reports
- 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.
Condor Announces $10 Million Brokered Financing, With Participation by...
Condor Announces $10 Million Brokered Financing, With Participation by Lead Investors Eurasia Resource Value S.E. and Other Strategic Investors CALGARY, Alberta, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Condor Energies Inc. (“Condor” or the “Company”) (TSX: CDR) is pleased to announce that it has entered into an agreement with Research Capital Corporation, as the lead agent and sole bookrunner, on behalf of a syndicate of agents, including Auctus Advisors LLP and Canaccord Genuity Corp. (collectively, the “Agents”) in connection with a brokered private placement of common shares of the Company (...
- Sid Rajeev
Production Growth in Uzbek Gas Fields Signals Strong 2025 Outlook
CDR, one of our top picks, has gained 28% since we initiated coverage in early October 2024. In Q3-2024, production, revenue, and operating netback remained flat QoQ, aligning with our estimates. The company’s 20-year contract with the Government of Uzbekistan to operate eight gas fields provides stability, supported by regulated natural gas pricing. While EBITDA declined 4% QoQ due to higher G&A expenses, production techniques proved effective, offsetting natural decline rates. Current producti...
- Stephane Foucaud
AUCTUS ON FRIDAY - 15/11/2024
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price of £0.70 per share: 1.9 mbbl/d at latest CN well. Water disposal infrastructure operational. High net cash – The fifth horizontal well at Carrizales Norte (CNB HZ-6) is producing 1.9 mbbl/d of oil (0.95 mbbl/d net to Arrow) with a water cut of 31%. The well reached TD ~ one month ago. After ~1 month of production, CNB HZ-1 and CNB HZ-3 were also producing >30% water with ~1 mbbl/d oil produ...
CVX CHEVRON CORPORATION
EGY VAALCO ENERGY INC.
TXP TOUCHSTONE EXPLORATION
GENL GENEL ENERGY
ENI ENI S.P.A.
PEN PANORO ENERGY ASA
VLE VALEURA ENERGY INC.
MATD PETRO MATAD
NTOG NOSTRA TERRA OIL & GAS COMPANY
DGOC DIVERSIFIED GAS & OIL
AOI AFRICA OIL CORP
JSE JADESTONE ENERGY
BWE BW ENERGY
AXL. ARROW EXPLORATION LTD
TAL PETROTAL (TAL)
KIST KISTOS PLC
J4V VAR ENERGI ASA
SHELL ROYAL DUTCH SHELL
CDR CONDOR ENERGIES INC
- Stephane Foucaud
Condor Energies Inc. (TSX: CDR): Good quarter. Positive signals at hig...
• 3Q24 production was 10,010 boe/d; which is line with our expectations. • Production has increased to 10,706 bo/ed in the last seven days following low cost work-over activities. • With the expansion of the workover programme upon the arrival of the second work-over rig and the installation of additional in-field flowline water separation systems, we expect that this trend will continue. We forecast 10.8 mboe/d production in 4Q24 (that might be too conservative) increasing to ~13 mboe/d in 1Q2...
- Stephane Foucaud
AUCTUS ON FRIDAY - 01/11/2024
AUCTUS PUBLICATIONS ________________________________________ Condor Energies (CDR CN)C; Target price of C$5.80 per share: Another positive operating update – The work-overs of two new existing wells have added 441 boe/d after a combined 20 m of previously unperforated reservoir pay was accessed. The first well is producing 410 boe/d. It was previously shut-in. The second well is producing an extra 31 boe/d (+65%) and continues to clean-up. With a total cost of 100 wells on Condor’s fields includ...
FP TOTAL SE
EQNR EQUINOR ASA
SEPL SEPLAT PETROLEUM DEVELOPMENT COMPANY
GALP GALP ENERGIA SGPS SA CLASS B
EOG EUROPA OIL & GAS (HOLDINGS) PLC
EGY VAALCO ENERGY INC.
A2PAZ7 TETHYS PETROLEUM
ENI ENI S.P.A.
REP REPSOL SA
SEI. SINTANA ENERGY
PEN PANORO ENERGY ASA
TOU TLOU ENERGY
SQZ SERICA ENERGY
DELT DELTIC ENERGY
BP. BP P.L.C.
