reports
- Steffen Evjen
Mixed risk for dividend cuts
Following the recent sharp oil price drop to ~USD70/bbl, we see increased investor concerns about the robustness of shareholder distributions. Historically, disappointments related to dividends and/or buybacks have triggered meaningful negative share-price reactions. For our large-cap NCS coverage, we believe oil prices would have to move below USD60/bbl for any negative surprises to unfold for Aker BP and Equinor, as both have strong balance sheets, enabling dividend flexibility. On the other h...
- Steffen Evjen
- Stephane Foucaud
Tethys Oil AB (SSE: TETY): Take-over offer at SEK58.70 per share
• Tethys has received a cash offer from Roc Oil to acquire the company at SEK58.70 per share. • The offer is recommended by the independent bid committee of the board of directors of Tethys. • Shareholders representing 16.86% of the outstanding shares have irrevocably undertaken to accept the offer. • The offer represents a premium of almost 90% to Tethys’ share price on the day prior to the announcement and has a 90% acceptance condition. • The acceptance period for the offer is expected to ...
- Steffen Evjen
Weekly news, topics & discussion
This week, we published an update on DNO, seeing significant value potential from its Norwegian portfolio. As one of the most successful NCS exploration companies in recent years, the company has discovered net resources of ~135mmboe. In other news, we upgraded Aker BP to BUY (HOLD), viewing its recent underperformance as an attractive entry point. Also, a gas market update with Equinor left us slightly more bullish with regards to the near- and long-term gas market outlook.
- Stephane Foucaud
AUCTUS ON FRIDAY -136/09/2024
AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LN)C; Target price £0.40 per share: Anchois-3 encounters gas in the appraisal targets but one of the exploration target is dry – The Anchois-3 well has 3 objectives. While the initial pilot hole encountered the targeted reservoirs at the Anchois Footwall prospect, they were interpreted as water wet. Our ReNAV for this prospect was £0.03/sh. The well was sidetracked in the B sands which are the main appraisal targets. Prel...
Genel Energy PLC: Director/PDMR Shareholding
Genel Energy PLC (GENL) Genel Energy PLC: Director/PDMR Shareholding 12-Sep-2024 / 16:08 GMT/BST 12 September 2024 Genel Energy plc NOTIFICATION AND PUBLIC DISCLOSURE OF A TRANSACTION BY A PERSON DISCHARGING MANAGERIAL RESPONSIBILITIES On 12 September 2024, Yetik K. Mert notified the Company that on 6 September 2024, he purchased 20,500 Ordinary Shares in Genel Energy plc at a price of £0.737695 per share. Yetik K. Mert is an Independent Non-Executive Director of Genel Energy plc. The notification below is made in accordance with the requirements of the EU Market Abuse ...
- Steffen Evjen
DNO (Buy, TP: NOK16.00) - Significant NCS value potential
With a solid NCS exploration track record, DNO has discovered net resources of over 135mmboe. We estimate a NCS production CAGR of ~10% throughout this decade, with additional upside potential if discoveries are sanctioned. Despite the Iraq-Turkey pipeline uncertainty, we expect sufficient cash flow to cover dividends until 2030, even if oil is sold locally at mid-USD30/bbl. We reiterate our BUY and have raised our target price to NOK16 (12)
Genel Energy PLC: Director / PDMR Shareholding
Genel Energy PLC (GENL) Genel Energy PLC: Director / PDMR Shareholding 10-Sep-2024 / 15:00 GMT/BST 10 September 2024 Genel Energy plc (the ‘Company’) 2024 Awards - Notification of Transactions by Persons Discharging Managerial Responsibilities (‘PDMRs’) Pursuant to the notification obligations under UK Market Abuse Regulations Article 19.1 the Company granted an award over its ordinary shares of 10 pence each under the 2021 Performance Share Plan (‘PSP’) on 10 September 2024 to Luke Clements as set out below. The PSP award granted to Luke Clements was made in...
- Steffen Evjen
Genel Energy: 1 director
A director at Genel Energy bought 81,000 shares at 76p and the significance rating of the trade was 63/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showin...
