reports
Serica Energy: 1 director
A director at Serica Energy bought 306,597 shares at 139p and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly sh...
- Stephane Foucaud
AUCTUS ON FRIDAY - 05/07/2024
AUCTUS PUBLICATIONS ________________________________________ Panoro Energy (PEN NO)C; Target price of NOK52 per share: About to commence drilling in EG – The drilling rig has arrived in EG. The drilling campaign is about to commence. It will include two development wells plus an exploration well at the high impact Akeng Deep prospect. Serica Energy (SQZ LN)C: target price of £2.90 per share: RBL redetermination – Reflecting the increased reserves, the borrowing base has been increased from US$...
- 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
- Stephane Foucaud
Serica Energy Plc (AIM: SQZ): Operations on track. High net cash.
• 2023 production to date was 43,781 boe/d. very close to our expectations of 44.3 mboe/d. • Production in June at the Bruce Hub of 25,771 boe/d was particularly strong following the recent Light Well Intervention Vessel campaign. This partially offsets the low production in May at the Triton Hub following a trip of a compressor that shut down production for three weeks (the production at Triton has been restored since then). • A 90 day well intervention campaign at Bruce from mid-July is like...
- Stephane Foucaud
Serica Energy Plc (AIM: SQZ): Initiating Coverage
Serica Energy is a ~US800 mm market cap company with >40 mboe/d production and 140 mmboe of 2P reserves in the UK North Sea. The investment case is about value and generous shareholder distributions. The strategy is to maximize the value of two key producing hubs, depending on the UK’s tax policy, to develop a third one at Buchan Horst and to grow via M&A. Over the last 2 years, the share price has been negatively impacted by the reduction in UK gas prices and fiscal uncertainty. Serica’s divide...
- Daniel Slater
Jersey Oil & Gas (JOG LN) - Labour plans are not a showstopper for Buc...
The UK Labour party recently released its election manifesto, including additional detail on its plans for UK oil and gas fiscal terms. In our interpretation, these plans would represent a limited, though still significant, deterioration in fiscal terms, and, on confidence from the industry that these would be unlikely to change again, we believe incentives to invest in new projects remain.
- Stephane Foucaud
AUCTUS ON FRIDAY - 14/06/2024
AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LN) C: target price of £0.50 per share: High impact well offshore Morocco on track to spud in August – The FY23 financials were in line with our forecasts. The high impact Anchois East well is expected to spud in August. A drilling success could increase the size of Anchois to over 1 tcf (300 bcf net to Chariot). Our overall unrisked NAV for Anchois, including Anchois East Footwall and Anchois East North Flank, is £0.42 p...
- Stephane Foucaud
New Zealand Energy Corp. (TSX-V: NZ): Initiating Coverage
New Zealand Energy (NZE) is a ~US$10 mm market cap TSX listed company with ~1.6 mmboe of 2P reserves in mature fields onshore New Zealand. The story is about very material free cashflow. NZE is dividend oriented first and growth second. In late 2023, the newly elected New Zealand government commenced reversing historic anti-hydrocarbon regulations in response to an unexpected decline in domestic gas production and a spike in natural gas prices to >US$12/mcf. This coincided with NZE being re-capi...
- Daniel Slater
- Stephane Foucaud
AUCTUS ON FRIDAY - 24/05/2024
AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LN)C; target price of £0.50 per share: Drilling at the second well onshore Morocco has commenced – Chariot has started to drill the Dartois prospect onshore Morocco. The well is targeting a different reservoir system and trapping style than the Gaufrette prospect. The main target at Dartois is estimated to hold 12 bcf of gross prospective resources. Success would de-risk a total of 20 bcf of gross prospective resources (+...
GALP GALP ENERGIA SGPS SA CLASS B
GPRK GEOPARK
CVX CHEVRON CORPORATION
SEY STERLING ENERGY PLC
CHAR CHARIOT OIL & GAS
PEN PANORO ENERGY ASA
SNM SHAMARAN PETROLEUM CORP.
INDI INDUS GAS
UJO UNION JACK OIL
UOG UNITED OIL & GAS
ENOG ENERGEAN PLC
BLOE BLOCK ENERGY
TETY TETHYS OIL AB
TRIN TRINITY CAPITAL INC
ORCA ORCADIAN ENERGY PLC
CEQ CRITERIUM ENERGY LTD.
SEAPT NO SEACREST PETROLEO BERMUDA - SEAPT NO
PLSR CN PULSAR HELIUM INC.
- Daniel Slater
- Stephane Foucaud
AUCTUS ON FRIDAY - 03/05/2024
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.75 per share: Raising new equity to fund a high impact activity programme – ADX has raised A$13.5 mm of new equity priced at A$0.105 per share. One free-attaching option will be issued for evert two placement shares with an exercise price of A$0.15 per share and an expiry date of 08/05/2026. The proceeds from the raise will fund (1) the production testing of the 450 m gas column encountered at ...
GALP GALP ENERGIA SGPS SA CLASS B
GTE GRAN TIERRA ENERGY
EGY VAALCO ENERGY INC.
OMV OMV AG
TXP TOUCHSTONE EXPLORATION
SEI. SINTANA ENERGY
CHAR CHARIOT OIL & GAS
PEN PANORO ENERGY ASA
DELT DELTIC ENERGY
CNE CANACOL ENERGY LTD
ZPHR ZEPHYR ENERGY
JSE JADESTONE ENERGY
AXL. ARROW EXPLORATION LTD
I3E I3 ENERGY
TRIN TRINITY CAPITAL INC
CEQ CRITERIUM ENERGY LTD.
