in New York.  At that level, the contract is up about 1.6% for th

Cenkos: Oil & Gas Sector -- Trinity Exploration & Production, Diversified Energy, Tethys Oil, Pantheon Resources, Egdon Resources, Energean, IOG, Union Jack Oil, Arrow Exploration, Afentra, Canadian Overseas, Zephyr Energy, Tower Resources, EnQuest, Barryr

Oil posted the first weekly gain since early April after tracking broader market sentiment that embraced risk assets on rising optimism the US will reach a debt-ceiling deal. Crude largely abandoned the fundamental trade this week, with traders dissecting news from Washington on attempts to avert a catastrophic default. House Speaker Kevin McCarthy sent mixed messages by saying an agreement in principle may be reached as soon as this weekend, but adding on Friday that bipartisan talks in Was

SP Angel Morning Energiser: 16/05/23

LNG spot rates fall below $10/mmBtu

Cenkos: Trinity Exploration & Production Plc -- Jacobin Well Spud

Trinity has spudded the onshore deep “Jacobin” well, targeting a regionally extensive and lightly drilled deeper play underneath Trinity's existing producing horizons. The well has the potential to access larger, virgin-pressured reservoirs with higher initial production rates than conventional wells, leading to improved economic returns and cash return multiple compared to a shallow angle well. The well will target a material mean oil-in-place of 5.7mmbbls and an upside (P10) case of over 10mmb

Cenkos: Oil & Gas Sector -- Tethys Oil, Diversified Energy, Wentworth Resources, Hartshead Resources, Neptune Energy, Harbour Energy, PetroTal, Genel Energy, Kosmos Energy, Saudi Arabian Oil Company, Touchstone Exploration, Valeura Energy, VAALCO Energy, B

Oil slumped near $70 to mark a fourth-straight week of losses as concerns about demand growth persist. It briefly appeared like West Texas Intermediate would manage to snap its losing streak, supported by signs that Iraqi oil exports likely will not resume on Saturday and the US signalling it could purchase crude to refill the strategic reserve after next month. But a strong dollar Friday, which makes oil more expensive for holders of other currencies, wiped out those gains. Over the week,

Cenkos: Oil & Gas Sector -- Longboat Energy, Chariot, Empyrean Energy, Argos Resources, Sound Energy, Ithaca Energy, Gran Tierra Energy, IOG, Arrow Exploration, Hurricane Energy, Panoro Energy, bp, Shell, Equinor Energy, ConocoPhillips, OKEA ASA.

Oil fell for the third straight week as concerns about softening demand were exacerbated by low trading volumes. West Texas Intermediate settled above $71 a barrel on Friday after trading in a $13 range this week amid renewed instability among regional US lenders and fears the economy is headed into a recession. The string of weekly declines is the longest this year. Signs of strength in the physical oil market suggest the selloff — which included a brief, dramatic plunge to the lowest int

Cenkos: Trinity Exploration & Production Plc -- At An Inflection Point

Trinity is at an inflection point as it prepares to drill the Jacobin well. The well is designed to test a regionally extensive deeper play, situated underneath Trinity's existing producing horizons. Success at Jacobin will provide a catalyst for future growth, unlocking both a further development and a portfolio of follow-on drill-ready prospects and leads. Elsewhere, the award of licences from the 2022 Onshore and Nearshore Competitive Bid Round are due to be announced in May, with Trinity hav

Auctus on Friday - 28/04/2023

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C: Target price of A$0.100 per share: 1Q23 update – 1Q23 production in Austria was 299 boe/d. The company held A$3.41 mm in cash at the end of March. Criterium Energy (CEQ CN)C: On track for near term acquisition – The FY22 financials were in line with our expectations. The company held C$3.7 mm in cash at YE22. Criterium has also filed the notice of intention to file a short form prospectus. This could be an indica

Cenkos: Oil & Gas Sector -- 88 Energy, Trinity Exploration & Production, Kistos Energy, Deltic Energy, Block Energy, John Wood Group, Southern Energy, Ithaca Energy, Echo Energy, Hurricane Energy, Valeura Energy, Hunting, Canadian Overseas Petroleum, Woods

Oil set its first weekly loss in a month after erasing most of the gains stemming from OPEC+'s surprise output cut. Brent crude has wiped out almost all of the $7 that it gained after the Organisation of Petroleum Exporting Countries and its allies blindsided markets with a pledge to cut production. Global supplies are showing signs of growth with Russia's crude exports bouncing back above 3 million barrels a day last week, while in global fuel markets, gasoline and diesel are slowing at a ti

Auctus on Friday - 21/04/2023

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C: Target price of A$0.100 per share: Competent person report confirms the materiality of the Welchau pospect – The Welchau prospect has been estimated to hold between 365 bcfe and 1,128 bcfe of prospective resources by Gaffney, Cline & Associates (GCA) with a mid-case at 645 bcfe including 10.1 mmbbl of condensate. While this is below the 807 bcfe mid-case estimated by ADX, the fact that the lower end of the GCA ran

SP Angel Morning Energiser: 20/04/23

Negative sentiment persists

Cenkos: Oil & Gas Sector -- 88 Energy, Diversified Energy, Trinity Exploration & Production, Tethys Oil, Serica Energy, Savannah Energy, Jadestone Energy, Beacon Energy, Zephyr Energy, Petrofac, Gran Tierra Energy, Var Energi, Arrow Exploration

