reports
- Stephane Foucaud
AUCTUS ON FRIDAY - 21/03/2025
AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LN)C; Target price of £0.10 per share: Significant power transaction highlights the value of the S. Africa electricity trading business – Etana Energy, the South African electricity trading business (49% held by Chariot) has arranged a US$55 mm guarantee finance facility through Standard Bank and secured an equity investment of up to US$20 mm from Norfund for working capital. In exchange, Standard Bank and Norfund will ho...
EGY VAALCO ENERGY INC.
TXP TOUCHSTONE EXPLORATION
GENL GENEL ENERGY
ENI ENI S.P.A.
ALVOF ALVOPETRO ENERGY LTD
PCL PANCONTINENTAL OIL & GAS N.L.
SEI. SINTANA ENERGY
CHAR CHARIOT OIL & GAS
7777 3-D MATRIX
GKP GULF KEYSTONE PETROLEUM LTD.
DGOC DIVERSIFIED GAS & OIL
ENOG ENERGEAN PLC
BLOE BLOCK ENERGY
AOI AFRICA OIL CORP
SENX SERINUS ENERGY
JSE JADESTONE ENERGY
TAL PETROTAL (TAL)
SOUC SOUTHERN ENERGY CORP
CEQ CRITERIUM ENERGY LTD.
PRD PREDATOR OIL & GAS HOLDINGS PLC
CDR CONDOR ENERGIES INC
- Stephane Foucaud
Sintana Energy Inc. (TSX-V: SEI): Woodside does not farm-into PEL 87 –...
• Woodside has elected not to exercise its option to farm into PEL 87. While this decision is disappointing and likely to result in some delays until Pancontinental secures a new partner, it likely reflects Woodside’s increased focus on LNG and its recent reduction in exploration spending. The company is currently advancing three capital-intensive development projects: Scarborough LNG (7.3 Tcf, ~80% complete), Trion Oil (20% complete), and the recently acquired Louisiana LNG expansion. • PEL 87 ...
- Stephane Foucaud
AUCTUS ON FRIDAY - 28/02/2025
AUCTUS PUBLICATIONS ________________________________________ Condor Energies (CDR CN)C; Target price of C$5.60 per share: 2nd success at bypassed carbonate formation intervals boosts production to >12 mboe/d - Condor has successfully perforated and brought online bypassed carbonate formations at a second well. As a result, production has increased from 11,455 boe/d reported last week to an average of 12,004 boe/d over the last six days. Using a combination of legacy data and reprocessed 3-D seis...
GTE GRAN TIERRA ENERGY
GPRK GEOPARK
CVX CHEVRON CORPORATION
ENI ENI S.P.A.
ALVOF ALVOPETRO ENERGY LTD
SEI. SINTANA ENERGY
CASP CASPIAN SUNRISE
PEN PANORO ENERGY ASA
SQZ SERICA ENERGY
AOI AFRICA OIL CORP
KOS KOSMOS ENERGY LTD.
ORC/B ORCA EXPLORATION GROUP CL B
JSE JADESTONE ENERGY
CRCL CORCEL
PXEN PROSPEX ENERGY PLC
ATOM ATOME ENERGY PLC
IGAS IGAS ENERGY PLC
J4V VAR ENERGI ASA
BP. BP PLC
HEVI HELIUM EVOLUTION
CDR INC. (HEVI)
CNECN CONDOR ENERGIES INC
CANACOL
- Stephane Foucaud
Sintana Energy Inc. (TSX-V: SEI): New material discovery at Mopane
• The Mopane-3X exploration well has encountered columns of light oil and gas-condensates across the AVO-10 interval, as well as light oil columns at AVO-13 and at a deeper sand. • The sandstone reservoirs are of excellent quality, with high permeability and porosity, and higher-than-estimated pressure. The oil has low viscosity, with minimal CO2 and H2S content. • This new discovery has multiple positive implications. It could open up a new development area in the southeast of PEL-83, with incr...
- Stephane Foucaud
AUCTUS ON FRIDAY - 14/02/2025
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: New acreage in Austria increases prospect inventory with a focus on low risk, shallow gas - ADX’s acreage in Austria has been modified to include additional near-term, low-risk gas prospects, as well as high-impact, higher-risk opportunities. One focus of the 2025 program is to drill shallow, low-risk, high initial production gas prospects that can be rapidly put into production. ...
- Stephane Foucaud
New Zealand Energy Corp. (TSX-V: NZ): Tariki-5A flow constrained by li...
• Tariki-5A has been put on production at a stable rate of 1 mmcf/d plus 25-30 bbl/d of condensate. This is less than anticipated (2-5.5 mmcf/d during clean-up with deliverability estimates of ~12 mmcf/d based on wellhead data) due to liquid loading in the tubing and difficulties in managing liquid slugging at Waihapa after ~30 km of pipeline. NZE is considering remediation operations to reduce the amount of liquid production, which could increase wellhead pressure and potentially gas production...