ADX ADX ENERGY LTD
BWEFF BW ENERGY LTD
LNGE LNG ENERGY GROUP CORP.
SHELL ROYAL DUTCH SHELL
- Stephane Foucaud
ADX Energy (ASX: ADX): Important step to unlock Sicily
• ADX has raised A$13.5 mm of new equity priced at A$0.105 per share. One free-attaching option will be issued for evert two placement shares with an exercise price of A$0.15 per share and an expiry date of 08/05/2026. • The proceeds from the raise will fund (1) the production testing of the 450 m gas column encountered at the Welchau exploration well (the well might also be deepened to assess the exploration potential below the current total depth of the well), (2) the residual drilling cost (n...
- Stephane Foucaud
Sintana Energy Inc. (TSX-V: SEI): Chevron farm-in rerates a new area i...
• Chevron is acquiring an 80% WI in PEL82 in the Walvis Basin, offshore north Namibia. As a result of the transaction NAMCOR and Custos’ 10% (each) residual interest will be carried. Sintana holds 49% of Custos. • The Orange Basin’s acreage is now in the hands of multiple large companies. As Chevron looks to expand its footprint in the country and explore other opportunities, the company could have been attracted by PEL82 because of the extensive G&G data available on the licence. PEL82 is the m...
- Stephane Foucaud
AUCTUS ON FRIDAY - 26/04/2024
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$1.00 per share: Important step to unlock Sicily – The Italian ministry has informed ADX that it will be granted the d 363C.R-.AX gas exploration permit in the Sicily Channel. In addition, the Regional Administrative Court of Rome has annulled the Plan for the Sustainable Energy Transition of Eligible Areas that prevented the oil redevelopment, appraisal and exploration activities on the licence. ...
FP TOTAL SE
EQNR EQUINOR ASA
GPRK GEOPARK
SOU SOUND ENERGY PLC
ENI ENI S.P.A.
REP REPSOL SA
SEI. SINTANA ENERGY
PEN PANORO ENERGY ASA
NOG NOSTRUM OIL & GAS PLC
SQZ SERICA ENERGY
ZPHR ZEPHYR ENERGY
OKEA OKEA
I3E I3 ENERGY
RHC ROYAL HELIUM LTD
TRIN TRINITY CAPITAL INC
SOUC SOUTHERN ENERGY CORP
ITH ITHACA ENERGY PLC
TCF TRILLION ENERGY INTERNATIONAL INC. (TCF)
SEAPT NO SEACREST PETROLEO BERMUDA - SEAPT NO
ADX ADX ENERGY LTD
J4V VAR ENERGI ASA
LNGE LNG ENERGY GROUP CORP.
- Stephane Foucaud
Sintana Energy Inc. (TSX-V: SEI): Reloading in Namibia
• Sintana is acquiring up to 67% of Giraffe Energy from Crown Energy. Giraffe holds 33% interest in PEL79, located inboard of blocks operated by BW Energy, Rhino Resources and Shell. NAMCOR, Namibia’s national company, holds 67% in the licence. • The success at PEL83 has proven that the shallower water area in the Orange basin can be very attractive. PEL79 is one of the last remaining licenses in the basin not operated by a private operator. There is already over 4,760 km of 2D seismic, 1137 k...
- Stephane Foucaud
ADX Energy (ASX: ADX): Important step to unlock Sicily
• The Italian ministry has informed ADX that it will be granted the d 363C.R-.AX gas exploration permit in the Sicily Channel. • In addition, the Regional Administrative Court of Rome has annulled the Plan for the Sustainable Energy Transition of Eligible Areas that prevented the oil redevelopment, appraisal and exploration activities on the licence. The annulment, if not contested, will result in reversion to the 2018 legislation enabling oil as well as gas within the d 363C.R .AX permit to be ...
- Stephane Foucaud
Sintana Energy Inc. (TSX-V: SEI): Constrained test rate of 14 mboe/d a...
• Multiple tests over multiple zones in multiple horizons were run at the Mopane-1X exploration well. The flows achieved during the well test reached the maximum allowed limits of 14 mboe/d. The flow rate was constrained by the size of the available surface facilities. • The AVO-1 horizon encountered at Mopane-1X and Mopane-2X are in the same pressure regime, suggesting that the entire area (8 km diameter) between the two wells is connected. Overall, in the Mopane complex alone, and before dril...
- Stephane Foucaud
AUCTUS ON FRIDAY - 12/04/2024
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$1.00 per share: Restarting production at Anshof – The Permanent Production Facility (PPF), with a capacity of 3,000 bbl/d of liquids, has been commissioned and the Anshof-3 well has recommenced production at a rate of 134 bbl/d with no water. The operation has been undertaken in line with expectations and within budget. The oil production rate at Anshof-3 is 16% above the rate prior to shut-in. A...
GPRK GEOPARK
CVX CHEVRON CORPORATION
OMV OMV AG
TXP TOUCHSTONE EXPLORATION
ENI ENI S.P.A.
PXT PAREX RESOURCES INC.
REP REPSOL SA
CASP CASPIAN SUNRISE
CHAR CHARIOT OIL & GAS
VLE VALEURA ENERGY INC.
JSE JADESTONE ENERGY
TAL PETROTAL (TAL)
PNOR PETRONOR E&P LTD
ADX ADX ENERGY LTD
J4V VAR ENERGI ASA
MAHA-A MAHA ENERGY AB
Hybridan Small Cap Feast - 10 April 2024
10th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: Change of Market: TheWorks (WRKS.L) a multi-channel value retailers of books, arts and crafts, stationery, toys and games, offering customers a differentiated propositio...
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