reports
- Stephane Foucaud
AUCTUS ON FRIDAY - 04/07/2025
AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LN)C; Under review: Potential demerger – The management of Chariot is considering splitting the company in two entities, one focusing on upstream oil and gas and the other on renewable power. The latter will also house the hydrogen and water assets. Pending further details, we are placing the company under review. New Zealand Energy (NZ CN)C: Operating update in New Zealand. Equity raise – The copper Moki-2 well has bee...
- Daniel Slater
Enwell Energy (ENW LN) - Q2 update - Corporate
Enwell has released its Q2 update, reporting an ongoing strong cash holding as the company continues to work to resolve the regulatory issues around its MEX-GOL/SV and VAS licences in order to resume production from these, and also to advance planning for development of the SC licence.
- Stephane Foucaud
AUCTUS ON FRIDAY - 13/06/2025
AUCTUS PUBLICATIONS ________________________________________ Arrow Energy (AXL LN/CN)C; Target price of £0.70 per share: Share buyback programme – Arrow has announced a share buyback programme for up to £2.7 mm worth of shares, representing 5% of the company’s public float. This highlights the strength of the business and the cashflow. Pharos Energy (PHAR LN)C; Target price of £0.45 per share: Licence extension in Vietnam – The exploration period on Blocks 125 & 126 has been extended by two ye...
- Daniel Slater
Enwell Energy (ENW LN) - Full year 2024 results - Corporate
Enwell has released its full year 2024 results. Production remains suspended at the company’s assets onshore Ukraine as a result of local regulatory actions, but these and the wider portfolio continue to contain significant potential for production, cash flows, and growth once these issues are worked through. In the meantime, the company has a very substantial cash position to fall back on, which itself can support new asset activity as and when appropriate.
- Stephane Foucaud
AUCTUS ON FRIDAY - 11/04/2025
AUCTUS PUBLICATIONS Arrow Exploration (AXL LN/ CN)C; Target price of £0.70 per share: Stable production, 10% cash increase – Net production is currently exceeding 4.5 mboe/d, consistent with January levels. The CN HZ10 well, located in the northern area of the CN field, commenced production on 31 March, delivering 1,183 bbl/d of oil (591 bbl/d net to Arrow) with a 21% water cut from the Ubaque reservoir. The well is in the process of cleaning up, with the water cut gradually decreasing. The CN ...
OMV OMV AG
REP REPSOL SA
ENW ENWELL ENERGY
SEI. SINTANA ENERGY
VLE VALEURA ENERGY INC.
BP. BP P.L.C.
ZPHR ZEPHYR ENERGY
TAO TAG OIL LTD
AXL. ARROW EXPLORATION LTD
TAL PETROTAL (TAL)
KIST KISTOS PLC
SOUC SOUTHERN ENERGY CORP
PNOR PETRONOR E&P LTD
J4V VAR ENERGI ASA
HEVI HELIUM EVOLUTION
SHELL INC. (HEVI)
CORO ROYAL DUTCH SHELL
CORO ENERGY PLC
- Daniel Slater
Enwell Energy (ENW LN) - Q1 update - Corporate
Enwell has released its Q1 2025 operational update, reporting production numbers for the period (affected by ongoing licence suspensions) and continuing to show a substantial cash holding. The regulatory backdrop in Ukraine remains challenging, but Enwell’s assets continue to offer significant upside potential as and when production is able to re-start and material investment is brought forward.
- Daniel Slater
Enwell Energy (ENW LN) - VAS license suspended - Corporate
Enwell yesterday announced that its VAS license (the smaller of its two assets) has been suspended, as a result of a court appeal by the Ukraine regulator, and production has been shut down. The larger MEX-GOL/SV license was also suspended recently, with production remaining shut down there too. Both licences remaining subject to a full court appeal hearing, likely over the coming months.