- Stephane Foucaud
AUCTUS ON FRIDAY - 17/01/2025
AUCTUS PUBLICATIONS ________________________________________ Corcel (CRCL LN)C; Target price of 1.00p per share: Initiating Coverage - Corcel is a ~£6 mm market cap AIM-listed E&P company focused on Portuguese-speaking Angola and Brazil. It offers a unique exposure to the prolific Kwanza onshore basin in Angola which reopened to international companies in 2021. Corcel is also building a portfolio of mature onshore producing assets in Brazil. The key asset in Angola is the KON-16 licence, which C...
FP TOTAL SE
EQNR EQUINOR ASA
GPRK GEOPARK
MSMN MOSMAN OIL AND GAS
OMV OMV AG
PXT PAREX RESOURCES INC.
REP REPSOL SA
SEI. SINTANA ENERGY
DNO DNO ASA CLASS A
MATD PETRO MATAD
XOM EXXON MOBIL CORPORATION
ANGS ANGUS ENERGY
OKEA OKEA
BWE BW ENERGY
CRCL CORCEL
TAL PETROTAL (TAL)
SEAPT NO SEACREST PETROLEO BERMUDA - SEAPT NO
PLSR PULSAR HELIUM INC.
- Stephane Foucaud
Sintana Energy Inc. (TSX-V: SEI): Kapana-1X uncommercial but Chevron e...
• The Kapana 1-X well on PEL-90 did not encounter commercial hydrocarbons. • The rig is likely to be demobilized, but the well’s results have increased confidence in the block. Chevron has indicated that it anticipates further exploration in Namibia. • Sintana was carried for this well, but the company will fund its share of future capex on PEL-90. Assuming drilling costs of US$100-150 mm for a new well, this suggests a net capex exposure of approximately US$5-7 mm per well, net to Sintana’s 4.9...
- Stephane Foucaud
AUCTUS ON FRIDAY - 10/01/2025
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/ CN)C; Target price of £0.80 per share: Flow rate in line with expectations at AB-1. Two more appraisal wells in January - The AB-1 (Alberta Llanos) exploration well is now on production at an oil rate of 658 bbl/d gross (329 bbl/d net) with 49% water cut from 62 feet of net pay in the Ubaque. The IP rate is in line with the expectations set out in the company’s September corporate presentation (321 bbl/d net)...
ALVOF ALVOPETRO ENERGY LTD
SEI. SINTANA ENERGY
TRP TOWER RESOURCES PLC
VLE VALEURA ENERGY INC.
SQZ SERICA ENERGY
DGOC DIVERSIFIED GAS & OIL
ZPHR ZEPHYR ENERGY
CORO CORO ENERGY
AXL. ARROW EXPLORATION LTD
TAL PETROTAL (TAL)
KIST KISTOS PLC
PNOR PETRONOR E&P LTD
SHELL ROYAL DUTCH SHELL
PLSR PULSAR HELIUM INC.
- Stephane Foucaud
Sintana Energy Inc. (TSX-V: SEI): Mopane-2A encounters gas condensate ...
• The Mopane-2A well at PEL-83 found a hydrocarbon column of gas-condensate in AVO-3 with a thin net pay in the reservoir sweet spot. Encountering AVO-3 at Mopane-2A confirms the lateral extent of the reservoir. The thin net pay is in line with the geological model. The presence of condensate in high quality reservoir with minimal CO2 and no H2S is another positive. • The well also discovered a hydrocarbon column of light oil in a smaller high quality reservoir, AVO-4. While AVO-4 had been mappe...
- Stephane Foucaud
New Zealand Energy Corp. (TSX-V: NZ): Tariki-5A well test performance ...
• Tariki-5A has been perforated over the top 8 m of the 20 m of gas bearing sands intersected. Gas sales have commenced. • The well initially flowed at estimated rates increasing from 2 to 5.5 mmcf/d during clean-up. • The full well testing program has only just commenced. While a maximum flow rate test has not yet been carried out, the Tariki-5A well is estimated to be able to deliver ~12 mmcf/d of gas and associated condensate to market through the existing Cheal infrastructure based on well...
- Stephane Foucaud
AUCTUS ON FRIDAY - 20/12/2024
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price of £0.80 per share: Material discovery at Alberta Llanos - The AB-1 (Alberta Llanos) exploration well has encountered four main hydrocarbon bearing reservoirs with a total true vertical depth of 121 feet, including the C7, Gacheta, Guadalupe, and Ubaque formations. The main pre-drill targets were the C7 and the Ubaque formations. The Gacheta and Guadalupe formations carried a higher risk, an...
TLW TULLOW OIL PLC
OMV OMV AG
ALVOF ALVOPETRO ENERGY LTD
SEI. SINTANA ENERGY
CAD CADOGAN PETROLEUM
ENQ ENQUEST PLC
DNO DNO ASA CLASS A
FEC FRONTERA ENERGY CORP
ZPHR ZEPHYR ENERGY
KOS KOSMOS ENERGY LTD.
