reports
- Daniel Slater
- Stephane Foucaud
AUCTUS ON FRIDAY - 20.03.2026
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.19 per share: New equity raise ahead of drilling in Austria – ADX has raised A$4.4 mm new equity at A$0.027 per share. Investors will also receive one option for every two new shares, with an exercise price of A$0.0405 per share. The proceeds will fund the HOCH‑1 shallow exploration well in Austria, which is expected to spud next month. The strengthened cash position also enables well‑site prep...
UPL UPLAND RESOURCES
GTE GRAN TIERRA ENERGY
EGY VAALCO ENERGY INC.
GENL GENEL ENERGY
SEY STERLING ENERGY PLC
ENI ENI S.P.A.
ALVOF ALVOPETRO ENERGY LTD
SEI. SINTANA ENERGY
TRP TOWER RESOURCES PLC
VLE VALEURA ENERGY INC.
DNO DNO ASA CLASS A
MAHA A MAHA ENERGY
GKP GULF KEYSTONE PETROLEUM LTD.
FEC FRONTERA ENERGY CORP
ENOG ENERGEAN PLC
JSE JADESTONE ENERGY
CRCL CORCEL
AXL. ARROW EXPLORATION LTD
ITH ITHACA ENERGY PLC
ADX ADX ENERGY LTD
CDR CONDOR ENERGIES INC
- Stephane Foucaud
Corcel plc (AIM: CRCL): Equity raise to accelerate activities
• Corcel has raised £3.6 mm of new equity at a price of 0.40p with Investors also receiving one warrant per new share, exercisable at 0.70p per share. • The warrants include an accelerator clause: if the shares trade at or above 0.85p for 25 consecutive trading days, the company may issue notice requiring warrant holders to exercise within 30 days. • The additional capital enables Corcel to procure long‑lead items for the upcoming KON‑16 exploration well. This strengthens the company’s negotiat...
- Daniel Slater
- Stephane Foucaud
AUCTUS ON FRIDAY - 27.02.2026
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of C$0.21 per share: Well test results at Welchau support interpretation of an updip light oil accumulation – Following a small acidisation treatment (6 m³ across 45 m of perforations) in the Reifling interval at the Welchau‑1 well, gas and light oil were recovered at surface during swabbing operations. Although stable inflow was not achieved—indicating that the limited acid volume did not access the ...
EGY VAALCO ENERGY INC.
CNE CAIRN ENERGY PLC
TXP TOUCHSTONE EXPLORATION
MUR MURPHY OIL CORPORATION
ENI ENI S.P.A.
PXT PAREX RESOURCES INC.
AOI. AFRICA OIL
ALVOF ALVOPETRO ENERGY LTD
PEN PANORO ENERGY ASA
ENQ ENQUEST PLC
BP. BP P.L.C.
DGOC DIVERSIFIED GAS & OIL
JSE JADESTONE ENERGY
BWE BW ENERGY
CRCL CORCEL
TAL PETROTAL (TAL)
SEPLAT SEPLAT ENERGY PLC
VISTAA VISTA OIL & GAS SA DE CV
IGAS IGAS ENERGY PLC
ADX ADX ENERGY LTD
PLSR PULSAR HELIUM INC.
HEX HELIX EXPLORATION PLC
- Daniel Slater
- Daniel Slater
- Stephane Foucaud
AUCTUS ON FRIDAY - 12/12/2025
AUCTUS PUBLICATIONS ________________________________________ Corcel (CRCL LN)C; Target price of 1.40p per share: Equity raise from blue chip new investors bolsters balance sheet ahead of busy 2026 – Corcel has raised £3 mm of new equity at a price of 0.35 p per share from two blue chip new investors. Following the raise, Corcel’s cash balance is expected to reach ~£6 mm by YE25. In addition, Sintana Energy will pay Corcel ~US$2 mm in cash upon closing the acquisition of a 5% interest in KON‑16. ...
GALP GALP ENERGIA SGPS SA CLASS B
GTE GRAN TIERRA ENERGY
EGY VAALCO ENERGY INC.
RKH ROCKHOPPER EXPLORATION
ENI ENI S.P.A.
PXT PAREX RESOURCES INC.
REP REPSOL SA
ALVOF ALVOPETRO ENERGY LTD
SQZ SERICA ENERGY
PHAR PHAROS ENERGY
GKP GULF KEYSTONE PETROLEUM LTD.
ZEN ZENITH ENERGY
BLOE BLOCK ENERGY
BWE BW ENERGY
CRCL CORCEL
HBR HARBOUR ENERGY PLC
KIST KISTOS PLC
PLSR PULSAR HELIUM INC.
- Stephane Foucaud
Corcel plc (AIM: CRCL): Equity raise from blue chip new investors bols...
• Corcel has raised £3 mm of new equity at a price of 0.35 p per share from two blue chip new investors. • Following the raise, Corcel’s cash balance is expected to reach ~£6 mm by YE25. In addition, Sintana Energy will pay Corcel ~US$2 mm in cash upon closing the acquisition of a 5% interest in KON‑16. Together, the estimated cash position and receivable from Sintana represent ~25% of Corcel’s post‑raise market capitalization. • The cash balance is significantly greater than the ~US$3 mm remain...