- Stephane Foucaud
AUCTUS ON FRIDAY - 24/01/2025
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Historic permit award in Italy opens a new growth area - ADX has been offered and accepted the “d 363 C.R-.AX” permit in the Sicily Channel, offshore Italy, covering a maximum area of 346 km2. ADX applied for the permit in 2018, but the moratorium on awarding new exploration blocks in Italy was only lifted last year. ADX will become a licensed operator in Italy as well as Austria ...
GPRK GEOPARK
EGY VAALCO ENERGY INC.
SEY STERLING ENERGY PLC
ENW ENWELL ENERGY
IOX INTEROIL EXPLORATION & PRODUCTION ASA
PANR PANTHEON RESOURCES
ENQ ENQUEST PLC
SAVE SAVANNAH ENERGY
SQZ SERICA ENERGY
PHAR PHAROS ENERGY
NTOG NOSTRA TERRA OIL & GAS COMPANY
GKP GULF KEYSTONE PETROLEUM LTD.
ENOG ENERGEAN PLC
ZPHR ZEPHYR ENERGY
OKEA OKEA
JSE JADESTONE ENERGY
HBR HARBOUR ENERGY PLC
CEQ CRITERIUM ENERGY LTD.
PRD PREDATOR OIL & GAS HOLDINGS PLC
ADX ADX ENERGY LTD
J4V VAR ENERGI ASA
SHELL ROYAL DUTCH SHELL
HEX HELIX EXPLORATION PLC
- Daniel Slater
- Daniel Slater
Enwell Energy (ENW LN) - Q4 update - Corporate
Enwell has released its Q4 2024 operational update, showing ongoing production alongside an increased cash holding as CAPEX spend continues to be cautious given the regulatory backdrop in the country. Enwell’s assets and cash availability continue to give the company significant growth potential as and when material new investment is brought forward.
- Stephane Foucaud
AUCTUS ON FRIDAY - 29/11/2024
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of NOK51 per share: Water inflow from a small interval in Welchau deeper formation. Continuing well test up hole – Two intervals in the Steinalm formation (1452.5 m-1463.5 m and 1474.5 m-1480 m MD) were tested at a stable rate (natural flow) of 240-290 bbl/d of drilling mud, likely contaminated formation water and some oil traces. Gas was initially observed at surface. While the achieved flow rate hig...
GALP GALP ENERGIA SGPS SA CLASS B
TLW TULLOW OIL PLC
GTE GRAN TIERRA ENERGY
GPRK GEOPARK
RKH ROCKHOPPER EXPLORATION
A2PAZ7 TETHYS PETROLEUM
OMV OMV AG
REP REPSOL SA
ENW ENWELL ENERGY
VLE VALEURA ENERGY INC.
SQZ SERICA ENERGY
PMG PARKMEAD GROUP
ENOG ENERGEAN PLC
SENX SERINUS ENERGY
AXL. ARROW EXPLORATION LTD
HBR HARBOUR ENERGY PLC
SOUC SOUTHERN ENERGY CORP
CEQ CRITERIUM ENERGY LTD.
ADX ADX ENERGY LTD
BCE BEACON ENERGY PLC
CDR CONDOR ENERGIES INC
- Daniel Slater
Enwell Energy (ENW LN) - MEX-GOL/SV and VAS licence suspensions lifted...
Enwell has announced that the suspensions of its MEX-GOL/SV and VAS licences onshore Ukraine have been lifted, allowing operations and production, including revenue collection, to recommence. This is part of a wider legal process initiated by Enwell in Ukraine against the original suspension order, and this legal process now continues.
- Stephane Foucaud
AUCTUS ON FRIDAY - 22/11/2024
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C: Portion of deeper target at Welchau flows water on test – Two intervals (total of ~16 m) in the Steinalm formation. were tested at a stable rate (natural flow) of 240-290 bbl/d of drilling mud, likely contaminated formation water and some oil traces. Gas was initially observed at surface. While the achieved flow rate highlights the high permeability of the natural fractures, the absence of hydrocarbons is disappoi...
