AUCTUS ON FRIDAY - 20/06/2025
AUCTUS PUBLICATIONS________________________________________
ADX Energy (ADX AU)C; Target price of A$0.30 per share: Focus on the shallow gas prospects – ADX has initiated the farm-out process for the GOLD cluster of shallow gas prospects in ADX-AT-II. This cluster includes the GOLD (A&C), GOLD (B), GRAB, and ZAUN prospects, with a combined P50 prospective resource estimate of 12.1 bcf (13.3 bcf on a mean basis). GOLD accounts for 7.5 bcf, while ZAUN and GRAB hold 2.7 bcf and 1.9 bcf, respectively. The probability of success stands at 77-81% for GOLD (A, B &C), 55% for ZAUN, and 57% for GRAB. A successful outcome at GOLD would significantly enhance confidence in ZAUN and GRAB’s potential. These prospects target the shallow Hall Formation play in the Upper Austrian Molasse Basin—a well-established Miocene-age sandstone reservoir that has produced a cumulative 232 bcf since 1969. The formation hosts approximately 83 gas fields. The Hall Formation typically consists of stacked thin sands, with a maximum total net sand thickness of ~8 m, exhibiting excellent porosities (18.5%–27.4%) and permeabilities (30–150 mD). Even sands with 250 bcf (~42 mmboe) of discovered resources.
Sunda Energy (SNDA LN): Farm out transaction in Timor Leste terminated – Sunda could not execute a rig contract. As a result the farm-in agreement with TIMOR GAP has been terminated.
TotalEnergies (TTE FP): Expanding portfolio in Malaysia and Indonesia - TotalEnergies is acquiring from PETRONAS interests in multiple blocks offshore Malaysia and in one block offshore Indonesia. The licenses cover more than 100,000 km2. Total will hold a 50% WI in Blocks SK301b and SK313, where significant gas discoveries (more than 4 tcf) were made. Total will also acquire a 24.5% interest in the Bobara block, offshore Indonesia.
EUROPE
ConocoPhillips (COP US): Successful appraisal well in Norway – The 6507/5-12 S Slagugle appraisal well encountered several oil columns in a 188-metre interval in the Are formation and Grey Beds. 75 metres consist of sandstones with very good reservoir properties.
Star Energy (STAR LN): Trading update in the UK – The FY25 production guidance of 2,000 boe/d has been re-iterated. Net debt as at the end of May was £10.5 mm.
MIDDLE EAST AND NORTH AFRICA
Gulf Keystone Petroleum (GKP LN): Operating update in Kurdistan – Gross production to date in 2025 averaged 44.9 mbbl/d. The company has declared a US$25 mm interim dividend. Net cash as at 19/06/2025 was US$100 mm. The company expects to produce 40-45 mbbl/d (gross) in 2025 with US$25-30 mm net capex.
SUB-SAHARAN AFRICA
Afentra (AET LN): Acquisition in Angola – Afentra is jointly acquiring with Maurel & Prom a 10% interest in Blocks 3/05 and 13.33% interests in Blocks 3/05A from Etu Energias. The Initial consideration for Afentra’s 50% share of these acquisitions is US$23 mm, due on completion. There is also a contingent consideration of up to US$11 mm across both blocks linked to oil price, operation performance and potential discoveries. The transaction has an effective date of 31/12/2023.
Baron Oil is an independent oil and natural gas exploration company. Co. owns exploration acreage in the U.K. and Peru. The principal activity of Co. is that of oil and gas exploration and production.
ConocoPhillips is an exploration and production company engaged in exploring for, producing, transporting and marketing crude oil, bitumen, natural gas, liquefied natural gas and natural gas liquids. The company's segments include: Alaska, which operates in Alaska; Lower 48, which operates in the United States and the Gulf of Mexico; Canada, which operates in Alberta and British Columbia; Europe and North Africa, which consists of operations and exploration activities in Norway, the United Kingdom and Libya; Asia Pacific and Middle East, which operates in China, Indonesia, Malaysia, Australia, Qatar, and Timor-Leste; and Other International, which operates in Colombia, Chile and Argentina.
Eni is engaged in the oil and gas exploration and production, gas marketing operations, management of gas infrastructures, power generation, petrochemicals, oil field services and engineering industries. Co.'s operations are divided into three segments; Exploration and Production (oil and natural gas exploration and field development and production, as well as LNG operations), Gas and Power (supply, trading and marketing of gas and electricity, managing gas infrastructures for transport, distribution, storage, re-gasification, and LNG supply and marketing), and Refining and Marketing (supply of crude oil, refining and marketing of refined products). Co. maintains operations in 73 countries.
Falcon Oil & Gas is a development stage company engaged in the business of acquiring, exploring and developing petroleum and natural gas properties. Co. has producing petroleum and natural gas properties in Alberta, Canada and exploration projects in Hungary and Australia.
IGas Energy is engaged in exploring for, appraising, developing and producing oil and gas. Co. has producing assets in Scotland, East Midlands and the Weald Basin and is seeking to develop shale resources across its acreage position focusing on the East Midlands, Yorkshire and the North West of England. As of Dec 31 2016, Co. had proved plus probable reserves of 13.4 million barrels of oil equivalent, which consisted of 12.7 million barrels of oil and 3.95 billion cubic feet of gas.
Sterling Energy, together with its subsidiary is an upstream oil and gas company. Co. is an operator of exploration and production licenses, with a primary geographic focus on Africa. Co. is primarily focused on the development of its Somaliland Odewayne block, and Mauritania C-10 exploration block. Co. holds 40% working interest in the Somaliland Odewayne exploration block. This unexplored frontier acreage position comprises an area of 22,840 sq. km. Co. holds 13.5% working interest in the Mauritania C-10 exploration block. Block C-10 covers an area of approximately 8,025 sq. km. As of Dec 31 2016, Co. had a total proven plus probable oil reserves of 73,000 barrels of oil equivalent.
Total is an international integrated oil and gas company also active in solar and biomass energy sources. Co. engages all aspects of the petroleum industry, including Upstream operations (oil and gas exploration, development and production, and LNG (Liquefied Natural Gas)) and Downstream operations (refining, petrochemicals, specialty chemicals, marketing and marketing and trading and shipping of crude oil and petroleum products). In addition, Co. is engaged in the coal mining and power generation sectors. Co.'s worldwide operations are conducted through three business segments: Upstream, Refining & Chemicals, and Marketing & Services.
Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector.
The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy.
Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors.
Auctus provides Corporate Broking, Equity Research and Investment Banking services.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.