ORC/B ORCA EXPLORATION GROUP CL B
OKEA OKEA
TAO TAG OIL LTD
AXL. ARROW EXPLORATION LTD
PXEN PROSPEX ENERGY PLC
J4V VAR ENERGI ASA
BP. BP PLC
CDR CONDOR ENERGIES INC
AST ASCENT RESOURCES PLC
- Stephane Foucaud
Sintana Energy Inc. (TSX-V: SEI): More drilling in Namibia
• QatarEnergy has acquired 27.5% WI in PEL 90 from Chevron. While no details have been disclosed, it's noteworthy that QatarEnergy is a partner of TotalEnergies on the adjacent PEL 56 license, where the Venus discovery is located. QatarEnergy is also a partner of Shell on PEL 39. • We view QatarEnergy’s decision to enter PEL 90 as a very positive sign regarding the block's prospectivity. • A rig is mobilizing to PEL 90 to drill the Kapana-1X well in the second half of December. • This is an ult...
- Stephane Foucaud
AUCTUS ON FRIDAY - 13/12/2024
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Reflections on Welchau - Three intervals in the Reifling formation (1324 m-1340 m, 1346 m-1351 m and 1358 m-1382 m MD) were perforated but only limited inflow was determined. No fluid could reach the surface after the well was shut in. Sampling of the well indicated only completion brine (not reservoir fluid) and fine solid particles of unknown origin. ADX will analyse the particl...
EGY VAALCO ENERGY INC.
A2PAZ7 TETHYS PETROLEUM
TXP TOUCHSTONE EXPLORATION
PXT PAREX RESOURCES INC.
SEI. SINTANA ENERGY
PANR PANTHEON RESOURCES
SQZ SERICA ENERGY
GKP GULF KEYSTONE PETROLEUM LTD.
FEC FRONTERA ENERGY CORP
ORCA ORCADIAN ENERGY PLC
SEAPT NO SEACREST PETROLEO BERMUDA - SEAPT NO
ADX ADX ENERGY LTD
J4V VAR ENERGI ASA
MCFNF MCF ENERGY LTD
CDR CONDOR ENERGIES INC
PLSR PULSAR HELIUM INC.
- Stephane Foucaud
Sintana Energy Inc. (TSX-V: SEI): More drilling in Namibia
• The Mopane-2A appraisal well (the 4th well to be drilled at Mopane) has been spud. The purpose of the well is to appraise the AVO-3 that had been discovered at Mopane-2X located ~8km to the northeast. • This appraisal well has been prioritized following the Mopane-1A success. A positive result could help to firm-up the farm-out price for the block. • AVO-1 (encountered at Mopane-1X and Mopane-2X ~8 km to the west) has already been appraised by Mopane-1A (~8 km to the southwest). • The next we...
- Stephane Foucaud
AUCTUS ON FRIDAY - 06/12/2024
AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LN)C; Target price of £0.08 per share: US$100 mm guarantees highlight the value of the South Africa energy trading business - British International Investment (BII) and GuarantCo have announced a US$100 mm guarantee finance facility for Etana Energy, the South African electricity trading platform which is owned and was co-founded by Chariot (49%) and H1 Holdings (51%). Etana is one of the few companies holding an electric...
GPRK GEOPARK
A2PAZ7 TETHYS PETROLEUM
GENL GENEL ENERGY
CUE CUE ENERGY RESOURCES
SEI. SINTANA ENERGY
CHAR CHARIOT OIL & GAS
PEN PANORO ENERGY ASA
SAVE SAVANNAH ENERGY
SQZ SERICA ENERGY
DNO DNO ASA CLASS A
PHAR PHAROS ENERGY
CNE CANACOL ENERGY LTD
ZPHR ZEPHYR ENERGY
SDX SDX ENERGY
TAL PETROTAL (TAL)
ORCA ORCADIAN ENERGY PLC
SHELL ROYAL DUTCH SHELL
- Stephane Foucaud
New Zealand Energy Corp. (TSX-V: NZ): Better than expected results at ...
• The Tariki-5A well has encountered a gas column of at least 8 metres out of a gross Tariki sand of ~60 m. An additional column of a further 8 to 12 m may be confirmed upon completion of log analyses. • This is above company expectations. The gas water contact appears to be deeper than expected from the offset well Tariki-1A, and this has a positive impact on the gas volume remaining in place. • Pending further details, we have increased our expected recoverable volumes by 20% to ~0.85 mmboe n...
- Stephane Foucaud
Sintana Energy Inc. (TSX-V: SEI): Positive well results at Mopane
• Galp has announced that the Mopane-1A appraisal well (the third well to be drilled at Mopane) has encountered light oil and gas-condensate in high quality reservoir-bearing sands, once again indicating good porosities, high permeabilities, and high pressures, as well as low oil viscosity characteristics with minimum CO2 and no H2S concentrations. • While limited information is available, we view the very good reservoir characteristics as a positive. In addition, we note the reference to the pr...
- 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.
- Stephane Foucaud
Sintana Energy Inc. (TSX-V: SEI): Pure play on the world’s exploration...
• ~11 high impact appraisal/exploration wells will be drilled on various licences in Namibia over the coming months. This is very material and is expected to attract the attention of investors. Sintana provides exposure to three out of the six licences with high impact drilling. • We believe that the recent weakness of Sintana’s share price offers an opportunity with an asymmetric risk/reward profile. • We estimate that Sintana’s current share price trades at a discount to the market value of i...
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.