reports
- Stephane Foucaud
AUCTUS ON FRIDAY - 08/03/2024
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...
TLW TULLOW OIL PLC
TXP TOUCHSTONE EXPLORATION
AOI. AFRICA OIL
ALVOF ALVOPETRO ENERGY LTD
EOG. ECO ATLANTIC OIL & GAS
BPV BAHAMAS PETROLEUM CO. PLC
PEN PANORO ENERGY ASA
SNM SHAMARAN PETROLEUM CORP.
SQZ SERICA ENERGY
FEC FRONTERA ENERGY CORP
BLOE BLOCK ENERGY
ZPHR ZEPHYR ENERGY
HE1 HELIUM ONE GLOBAL
HBR HARBOUR ENERGY PLC
HHR HARTSHEAD RESOURCES NL
PLSR CN PULSAR HELIUM INC.
IVZ INVICTUS ENERGY
- Stephane Foucaud
Auctus on Friday - 08/12/2023
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Adding further exploration prospects in FY24 - ADX has farmed out a 50% interest in an exploration area within the ADX AT I licence to MND in return for a A$0.73 mm back costs payment plus A$7.34 mm funding in exploration drilling. The exploration area farmed-out to MND includes the LICHT and IRR gas prospects. These prospects are close to infrastructure and considered low risk. O...
AOI. AFRICA OIL
ALVOF ALVOPETRO ENERGY LTD
CHAR CHARIOT OIL & GAS
SQZ SERICA ENERGY
PHAR PHAROS ENERGY
ENOG ENERGEAN PLC
JSE JADESTONE ENERGY
KIST KISTOS PLC
WDS WOODSIDE PETROLEUM LTD
ORCA ORCADIAN ENERGY PLC
HHR HARTSHEAD RESOURCES NL
LBE LONGBOAT ENERGY PLC
SEAPT NO SEACREST PETROLEO BERMUDA - SEAPT NO
SEY AFENTRA (PREVIOUSLY
PLSR CN STERLING ENERGY)
ADX PULSAR HELIUM INC.
IVZ ADX ENERGY LTD
SYN INVICTUS ENERGY
SYNERGIA ENERGY LTD
- Stephane Foucaud
Auctus on Friday - 25/08/2023
AUCTUS PUBLICATIONS ________________________________________ Calima Energy (CE1 AU)C; target price of A$0.50 per share: Drilling programme update – A new 3 well drilling programme will commence in mid-September and will include 3 Pisces wells. The wells are expected to reach peak production in December post fracture stimulation. This will allow the company to maintain production ~4,000 boe/d. This is in line with previous indications. Hartshead Resources (HHR AU): We are discontinuing coverage ...
- Stephane Foucaud
- Stephane Foucaud
Auctus on Friday - 23/06/2023
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN)C; target price of £0.50 per share: CN-1 well in production at 1.1 mbbl/d from the C7 sands – The C7 formation (~26 feet of net oil pay) in the Carrizales Norte-1 well (CN-1) is now in production at a rate of 1.1 mbbl/d (550 bbl/d net to Arrow). The well produced very light oil (33.5 deg API) and is on pump set at the lowest setting. During the flow test, the sands flowed at a peak rate of 1,272 bbl/d. During ...
- Stephane Foucaud
Auctus on Friday - 26/05/2023
AUCTUS PUBLICATIONS ________________________________________ Hartshead Resources (HHR AU)C; target price of A$0.18 per share: On tack for first gas in 2025 – The FDP for Phase I is nearing completion and will be submitted in two weeks. The project continues to be expected to reach first gas in 2025. Panoro Energy (PEN NO)C; target price of NOK50 per share: Executing on plans. Declaring a ~US$3 mm quarterly dividend – 1Q23 production of 6,320 bbl/d had already been reported and net debt of US$25...
- Stephane Foucaud
EGY US/LN, HHR AU, GPRK US, PTAL LN/TAL CN, TETY SS, AET LN, ALV CN, B...
