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Zenith Energy, the Africa and Italy focused E&P junior is in the early development phase for its recently acquired assets in the former. Progress in Tunisia has been encouraging and fortuitously the energy industry backdrop both globally and in Italy has been highly positive. Production in the six months to September 2021 was still modest but momentum should gather pace in the second half following the completion of a 22.5% interest in the Sidi El Kilani (SLK) Concession in Tunisia along with su
Companies: Zenith Energy Ltd.
IN OTHER NEWS
Canadian Overseas (COPL LN/XOP CN): Raising US$8 mm of new equity – Canadian Overseas has raised US$8 mm of new equity priced at 20p per share. The net proceeds of the placing are intended to be used for a bid for Cuda Energy LLC, or its assets, through a receivership process.
Southern Energy (SOUC LN): 3Q21 results – 3Q21 production in the USA was 12.3 mmcf/d with
Companies: ZEN SOU AOI XOP CHAR EQNR EQNR JSE LUPE SHEL SEPL SENX SOU
ADX Energy (ADX AU) C; Target price increased from A$0.040 to A$0.045 per share: 2P reserves increased by >150% with further upside possible – 2P reserves at the Zistersdorf and Gaiselberg fields in Austria as at 1 July 2021 have been estimated by the company’s reserves auditor at 1.8 mmboe. This represents a 154% increase versus previous estimates. The reserves increase reflects 32+ recompletions to access behind pipe reserves from d
Companies: GTE PPC ADX ALV ALV BP/ CE1 CNE CEG DNO DNO ENOG FEC GENL PXT SNM TETY TETY TGL EGY VOG ZEN
Zenith Energy Ltd* (ZEN.L, 1.1p/£15.5m) Beneficiary of surging power prices
Market update - 19/08/2021
Companies: Zenith Energy Ltd. (ZEN:LON)Helium One Global Limited (HE1:LON)
Zenith Energy is an LSE and Oslo-listed oil and gas junior focused on production and nearterm development rather than exploration. Its geographic focus is Africa. Over the past 18 months Zenith has obtained development projects and oil production assets for modest consideration in Tunisia and the Republic of Congo. Both are well-established hydrocarbon provinces. In Tunisia Zenith is planning field revitalisation programmes across its four concessions while in the Congo it has the near offshore
Market update - 08/07/2021
Energean Oil & Gas (ENOG): Positive CPR report for offshore Israel | Union Jack Oil* (UJO LN): Further progress at Biscathorpe | Mosman Oil & Gas* (MSMN LN): Production led growth strategy sees further activity | 88 Energy (88E LN): ERCE estimates 1.77bnboe at Project Icewine | Zenith Energy (ZEN LN): Arab investors pull out of LOI
Companies: UJO MSMN 88E ZEN
Reabold Resources (RBD LN): Tamaska walks away from potential farm-in, Romania | Zenith Energy (ZEN LN): Second purchase in Tunisia confirmed
Companies: Reabold Resources plc (RBD:LON)Zenith Energy Ltd. (ZEN:LON)
Enwell Energy (ENW LN): Production up 2.5% yoy | Zenith Energy (ZEN LN): Further expansion in the Republic of Congo
Companies: Enwell Energy plc (ENW:LON)Zenith Energy Ltd. (ZEN:LON)
GeoPark (GPRK US)C; Target price US$20: Delivering on plan; boosting balance sheet | PetroTal (PTAL LN/TAL CN)C: Operation update | 88 Energy (88E AU/LN): Update in Alaska | Trinity Exploration and Production (TRIN LN) | Empyrean Energy (EME LN): Equity raise cancelled, launching open offer | Jadestone Energy (JSE LN): FY19 results | Aker BP (AKERBP NO): 1Q20 update in Norway |Dry hole in Norway |ENI (ENI IM): 1Q20 results | Equinor (EQNR NO): Reducing dividend | i3 Energy (I3E LN): Need to nego
Companies: 88E AKRBP ENI EQNR GKP GPRK I3E JSE TAL SDX SNM SOU SQZ TLW TRIN WRL ZEN
Zenith Energy (ZEN LN): Delisting from TSX-V and repayment of largest liability | Baron Oil* (BOIL LN): Baron establishes 33.3% interest in SundaGas TLS, fully funded for FY20 and FY21