ENW ENWELL ENERGY
SEI. SINTANA ENERGY
PANR PANTHEON RESOURCES
PEN PANORO ENERGY ASA
ENQ ENQUEST PLC
XOM EXXON MOBIL CORPORATION
CRCL CORCEL
ATOM ATOME ENERGY PLC
ITH ITHACA ENERGY PLC
NOG NOSTRUM OIL & GAS PLC
SEAPT NO SEACREST PETROLEO BERMUDA - SEAPT NO
ADX ADX ENERGY LTD
CDR CONDOR ENERGIES INC
PLSR PULSAR HELIUM INC.
- Daniel Slater
Enwell Energy (ENW LN) - MEX-GOL/SV and VAS licenses suspended - Corpo...
Enwell has announced that, as a result of a Ukraine presidential decree issued in October, the company’s producing MEX-GOL/SV and VAS licenses have both been suspended. As a consequence, Enwell has ceased all work on these licences, and this includes production operations. As such, Enwell currently has no production volumes.
- Daniel Slater
Enwell Energy (ENW LN) - H1 2024 results
Enwell has released its H1 2024 results. These report another period of positive cash flow as Enwell has continued to produce in Ukraine but also kept a rein on CAPEX. Going forward, post the recent lifting of the suspension of the VAS and SC licences, we look for greater operational activity from Enwell (though we also note an element of risk for the main MEX-GOL/SV asset as a result of recent new legislation, discussed below), which would help support production and drive recovery to higher le...
- Stephane Foucaud
AUCTUS ON FRIDAY - 19/07/2024
Condor Energies (CDR CN)C: Signing first LNG framework agreement in Kazakhstan – Condor has signed a first LNG Framework Agreement for the utilization of LNG to fuel Kazakhstan’s rail locomotives. The agreement was also signed by Kazakhstan Temir Zholy (KTZ), the national railway operator of Kazakhstan and Wabtec Corporation, a U.S. based locomotive manufacturer with existing facilities in Kazakhstan. KTZ and Wabtec previously signed a memorandum of understanding which includes modernization wor...
- Daniel Slater
Enwell Energy (ENW LN) - Q2 update
Enwell has released its Q2 update, reporting ongoing production and cash flow generation from its Ukraine asset position, with the potential for production to ramp up going forward as VAS is brought back online and wider work programmes are pursued over 2024 and into 2025.
- Stephane Foucaud
AUCTUS ON FRIDAY - 28/06/2024
AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LN)C: target price of £0.50 per share: Key step towards developing future gas to industry business onshore Morocco – Chariot has signed Heads of Terms with Vivo Energy for the future offtake from the Loukos onshore licence where natural gas has been encountered at Dartois. Up to 3 mmcf/d would be initially sold to the CNG midstream business under a long-term gas sales agreement. Vivo intends to design, fund, construct and...
EQNR EQUINOR ASA
A2PAZ7 TETHYS PETROLEUM
ENI ENI S.P.A.
AOI. AFRICA OIL
ENW ENWELL ENERGY
CHAR CHARIOT OIL & GAS
VLE VALEURA ENERGY INC.
SQZ SERICA ENERGY
MATD PETRO MATAD
MAY MELBANA ENERGY LIMITED
ZPHR ZEPHYR ENERGY
LBE LONGBOAT ENERGY PLC
CEQ CRITERIUM ENERGY LTD.
J4V VAR ENERGI ASA
BCE BEACON ENERGY PLC
- Daniel Slater
Enwell Energy (ENW LN) - VAS and SC licence suspensions lifted
Enwell announced yesterday afternoon that the suspensions for its VAS and SC licences, in place since May 2023, have now been lifted. This is very good news for the company, allowing production and operational work programmes to recommence on the two licences, while also having positive implications for work programmes on the wider portfolio
- Daniel Slater
Enwell Energy (ENW LN) - Full year 2023 results
Enwell has released its full year 2023 results. These show another year of cash flows from the company’s significant Ukraine production position, which has continued to perform despite the challenging situation in the country. Going forward we expect ongoing production and cash flows, with a broader CAPEX programme remaining in readiness for an improvement in the wider situation in Ukraine.
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