- Steffen Evjen
Weekly news, topics & discussion
This week, the Aker BP-operated Tyrving field commenced production ahead of the planned start-up in October. In other news, Vår Energi completed the divestment in the Norne area to DNO; adjusting for cash flow between the effective transaction date on 1 January and close on 30 August, DNO paid a net cash consideration of ~USD24m. Also, BlueNord reported August preliminary production of 27.0kboed. Adjusting for the Harald fiel
Genel Energy PLC: Director / PDMR Shareholding
Genel Energy PLC (GENL) Genel Energy PLC: Director / PDMR Shareholding 06-Sep-2024 / 15:49 GMT/BST 6 September 2024 Genel Energy plc NOTIFICATION AND PUBLIC DISCLOSURE OF A TRANSACTION BY A PERSON DISCHARGING MANAGERIAL RESPONSIBILITIES On 6 September 2024, Yetik K. Mert notified the Company that on 6 September 2024, he purchased 81,000 Ordinary Shares in Genel Energy plc at a price of £0.75495 per share. Yetik K. Mert is an Independent Non-Executive Director of Genel Energy plc. The notification below is made in accordance with the requirements of the EU Market Abuse ...
- Stephane Foucaud
PetroTal Corp (AIM: PTAL): Potential reserve addition
• The VS1 sand has produced ~320 bbl/d of 18.6 API oil during a brief test of a sidetrack of Well 20H. The oil gravity is similar to that found in the VS2 reservoir. • The VS1 reservoir has not been developed to date as the company has only focused on the VS2 that has much better permeability. • The initial oil in place in the VS1 reservoir estimated in the 2P case is ~84 mmbbl. Assuming 20% recovery factor would add ~17 mmbbl additional 2P reserves. Note that this is a long term goal as it wi...
Canacol Energy Ltd. Announces the Closing of a US $75 Million Senior S...
Canacol Energy Ltd. Announces the Closing of a US $75 Million Senior Secured Term Loan CALGARY, Alberta, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Canacol Energy Ltd. (“Canacol” or the “Corporation”) (TSX: CNE; OTCQX: CNNEF; BVC: CNEC) is pleased to announce that, on September 3, 2024, it entered into a committed 24 month US $75 million senior secured term loan facility (the “Facility”) with Macquarie Group (“Macquarie”). The initial draw on funding is expected to be US $50 million, with a further commitment of US $25 million available for a twelve month period should certain production metrics...
- Daniel Slater
- Steffen Evjen
Genel Energy PLC: Appointment of Independent Non-Executive Director
Genel Energy PLC (GENL) Genel Energy PLC: Appointment of Independent Non-Executive Director 02-Sep-2024 / 07:00 GMT/BST 2 September 2024 Genel Energy plc Appointment of Independent Non-Executive Director Genel Energy plc ('Genel') announces the appointment of Sir Dominick Chilcott as an Independent Non-Executive Director, with effect from 1 September 2024. Sir Dominick Chilcott brings a wealth of expertise from his distinguished career as a diplomat over four decades at the UK’s Foreign and Commonwealth Office. Sir Dominick most recently served as the British Ambass...
DNO Bulks Up in Norway with Acquisitions, Exploration Success
DNO Bulks Up in Norway with Acquisitions, Exploration Success Oslo, 2 September 2024 – DNO ASA, the Norwegian oil and gas operator, today announced the completion of the acquisition of stakes in five oil and gas fields, including an operatorship, in the Norne area in the Norwegian Sea from Vår Energi ASA. Following closing, DNO’s wholly-owned subsidiary DNO Norge AS holds interests in all producing and under development fields in the greater Norne area, making it a core area for the Company on the Norwegian Continental Shelf. The transaction includes interests in four producing fields, No...
- Stephane Foucaud
AUCTUS ON FRIDAY - 30/08/2024
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price £0.70 per share: Key horizontal wells outperforms expectations – Arrow has now drilled 3 horizontal wells in Carrizales Norte. The flow rates of the wells are exceeding our expectations. The first CN horizontal well (CNB HZ-1) is being restricted to a current oil flow rate of 2,090 bbl/d with approximately 41% water cut. The average oil production for the first 60 days of production was 2,37...
- Steffen Evjen
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.