Companies: Zenith Energy Ltd. (ZEN:LON)Baron Oil Plc (BOIL:LON)
Zenith Energy (ZEN LN): Attractive entry into Tunisia | Coro Energy (CORO LN): FY19 Results, liquidity position an area of focus
Companies: Zenith Energy Ltd. (ZEN:LON)Coro Energy Plc (CORO:LON)
Diversified Gas & Oil (DGOC LN): Moving to the main board | Echo Energy (ECHO LN): Argentina update | Hurricane Energy (HUR LN): Operating update in the UK | JKX Oil & Gas (JKX LN): 1Q20 update in Ukraine and Russia | Regal Petroleum (RPT LN): Ukraine update | Tethys Oil (TETY SS): Production update in Oman | Update on payments in Kurdistan | Victoria Oil & Gas (VOG LN): 1Q20 update in Cameroon | Zenith Energy (ZEN LN/ZEE CN/ZENA-ME NO): Renegotiate price of Congo acquisition
Companies: DEC ECHO GENL GKP HUR ENW TETY VOG ZEN
Zenith Energy (ZEN LN): Exclusivity Agreement for oil production asset, Tunisia | Tower Resources* (TRP LN): Heads of terms signed to farm out Thali PSC | Lekoil (LEK LN): Internal review complete, Lekoil’s financial exposure confirmed at US$450k
Companies: ZEN TRP LEK
Research Tree provides access to ongoing research coverage, media content and regulatory news on Zenith Energy Ltd..
We currently have 36 research reports from 7
Companies: Savannah Energy Plc
Forecast and valuation update
Companies: IOG PLC
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
Companies: AfriTin Mining Ltd.
Hannam & Partners
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
Companies: Chariot Limited
Oil posted its seventh weekly gain as tight fuel-supply balances sustain bullish fundamentals, though headwinds brought on by accelerating US inflation capped crude's advance.
West Texas Intermediate fell 0.7% after trading in a $4 range during a volatile session on Friday. Despite the fall, WTI ended the week 1.5% higher. The US Labor Department reported inflation quickened to a 40-year high, chilling broader markets and potentially signalling to the Federal Reserve to extend an aggressive
Companies: FO 88E CHAR DEC EME GTC TRIN WEN
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
Companies: Wentworth Resources PLC
EQTEC has accepted the offer of a loan with an up to 75% LTV on an existing waste to energy project in development in Greece. We think this shows that EQTEC’s technology is now able to demonstrate a commercial maturity ahead of most others in the sector. With the additional potential for funding support under the Recovery and Resilience Facility, the potential for both this and other EQTEC projects in Greece is strong.
Companies: EQTEC PLC
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.
AfriTin Mining Limited (AIM: ATM), has released initial results from its Lithium and Tantalum drilling program at the Company's flagship polymetallic asset, the Uis Mine. This comes on the back of the announcement of positive lithium test work where a high purity (up to 94%) petalite lithium concentrate was produced from bulk ore samples by independent test facilities. Today's announcement combined with the test work adds further confidence of the Company successfully extracting lithium and doin
• 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
Companies: PetroTal Corp.
• 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
Savannah, which operates the Barroso lithium mine project in Portugal, reports today the results of its locked cycle test to determine optimal flotation reagents to confirm lithium recoveries and spodumene concentrate grades. Savannah is aiming for a 5.5%Li2O concentrate grade with a near 80% recovery. The reported work confirms that these should be possible and that in larger scale, bulk testing these parameters may improve. The work also highlights that there are still optimisations to be h
Companies: Savannah Resources Plc
Companies: EVG IGP ITX SAVE STM XSG