Our daily digest of news from UK Small Caps 6th May 2025 @HybridanLLP * A corporate client of Hybridan LLP ** Potential means Intention to Float (ITF) has been announced, or it is a rumour ***Arranged by type of listing and date of announcement ****Alphabetically arranged Dish of the day Admissions: None Delistings: Advfn (AFN.L) left AIM and Vulcan Industries (VULC.PM) left AQSE. Whilst we were away, on Friday 2nd May, Brighton Pier...
AUCTUS PUBLICATIONS ________________________________________ Criterium Energy (CEQ CN) C: target price of C$0.35 per share: Re-iterating production guidance – 1Q24 production was 802 bbl/d with average realized price of US$82/bbl. This is in line with our expectations. Operating netbacks for the period stood at C$2.2 mm, also in line with our expectations. Operating cashflow before changes in working capital was (C$0.37 mm). With a large proportion of opex being fixed, growing production is very...
AUCTUS PUBLICATIONS ________________________________________ Panoro Energy (PEN NO)C; target price of NOK47 per share: Hibiscus South on stream at 5-6 mbbl/d – The Hibiscus South well has been put in production at a rate of 5-6 mbbl/d. Once stabilized this should take production at Dussafu to ~30 mbbl/d. Pulsar Helium (PLSR CN)C; target price of C$0.80 per share: High Helium concentration at high impact appraisal well – The Jetstream #1 appraisal well at the Topaz helium project in Minnesota en...
Eco (Atlantic) Oil & Gas Ltd.: Spud of Sapote-1 well, offshore Guyana TORONTO, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Eco (Atlantic) Oil & Gas Ltd. (“Eco,” “Eco Atlantic,” “Company,” or together with its subsidiaries, the “Group”) (AIM: ECO, TSX ‐ V: EOG), the oil and gas exploration company with licences in the proven oil province of Guyana and the highly prospective basins of Namibia, is pleased to announce that the Sapote-1 well on the Canje Block, offshore Guyana has been spudded. Eco was officially informed today by its investee company, JHI Associates Inc. ("JHI"), about the spudding of...
The Econet Group was plagued by a myriad of challenges in the period particularly limited access to foreign currency while highly exposed to foreign-currency denominated debt, disruptions in power supply and a hyperinflationary environment. The Group’s top-line surged 712.71% in 1H21 to $6.80bn up from $836.44mn registered in the same period prior year, falling behind annual inflation rate for the matching period, which stood at 761%. Revenue growth was also affected by enforced price ceiling...
Eco started trading on the TSX-V in 2011 with Namibian oil interests. 2016 saw the company teaming up with Tullow to acquire a licence in Guyana to explore similar basins in the margins on the other side of the Atlantic Ocean, ahead of becoming dual-listed in 2017. The shares began rising on Eco’s announcement to drill and climbed to 190p+ following the drilling of two discovery wells in Guyana which confirmed the prospectivity of the upper & lower Tertiary fairways. However, the stock price fel...
Although monetary and fiscal policy reforms are expected to yield results in the near to medium-term, the new policies have led to a depreciation of the local ‘RTGS’ dollar. Thus, we expect a significant drop in sales volumes and a squeeze in margins as the cost of raw material fluctuates from an unstable Zimbabwe dollar. Furthermore, corporate earnings might experience lower real run rates to FY 20, as already seen this year.
We maintain our Sell recommendation on Econet Zimbabwe with a target price of US$0.73 as we await confirmation of a potential separate listing of EcoCash. Should such a scenario arise we would advise investors to sell Econet MNO shares and buy EcoCash shares for a better Zimbabwe play.
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