AUCTUS PUBLICATIONS ________________________________________ GeoPark (GPRK US)C; target price of US$25 per share: Protecting shareholder returns as lower capex offsets delayed production – 1Q23 production of 36,578 boe/d had already been reported. The Indico 6 and Indico 7 wells in the CPO-5 block in Colombia are now expected to return to production in July (rather than May) when the definitive surface facilities are completed. The facilities are 60-65% complete and there is improved confidence ...
EGY VAALCO ENERGY INC.
A2PAZ7 TETHYS PETROLEUM
CNE. CANACOL ENERGY LTD
TXP TOUCHSTONE EXPLORATION
GENL GENEL ENERGY
PXT PAREX RESOURCES INC.
ALVOF ALVOPETRO ENERGY LTD
ENQ ENQUEST PLC
RBD REABOLD RESOURCES
TOU TLOU ENERGY
SNM SHAMARAN PETROLEUM CORP.
DNO DNO ASA CLASS A
FEC FRONTERA ENERGY CORP
ECHO ECHO ENERGY
DGOC DIVERSIFIED GAS & OIL
SENX SERINUS ENERGY
KOS KOSMOS ENERGY LTD.
OXC FORZA PETROLEUM
TAL PETROTAL (TAL)
HBR HARBOUR ENERGY PLC
HHR HARTSHEAD RESOURCES NL
SEY AFENTRA (PREVIOUSLY
STERLING ENERGY)
- Stephane Foucaud
Auctus on Friday - 05/05/2023
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C: Target price of A$0.100 per share: 1Q23 in line with expectations. Growing production at Anshof – 1Q23 production was 299 boe/d including 88 bbl/d for Anshof. In March net production from Anshof has increased to 94 bbl/d. Overall net production in March including the Zistersdorf & Gaiselberg fields (Z&G) was 336 boe/d. Additional site storage is planned to be installed at the Anshof-3 well location in June which ...
GTE GRAN TIERRA ENERGY
CNE. CANACOL ENERGY LTD
CNE CAIRN ENERGY PLC
REP REPSOL SA
AOI. AFRICA OIL
ALVOF ALVOPETRO ENERGY LTD
ENW ENWELL ENERGY
ADX ADX ENERGY
CHAR CHARIOT OIL & GAS
PEN PANORO ENERGY ASA
IOG INDEPENDENT OIL & GAS
VLE VALEURA ENERGY INC.
FEC FRONTERA ENERGY CORP
BP. BP P.L.C.
CE1 CALIMA ENERGY
OKEA OKEA
AXL. ARROW EXPLORATION LTD
RDSA ROYAL DUTCH SHELL PLC
HHR HARTSHEAD RESOURCES NL
LBE LONGBOAT ENERGY PLC
- Stephane Foucaud
Auctus on Friday - 28/04/2023
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C: Target price of A$0.100 per share: 1Q23 update – 1Q23 production in Austria was 299 boe/d. The company held A$3.41 mm in cash at the end of March. Criterium Energy (CEQ CN)C: On track for near term acquisition – The FY22 financials were in line with our expectations. The company held C$3.7 mm in cash at YE22. Criterium has also filed the notice of intention to file a short form prospectus. This could be an indica...
FP TOTAL SE
SEPL SEPLAT PETROLEUM DEVELOPMENT COMPANY
EOG EUROPA OIL & GAS (HOLDINGS) PLC
TLW TULLOW OIL PLC
HES HESS CORPORATION
OMV OMV AG
CNE CAIRN ENERGY PLC
TXP TOUCHSTONE EXPLORATION
ENI ENI S.P.A.
REP REPSOL SA
ADX ADX ENERGY
BPV BAHAMAS PETROLEUM CO. PLC
PEN PANORO ENERGY ASA
RBD REABOLD RESOURCES
UKOG UK OIL & GAS PLC
UOG UNITED OIL & GAS
GKP GULF KEYSTONE PETROLEUM LTD.
OKEA OKEA
JSE JADESTONE ENERGY
SDX SDX ENERGY
TAL PETROTAL (TAL)
HBR HARBOUR ENERGY PLC
TRIN TRINITY EXPLORATION & PRODUCTION
HHR HARTSHEAD RESOURCES NL
CEQ CRITERIUM ENERGY LTD.