- Daniel Slater
- Stephane Foucaud
AUCTUS ON FRIDAY - 07/11/2025
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Busy 1H26 – 3Q25 WI sales averaged 251 boe/d, in line with expectations. The company held ~A$4 mm in cash at the end of September, also in line with forecasts. A busy operational period is anticipated in 1H26. Flow testing at Welchau is scheduled to recommence in January, starting with fluid sampling and pressure measurements in the already perforated Reifling formation—the shallo...
GPRK GEOPARK
OMV OMV AG
ENI ENI S.P.A.
PXT PAREX RESOURCES INC.
ALVOF ALVOPETRO ENERGY LTD
PEN PANORO ENERGY ASA
SNM SHAMARAN PETROLEUM CORP.
SQZ SERICA ENERGY
DNO DNO ASA CLASS A
XOM EXXON MOBIL CORPORATION
BP. BP P.L.C.
MAY MELBANA ENERGY LIMITED
DGOC DIVERSIFIED GAS & OIL
BLOE BLOCK ENERGY
KOS KOSMOS ENERGY LTD.
ANGS ANGUS ENERGY
OKEA OKEA
BWE BW ENERGY
CRCL CORCEL
HBR HARBOUR ENERGY PLC
ADX ADX ENERGY LTD
TNZ TENAZ ENERGY CORP
PLSR PULSAR HELIUM INC.
- Hybridan Team
Hybridan Small Cap Feast: 06 November 2025
* A corporate client of Hybridan LLP. ** Potential means Intention to Float (ITF) or similar announcement has been made. ***Arranged by type of listing and date of announcement. ****Alphabetically arranged and priced on Share Price and Market Capitalisation during the time of writing on the day of Publication. Dish of the Day Admissions: None Delistings: None What’s baking in the oven? Potential** Initial Public Offerings:*** 24th October: Sterling Digital, the bitcoin min...
- Daniel Slater
Corcel (CRCL LN) - Environmental clearances gained for Angola seismic ...
Corcel has announced that is has now secured the full environmental approvals and executed the service contract for its upcoming 2D seismic programme on KON-16. This is all positive progress towards planned exploration drilling in late 2026.
- Stephane Foucaud
Corcel plc (AIM: CRCL): Seismic and drilling permits received
• Corcel has received final ministerial approval for the Environmental Impact Assessment, granting full environmental clearance to proceed with seismic acquisition activities within the KON-16 Block. • The approved licence encompasses both 2D seismic acquisition and future exploration drilling operations. • The seismic programme is underpinned by £3.85 mm in proceeds from the accelerated exercise of warrants. Additional funding is anticipated upon completion of the farm-in agreement with Sintana...
- Daniel Slater
- Daniel Slater
- Stephane Foucaud
AUCTUS ON FRIDAY - 03/10/2025
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price of £0.40 per share: Dry hole at Mateguafa Oeste but three more prospects to drill – The Mateguafa Oeste was water wet. Our ReNAV for the well was £0.09 per share. We did not carry any production from this prospect in our cash flow forecast. The rig will now move to Mateguafa Attic where the Mateguafa 5 vertical well will be drilled in November. This is a low risk well that is a step out to M...
TLW TULLOW OIL PLC
TXP TOUCHSTONE EXPLORATION
ENI ENI S.P.A.
PXT PAREX RESOURCES INC.
ENW ENWELL ENERGY
SQZ SERICA ENERGY
MATD PETRO MATAD
XOM EXXON MOBIL CORPORATION
BP. BP P.L.C.
ZPHR ZEPHYR ENERGY
JSE JADESTONE ENERGY
CRCL CORCEL
AXL. ARROW EXPLORATION LTD
J4V VAR ENERGI ASA
UKOG UK OIL & GAS PLC
PLSR PULSAR HELIUM INC.
- Stephane Foucaud
AUCTUS ON FRIDAY - 26/09/2025
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Favourable court ruling allows Welchau testing operations to resume – The Upper Austrian State Administrative Court has rejected objections from environmental activist groups regarding drilling and testing at Welchau. The court confirmed that Environmental Clearances were issued in full compliance with applicable regulations. ADX is now authorized to resume operations at the Welch...
- Stephane Foucaud
Corcel plc (AIM: CRCL): Insiders and large shareholders exercise warra...
• Charlestown Energy Partners, certain of the company's directors, and other private investors have exercised 50 million warrants at an exercise price of 0.50 pence per share, representing a ~40% premium to the share price prior to the announcement. • These warrants formed part of a 125 million warrant transfer from SNPC (Shandong New Powder COSMO) to the participating shareholders. SNPC has retained 41.5 million warrants. • In exchange, the expiry date of the unexercised 116.5 million warrants...
- Stephane Foucaud
AUCTUS ON FRIDAY - 12/09/2025
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Deep dive into Italy – ADX has released further details on its C.R 150.AU permit; located in shallow waters offshore western Sicily, ~50 km from a potential onshore tie-in to the TransMed pipeline, which transports Algerian gas to Europe. While initial efforts centred on the Nilde oil field, ADX has shifted its strategic focus toward gas, reflecting the evidence of high quality ga...
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