AOI AFRICA OIL CORP
OKEA OKEA
NOG NOSTRUM OIL & GAS PLC
SEAPT NO SEACREST PETROLEO BERMUDA - SEAPT NO
J4V VAR ENERGI ASA
SHELL ROYAL DUTCH SHELL
CDR CONDOR ENERGIES INC
- Stephane Foucaud
Condor Energies Inc. (TSX: CDR): Another positive operating update
• The work-overs of two new existing wells have added 441 boe/d after a combined 20 m of previously unperforated reservoir pay was accessed. • The first well is producing 410 boe/d. It was previously shut-in. The second well is producing an extra 31 boe/d (+65%) and continues to clean-up. • With a total cost of 100 wells on Condor’s fields including 39 shut-in wells that could be candidates for work-overs. The recent programme has highlighted bypassed gas pay and new gas intervals. This could r...
- Stephane Foucaud
AUCTUS ON FRIDAY - 25/10/2024
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price A$0.75 per share: Welchau test to start on 4th of November. LICHT well to reach main target next week – MCF Energy (the partner of ADX at Welchau) has announced that the well test at Welchau is expected to start on 4th of November. The initial well test results could also be available during November. The full well test operations will last much longer given that there are multiple zones to test. Our...
SEPL SEPLAT PETROLEUM DEVELOPMENT COMPANY
GPRK GEOPARK
ENI ENI S.P.A.
SEI. SINTANA ENERGY
KAR KAROON GAS AUSTRALIA LTD.
PEN PANORO ENERGY ASA
ENQ ENQUEST PLC
DELT DELTIC ENERGY
OKEA OKEA
BWE BW ENERGY
TAO TAG OIL LTD
PXOG PROSPEX OIL & GAS
LBE LONGBOAT ENERGY PLC
ADX ADX ENERGY LTD
J4V VAR ENERGI ASA
CDR CONDOR ENERGIES INC
- Stephane Foucaud
Condor Energies Inc. (TSX: CDR): Positive response from first workover...
• The initial result of the workover programme in Uzbekistan has delivered results exceeding the company’s expectations. • Seven made-in-Canada artificial lift systems (plunger lifts) have been installed in existing wells. The first three wells have been put on production at a much higher flow rates (+100-300%) than prior to the workovers. These three wells have added a cumulative 330 boe/d of incremental production. • The four other wells are currently being reactivated and expected to be pro...
- Sid Rajeev
A Gas Producer Pioneering LNG & Lithium Exploration in Central Asia – ...
Condor Energies Inc. (TSX: CDR/OTC: CNPRF) has made significant strides in Central Asia's energy sector. In early 2024, the company secured rights to eight natural gas fields in Uzbekistan, which currently produce 60,000 mcf/d, positioning Condor as a key gas producer in the region. Their 20-year contract with the Uzbek government includes plans to enhance production with Western technology, which has already led to a revenue surge in Q2-2024. Additionally, Condor is developing Kazakhstan’s fir...
- Stephane Foucaud
AUCTUS ON FRIDAY - 20/09/2024
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX CN)C; Target price A$0.75 per share: Production boost at Anshof in October – The ANS-2A sidetrack well has encountered a 6.5 m net vertical oil column in high quality Eocene-aged sandstone reservoir. The reservoir quality encountered at ANS-2A is consistent with ANS-2 (porosity and permeability ~20% higher than at ANS-3). The oil-water contact was encountered very close to the top of the water wet reservoir encountered ...
- Stephane Foucaud
Condor Energies Inc. (TSX: CDR): Further feed gas allocation in Kazakh...
• Condor has received a second natural gas allocation to feed the second modular LNG plant near the Kuryk Port on the Caspian Sea. • The natural gas allocation will allow the company to produce the energy equivalent of 565,000 litres of diesel per day (~400 t/d of LNG). • This is line with the company’s targets and is a key milestone in derisking the Kuryk plant. This second allocation more than doubles the overall natural gas allocation to the company. Overall, the combined LNG production from ...
- Stephane Foucaud
Condor Energies Inc. (TSX: CDR): Initiating Coverage
Condor Energies is a ~US$75 mm market cap TSX-listed company focused on low carbon and energy transition opportunities in Central Asia. Condor was transformed in 2024 by the acquisition of >10 mboe/d production of natural gas in Uzbekistan. The key value driver for the shares is the imminent sanction of Condor’s 1st liquefaction plant in Kazakhstan to convert low-cost natural gas into high value LNG to displace expensive diesel for rail and mining haul truck transportation. This is a scalable an...
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