NOG NOSTRUM OIL & GAS PLC
- Stephane Foucaud
Auctus on Friday - 06/04/2023
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN) C; Target price of £0.45 per share: The RCE-5 well encounters one of the largest net pay to date in the RCE field – The RCE-5 well encountered 90 feet of net oil pay across the Carbonera C7 (36 feet) and the Lower Gacheta sands (54 feet). This is the third successful well in the 2023 campaign. RCE-5 encountered the largest net pay in the current programme. The well is expected to add production and reserves a...
CNE. CANACOL ENERGY LTD
HUR HURRICANE ENERGY PLC
ALVOF ALVOPETRO ENERGY LTD
PEN PANORO ENERGY ASA
ENQ ENQUEST PLC
JOG JERSEY OIL AND GAS
VLE VALEURA ENERGY INC.
SQZ SERICA ENERGY
UOG UNITED OIL & GAS
SENX SERINUS ENERGY
AXL. ARROW EXPLORATION LTD
I3E I3 ENERGY
RDSA ROYAL DUTCH SHELL PLC
TCF TRILLION ENERGY INTERNATIONAL INC. (TCF)
HHR HARTSHEAD RESOURCES NL
- Stephane Foucaud
Hartshead Resources NL (ASX: HHR): Delivering a re-rating farm-in tran...
• Hartshead is farming out 60% WI of its UK assets to RockRose Energy for a combination of cash (US$34.4 mm/A$52.9 mm) and net free carry (US$61.8 mm/A$95 mm) for Phase I. A further US$5.9 mm cash payment is contingent on the NSTA approval of the FDP for the Phase II Lovelace or Hodgkin. RockRose currently produces ~27 mboe/d in the UK North Sea. • The fact that a proportion of the proceeds is in cash (US$34.4 mm/A$52.9 mm) allows Hartshead to directly fund a larger share of capex and capture th...
- Stephane Foucaud
Auctus on Friday - 24/03/2023
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN) C; Target price of £0.45 per share: Good flow rate at RCE-4 – The RCE-4 well has been put in production. It has produced at a rate of 728 bbl/d (364 bbl/d net to Arrow) of 28.5 API oil with a 1% water cut from the C7-A and C7 Stringer zones over the last 24 hours. This is a similar result as at RCE-3 (24 h flow rate of 968 bbl/d gross/484 bbl/d net). As was the case at RCE-3, the RCE-4 well is also flowing na...
RKH ROCKHOPPER EXPLORATION
A2PAZ7 TETHYS PETROLEUM
CNE. CANACOL ENERGY LTD
CNE CAIRN ENERGY PLC
TXP TOUCHSTONE EXPLORATION
GENL GENEL ENERGY
ENI ENI S.P.A.
GREAT EASTERN ENERGY CORP. LTD. GDR
SAVE SAVANNAH ENERGY
VLE VALEURA ENERGY INC.
PHAR PHAROS ENERGY
GKP GULF KEYSTONE PETROLEUM LTD.
CE1 CALIMA ENERGY
ENOG ENERGEAN PLC
ZPHR ZEPHYR ENERGY
OKEA OKEA
AXL. ARROW EXPLORATION LTD
TCF TRILLION ENERGY INTERNATIONAL INC. (TCF)
HHR HARTSHEAD RESOURCES NL
LBE LONGBOAT ENERGY PLC
NOG NOSTRUM OIL & GAS PLC
- Stephane Foucaud
Auctus on Friday - 17/03/2023
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU) C; Target price of A$0.10 per share: Drilling news flow. Production growth. Value. – 2023 is expected to be a busy and transformational year for ADX. The company plans to grow gross production at Anshof (4.2 mmbbl net 2P reserves) to almost 1,000 bbl/d with two new wells by YE23. At that level, ADX can generate US$13 mm operating cashflow per year (after tax). This represents ~65% of the company’s market cap. The An...
