AUCTUS ON FRIDAY - 06/06/2025

Criterium Energy (CEQ CN)C; Target price of C$0.35 per share: On track for first gas in 1Q26 – 1Q25 production of 988 boe/d had been previously reported. Criterium held ~C$1.6 mm in cash at the end of 1Q25. The company has reduced its accounts payable by ~C$3.5 mm while inventory + amounts receivable were flat vs. YE24. Operations are expected to commence at North MGH in June. Four wells were shut-in in 2014 due to high GOR. Criterium is looking to re-open some of the wells in the area. No resou...

Latam Chart Book - 3 June 2025 - Lucror Analytics

The LatAm Chart Book features relative-value charts and bond tables by country.

Lucror Analytics - Morning Views Latam

In today's Morning Views publication we comment on developments of the following high yield issuers: CBC, Frontera Energy, Minerva, Petrobras, Azul, Metalsa, CEMEX

Criterium Energy Ltd (TSX-V: CEQ): On track for first gas in 1Q26

AUCTUS ON FRIDAY - 30/05/2025

Arrow Exploration (AXL LN/CN)C; Target price of £0.70 per share: Gearing-up for acquisitions? – 1Q25 production was 4,085 boe/d with no horizontal wells drilled in the period. RCE is more mature than CN and while no drilling has taken place at RCE, the decline rate between 4Q24 and 1Q25 was only ~5%. 1Q25 Production was constrained by increased water production preventing the company increasing the speed of the pumps at some of its producing wells. The increased amount of produced water increase...

Valeura Energy (TSX: VLE): Potential reserves additions following appr...

• Valeura has completed an 8 well drilling programme on Block B5/27. • Two wells at Jasmine C encountered more oil pay than expected. • Two development wells at Ban Yen A are now on production and appraised new reservoirs, adding drilling locations and will likely contribute to reserves when next evaluated at year-end. One of the wells (BYA-35ST1) encountered an oil pay 100% larger than expected. The third well was an appraisal well. It encountered an oil-water contact deeper than expected but t...

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Progroup, Atalian, Loxam, Salt, United Group, Altice France (SFR), TeamSystem, Altice International, VodafoneZiggo, Tele Columbus, Kiloutou, Techem, THOM Europe, EnQuest Plc, Grunenthal, Cirsa, SIG plc, Derichebourg, Forgital, Vallourec, Mahle, CABB, Stena AB, Bertrand Franchise, Canpack, Benteler International, Azelis, Motel One, Grupo Antolin

Lucror Analytics - Morning Views Latam

In today's Morning Views publication we comment on developments of the following high yield issuers: Frontera Energy, Marfrig, Nexa

Europe HY Trade Book - May 2025 - Lucror Analytics

The Europe HY Trade Book for May 2025 includes current trade recommendations drawn from our European HY coverage universe, along with relative-value scatter plots and tables by industry. We also discuss the US tariff situation and key related impacts.

AUCTUS ON FRIDAY - 23/05/2025

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Adding four low risk drill-ready shallow gas prospects to start drilling by YE25 – ADX has now matured 13 shallow gas prospects across the ADX-AT-I and ADX-AT-II licence areas in Austria. The play is proven, supported by historical discoveries within the basin. Nearby historical discoveries in the area have produced 220 bcf to date. The prospects benefit from AVO anomalies, enhanc...

Enquest Plc - ESG Report - Lucror Analytics

ADX Energy (ASX: ADX): Adding four low risk drill-ready shallow gas pr...

• ADX has now matured 13 shallow gas prospects across the ADX-AT-I and ADX-AT-II licence areas in Austria. The play is proven, supported by historical discoveries within the basin. Nearby historical discoveries in the area have produced 220 bcf to date. • The prospects benefit from AVO anomalies, enhancing confidence in their potential. Four of these prospects, with a best-case recoverable resource estimate of 16.1 bcf, are drill-ready. ADX holds a 100% interest and is currently in discussions w...

Lucror Analytics - Morning Views Latam

In today's Morning Views publication we comment on developments of the following high yield issuers: Frontera Energy, GOL, SierraCol, BRF, Marfrig, Votorantim, Avianca, Nexa, Ambipar, Cosan SA, Tupy

AUCTUS ON FRIDAY - 16/05/2025

AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LN)C: Recovering 75% WI of licences in Morocco – Energean has returned its Moroccan offshore interests to Chariot. As a result, Chariot now holds 75% in the Lixus Offshore and Rissana Offshore licences. Condor Energies (CDR CN)C; Target price of C$5.90 per share: Acquiring a LNG facility for Kazakhstan to deliver first LNG sale in 2Q26 – 1Q25 production in Uzbekistan was 11,179 boe/d (+6% vs. production in 4Q24). Condor ...

Valeura Energy (TSX: VLE): FID at Wassana adds 8.6 mmbbl 2P reserves

• The 1Q25 production and cash position at the end of March were in line with previous indications. However the adjusted working capital was ~US$15 mm higher than cash given an oil inventory increase of 0.89 mmbbl. • Valeura has taken FID at Wassana (G10/48 licence), resulting in the conversion of 8.6 mmbbl 2C contingent resources into 2P reserves. Wassana’s 2P reserves now stand at 20.5 mmbbl, with the field expected to produce 10 mbbl/d in 2H27, representing almost 45% of FY24 production. • T...

Sintana Energy Inc. (TSX-V: SEI): Adding high impact exploration onsho...

• Sintana has agreed terms to acquire a 5% net interest in KON-16 onshore Angola from Corcel for US$2.5 mm. In addition, Sintana will receive a 2.5% net profit interest on 71.5% of KON-16 until reaching US$50 mm, after which the net profit interest reduces to 1.5%. • There are multiple post-salt (shallow) and pre-salt (deeper) prospects that were highlighted by 2010 2D seismic. The pre-salt prospects are analogous to what is being developed offshore with significantly lower cost. Corcel, plans t...

Criterium Energy Ltd (TSX-V: CEQ): Stepping on the gas

• The staged development of gas discoveries at Tungkal is the primary driver of near-term growth. Assuming flat oil production, bringing just two gas discoveries online could enable Criterium to triple output to ~3 mboe/d and triple 2P reserves by early 2027 • The first discovery to be developed, SE MGH (15 bcf 2C resources), is expected to see resource conversion to reserves in 2025. In early 3Q25, the existing well—previously tested at 8 mmcf/d—will be re-tested, with initial production of 5-...

Lucror Analytics - Morning Views Latam

In today's Morning Views publication we comment on developments of the following high yield issuers: Frontera Energy, Canacol, TGS, CSN, Aeromexico, GOL, Suzano, Rumo, Braskem

AUCTUS ON FRIDAY - 09/05/2025

AUCTUS PUBLICATIONS ________________________________________ Panoro Energy (PEN NO)C; Target price of NOK49 per share: ~12 mbbl/d in 1Q25. Re-iterating FY25 guidance – 1Q25 production was ~12 mbbl/d, including 6,841 bbl/d in Gabon, 3,661 bbl/d in Equatorial Guinea and 1,492 bbl/d in Tunisia. Production in Gabon and Equatorial Guinea was previously reported by BW Energy and Kosmos Energy. Equatorial Guinea output was temporarily impacted by unplanned downtime at the Ceiba Cluster, but operations ...

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 05/08/2025