Oil rose for the fourth straight week, supported by signs of a tightening global market that have the International Energy Agency warning of higher prices ahead. West Texas Intermediate settled above $82 a barrel, posting its longest run of weekly advances since June. Crude is hovering near five-month highs after OPEC+ surprised the market with plans to cut more than 1 million barrels of daily output. Declining US stockpiles, weaker flows from Russia and interruptions to pipeline supplies fro

Auctus on Friday - 14/04/2023

AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN)C: Target price of £0.45 per share: Reaching 2,635 bbl/d without Capella. High cash position – The RCE-5 well flowed 680 bbl/d (340 bbl/d net to Arrow) of oil over the last 24 hours. The well is heavily choked (17/168) and is still unloading completion fluid (12% water cut). As witnessed at the other RCE wells, production is expected to increase as the well stabilizes. Initial production at RCE-5 is above expe

SP Angel Morning Energiser: 12/04/23

Commodity prices hold steady

Cenkos: Oil & Gas Sector -- 88 Energy, Tethys Oil, Jersey Oil & Gas, Hartshead Resources, EnQuest, Serica, Gran Tierra Energy, i3 Energy, Canadian Overseas Petroleum, John Wood Group, Serinus Energy, United Oil & Gas, Barryroe Offshore Energy

Oil posted a third straight weekly gain after a surprise supply cut by OPEC+ and a drop in US inventories tightened the market outlook. Prices rallied the most this year on Monday, surging 6.3%, following the decision of the Organisation of Petroleum Exporting Countries and its allies to slash more than 1 million barrels of daily output starting in May. Saudi Arabia has since hiked prices of all its oil sales to customers in Asia. Crude has risen 26% from its intraday low reached mid-March

Fully funded for range of activities - operational and key third party evaluations

Andrada Mining: Lithium driving value after “numerous unsolicited approaches” to accelerate Uis development

Andrada Mining (“ATM”) has announced several unsolicited approaches from international entities to accelerate production from its lithium portfolio through a potential strategic partnership in its Uis project in Namibia. A global investment bank has been appointed to provide a structured assessment of potential partners based on financial and technical merits. After the expansion of the Phase 1 tin operation in 2022, Uis achieved record quarterly tin concentrate output for the three months to Fe

Initial Equity Trading Comments - 15 May 2023

Touchstone Exploration+ (TXP, House Stock at 58p) - US$7m revolving loan facility

Jersey Oil and Gas (JOG LN) - Full year 2022 results

JOG has released its full year 2022 results. These report a net cash holding of £6.6m which, alongside upcoming payments under the GBA farm out deal with NEO Energy, gives JOG a very strong funding base. The statement also reiterates the company’s focus on progressing its GBA project, including approval and closure of the farm out, progression of the Buchan development plan, likely a second farm out, and then FID in H1 2024. We expect this to represent a series of catalysts over the coming month

Cenkos: Diversified Energy Company Plc -- 54% Cash Margin & 37% Annualised FCF Yield

Despite the challenging commodity price environment, Diversified has announced a strong set of Q1/23 results. Cash margins and annualised free cash flow yield increased to c54% and c37% respectively, as a result of lower per-unit expenses and the Company's robust hedging portfolio. Diversified's hedging strategy continues to advantageously position the Company, with remaining 2023 average natural gas hedge floors of US$3.79/Mcf at a 35% premium to current strip pricing, and a 55% premium to the

Pantheon Resources (PANR) – Corporate – Successful $22m Placing

Pantheon Resources announced the closing of a $22m significantly oversubscribed placing and subscription priced at 17p. The use of proceeds will include: i) funding the flow testing of the Alkaid#2 well from the SMD horizon, ii) funding a competent person report to be prepared by Netherland Sewell and Associates covering the Theta West and Alkaid oil discoveries, iii) funding the preparation of dynamic models and field development models to be prepared by SLB (formerly Schlumberger) and iv) fund

Successful first test at CN-1

The time has come!

In the next six months, Aminex (AEX) will embark on a development programme that will see the company become a producer and free cash flow (FCF) generator. Between drilling the new Chikumbi-1 well (CH-1), re-entering the existing two wells, processing of the new 3D seismic, signing a GSA, and reaching first gas, there will be plenty of milestones in 2023 to, in our view, gradually “guide” the market towards recognising a full value for the targeted initial 60mmscf/d gross production in late 2023

LIBERUM: Caledonia Mining* - The worst should be behind us; onwards and upwards from here

LIBERUM: Helium One* - >60% increase in Helium resource

Hybridan Research: Sector Review: Critical minerals for UK - mining and battery recycling: 09-05-2023

Virgin mining: Energy security and decarbonisation are driving the race in the sourcing of critical minerals from the natural world. This has contributed to the revival of exploration activities in the US, Europe and to a lesser degree the UK. For example, the global identified lithium resources increased from 40m tonnes in 2015 (the Paris Agreement year) to 97m tonnes in 2023, at a CAGR of 12%, according to the U.S. Geological Survey data. For example, there was no identified lithium resources

Hybridan Small Cap Feast - 23 Feb 23

23rd May 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 objectiv

Reserves at Shell: Shooting itself in the foot?

Hangover from the noughties debacle still seems to weigh Is Shell''s seeming conservatism on SEC reserves accounting effectively shooting itself in the foot? After two weeks of talking with investors, several of whom expressed concern that Shell''s lowly reserves life would require it to spend beyond guidance to sustain its hydrocarbon business, our impression is, most likely, yes. Push into the details and time and time again, all too apparent in our view is that when it comes to reserves accou

Anglo Asian Mining* - FY22 reflect lower gold production, FY23 guidance reiterated and 8c dividend maintained