GENL GENEL ENERGY
HUR HURRICANE ENERGY PLC
ADX ADX ENERGY
RBD REABOLD RESOURCES
TET TRILOGY ENERGY CORP
DNO DNO ASA CLASS A
TETY TETHYS OIL AB
JSE JADESTONE ENERGY
AXL. ARROW EXPLORATION LTD
OXC FORZA PETROLEUM
HHR HARTSHEAD RESOURCES NL
MEN MOLECULAR ENERGIES PLC
NOG NOSTRUM OIL & GAS PLC
- Stephane Foucaud
Hartshead Resources NL (ASX: HHR): Re-iterating key guidances: industr...
• Hartshead published its half year financial report for the six month period ending 31/12/2022. The cash position as at the end of December had already been reported and there are no surprises in the financials. • Hartshead continues to hope to announce a farm-out partner over the coming weeks. This would provide clarity on the funding of the project as well as well as an external industry valuation for the assets. • FID for the Phase I field development could be taken by mid 2023. • The com...
- Stephane Foucaud
Auctus on Friday - 24/02/2023
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C: Target price of £0.45 per share: Positive drilling results at RCE-3 - RCE-3, the first well of the FY23 10 well drilling programme, has encountered 58 feet of net oil pay across seven hydrocarbon bearing intervals. This includes 19 feet in the Carbonera C7 (three intervals) and 39 feet in the Lower Gacheta (four intervals). The initial focus is expected to be the C7 zone (as it was for the RCE-2 and RCS-...
- Stephane Foucaud
CEQ CN, GPRK US, HHR AU, TETY SS, AKERBP NO, APA US, ALV CN, BP LN, CN...
AUCTUS PUBLICATIONS ________________________________________ Criterium Energy (CEQ CN) C; Resources report in Indonesia – The Lengo gas field is estimated to hold 359 bcf (134 bcf net to Criterium). The contingent resources for the Lengo field are contingent on signing a Gas Sales Agreement (GSA) and securing financing and a final investment decision (FID). A Heads of Agreement was signed in August 2022 with a credible gas offtaker and the partners are now progressing to a formal GSA. It is ant...
FP TOTAL SE
EQNR EQUINOR ASA
GPRK GEOPARK
APA.. APA CORP.
A2PAZ7 TETHYS PETROLEUM
CNE. CANACOL ENERGY LTD
ALVOF ALVOPETRO ENERGY LTD
IOG INDEPENDENT OIL & GAS
SQZ SERICA ENERGY
DNO DNO ASA CLASS A
DELT DELTIC ENERGY
MAHA A MAHA ENERGY
FEC FRONTERA ENERGY CORP
BP. BP P.L.C.
DGOC DIVERSIFIED GAS & OIL
HHR HARTSHEAD RESOURCES NL
- Stephane Foucaud
Auctus on Friday - 03/02/2023
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN)C: Target price of £0.45 per share: On track for a very busy 2023 – Arrow is about to embark on a 10 well drilling programme that could add between 2,800 and 4,800 boe/d net production (before decline and in a success case) to the existing constrained production base of ~1,800 boe/d. Over January, production was ~1,800 boe/d with short term outages due to weather at Ombu and Pepper. This compares with produc...
FP TOTAL SE
OMV OMV AG
MUR MURPHY OIL CORPORATION
PXT PAREX RESOURCES INC.
CASP CASPIAN SUNRISE
CHAR CHARIOT OIL & GAS
PEN PANORO ENERGY ASA
VLE VALEURA ENERGY INC.
MATD PETRO MATAD
GKP GULF KEYSTONE PETROLEUM LTD.
FEC FRONTERA ENERGY CORP
DGOC DIVERSIFIED GAS & OIL
CE1 CALIMA ENERGY
JSE JADESTONE ENERGY
AXL. ARROW EXPLORATION LTD
TAL PETROTAL (TAL)
RDSA ROYAL DUTCH SHELL PLC
TRIN TRINITY EXPLORATION & PRODUCTION
TCF TRILLION ENERGY INTERNATIONAL INC. (TCF)
HHR HARTSHEAD RESOURCES NL
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