reports
- Stephane Foucaud
Panoro Energy ASA (OSE: PEN): More than meets the eyes at EG-23
• 3Q26 production and net debt (end-September) have already been reported. The company has reiterated FY25 capex guidance of ~US$40 mm. • Gross production in Gabon remains on track to return to ~40 mbbl/d in 2026. • 3D seismic campaign across the Niosi, Guduma, and Dussafu licenses has commenced and is expected to run for ~two months. The program could also yield additional insights into undeveloped discoveries at Dussafu. • On EG-23, seismic data is being reprocessed to remap seven existing dis...
- ABGSC Energy Research
- Daniel Vårdal Haugland
- John Olaisen
- Lars Trongaard Brattli
- Martin Mauseth
- Njål Kleiven
- Stian Wibstad
- ABGSC Oil & Oil Services Research
- Herman Caspersen
- John Olaisen
- Martin Mauseth
- ABGSC Energy Research
- Daniel Vårdal Haugland
- John Olaisen
- Lars Trongaard Brattli
- Martin Mauseth
- Njål Kleiven
- Stian Wibstad
- ABGSC Energy Research
- Daniel Vårdal Haugland
- John Olaisen
- Lars Trongaard Brattli
- Martin Mauseth
- Njål Kleiven
- Stian Wibstad
- 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.
- Stephane Foucaud
Panoro Energy ASA (OSE: PEN): Returning to growth during 2026
• Panoro reported average production of 8,811 bbl/d in 3Q25, in line with prior disclosures from BW Energy (Gabon) and Kosmos Energy (Equatorial Guinea). Gabon volumes were impacted by a three-week planned maintenance, while EG production was constrained by mechanical failures on subsea pumps at Ceiba. • The first pump was restored in early 4Q25, with the second expected online later this quarter and the third in 1Q26. EG production is anticipated to normalize by 1Q26. • Reflecting recent downti...
- ABGSC Energy Research
- Daniel Vårdal Haugland
- John Olaisen
- Lars Trongaard Brattli
- Martin Mauseth
- Njål Kleiven
- Stian Wibstad
- ABGSC Oil & Oil Services Research
- Herman Caspersen
- John Olaisen
- Martin Mauseth
- ABGSC Energy Research
- Daniel Vårdal Haugland
- John Olaisen
- Lars Trongaard Brattli
- Martin Mauseth
- Njål Kleiven
- Stian Wibstad
BONHR BONHEUR ASA
SOC SUBSEA 7 S.A.
PEN PANORO ENERGY ASA
E36 SEABIRD EXPLORATION LTD.
TGS TGS-NOPEC GEOPHYSICAL COMPANY ASA
AKSOO AKER SOLUTIONS ASA
A2QKGG HEXAGON PURUS
VWS VESTAS WIND SYSTEMS
BORR BORR DRILLING LTD
VAR VAR ENERGI ASA
OTL ODFJELL TECHNOLOGY LTD
TOM TOMRA SYSTEMS ASA
PLSV PARATUS ENERGY SERVICES LTD.
- ABGSC Energy Research
- Daniel Vårdal Haugland
- John Olaisen
- Lars Trongaard Brattli
- Martin Mauseth
- Njål Kleiven
- Stian Wibstad
EQNR EQUINOR ASA
BONHR BONHEUR ASA
NOR NORWEGIAN ENERGY CO. ASA
ORSTED ORSTED
AFK ARENDALS FOSSEKOMPANI
SOC SUBSEA 7 S.A.
PEN PANORO ENERGY ASA
SSO SCATEC ASA
DNO DNO ASA CLASS A
IPCO INTERNATIONAL PETROLEUM CORP
OKEA OKEA
BWE BW ENERGY
VAR VAR ENERGI ASA
SPM SAIPEM S.P.A.
DOFG DOF GROUP ASA
- ABGSC Oil & Oil Services Research
- John Olaisen
- Lars Trongaard Brattli
- Martin Mauseth
- Njål Kleiven
EQNR EQUINOR ASA
AKAST AKASTOR ASA
KOG KONGSBERG GRUPPEN ASA
SOC SUBSEA 7 S.A.
PEN PANORO ENERGY ASA
ARCHERO ARCHER
AKER AKER ASA CLASS A
DNO DNO ASA CLASS A
TGS TGS-NOPEC GEOPHYSICAL COMPANY ASA
ODL ODFJELL DRILLING
AKSOO AKER SOLUTIONS ASA
BWO BW OFFSHORE LIMITED
PRS PROSAFE
OKEA OKEA
BWE BW ENERGY
VAR VAR ENERGI ASA
SEAPT-NO SEACREST PETROLEO
DOFG DOF GROUP ASA
- ABGSC Oil & Oil Services Research
- John Olaisen
- Martin Mauseth
- ABGSC Energy Research
- Daniel Vårdal Haugland
- John Olaisen
- Lars Trongaard Brattli
- Martin Mauseth
- Njål Kleiven
- Stian Wibstad
- ABGSC Energy Research
- Daniel Vårdal Haugland
- John Olaisen
- Lars Trongaard Brattli
- Njål Kleiven
- Oliver Dunvold
- Stian Wibstad
- ABGSC Oil & Oil Services Research
- John Olaisen
- Oliver Dunvold
- Stephane Foucaud
AUCTUS ON FRIDAY - 15/08/2025
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Formal permit award in Italy adds gas exploration upside – ADX has been formally awarded the C.R150.AU offshore exploration permit in Sicily. The permit has an initial term of 6 years, with the option for 2 additional 3-year renewal periods. In the event of a commercial discovery, an exploitation concession may be granted for 20 years, extendable by a further 10 years. ADX is now ...
- Stephane Foucaud
Panoro Energy ASA (OSE: PEN): Large cash build-up expected in 2H25
• 2Q25 production of 11,064 bbl/d had already been reported. The production was impacted by unplanned downtime at Ceiba (~5,000 bbl/d gross or ~700 bbl/d net to Panoro’s 14.25% WI). Remedial works are expected to restore production in 4Q25. • In 2026, Panoro will drill four development wells at Hibiscus and Hibiscus South on the Dussafu licence, targeting first oil in 2H26. This programme is designed to restore gross plateau production to ~ 40,000 bbl/d. With the rig already on site, Panoro coul...
- ABGSC Energy Research
- Daniel Vårdal Haugland
- John Olaisen
- Lars Trongaard Brattli
- Njål Kleiven
- Oliver Dunvold
- Stian Wibstad
- ABGSC Oil & Oil Services Research
- John Olaisen
- Oliver Dunvold
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