reports
- Stephane Foucaud
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...
- Daniel Slater
Rockhopper Exploration (RKH LN) - Arbitration update and Sea Lion CPR ...
Rockhopper has announced the unsuccessful result of its most recent Italian arbitration process hearing, with the previous award to Rockhopper now having been annulled by the panel. Rockhopper will now look to claim under its insurance policy, with an expectation of receiving EUR31m cash.
- Daniel Slater
Rockhopper Exploration (RKH LN) - Full year 2024 results - BUY
Rockhopper has released its full year 2024 results. These reiterate the existing balance sheet cash, alongside providing an update on the company’s key Sea Lion project as it advances towards FID, and on the Italian arbitration process, which is due to deliver significant additional cash to Rockhopper.
- Stephane Foucaud
AUCTUS ON FRIDAY - 28/03/2025
AUCTUS PUBLICATIONS ________________________________________ Condor Energies (CDR CN)C; Target price of C$5.60 per share: Production rises again. Maiden reserves report. First LNG sales in Kazakhstan on track for 1H26 – YE24 2P reserves in Uzbekistan were estimated at 18.5 mmboe. 4Q24 production was 10,511 boe/d increasing to 12,019 boe/d in March to date and 12,288 boe/d over the past five days. In March, Condor signed a non-binding letter of intent outlining the basic terms and conditions for ...
RKH ROCKHOPPER EXPLORATION
CNE CAIRN ENERGY PLC
REP REPSOL SA
VLE VALEURA ENERGY INC.
DNO DNO ASA CLASS A
PHAR PHAROS ENERGY
XOM EXXON MOBIL CORPORATION
BLOE BLOCK ENERGY
SENX SERINUS ENERGY
OKEA OKEA
RDSA ROYAL DUTCH SHELL PLC
WDS WOODSIDE PETROLEUM LTD
SOUC SOUTHERN ENERGY CORP
ITH ITHACA ENERGY PLC
CDR CONDOR ENERGIES INC
PLSR PULSAR HELIUM INC.
- Daniel Slater
Rockhopper Exploration (RKH LN) - Sea Lion resource report update - BU...
Rockhopper has announced that its Sea Lion JV partner, Navitas, has released a resource report for the asset (from NSAI), giving further clarity on future development phases beyond the initial Phase 1, while also reporting progress on development works and contracting for the project.
- Andy Hanson
- Bob Liao
- Brendan Long
- Carl Smith
- Daniel Slater
- David Seers
- John Cummins
- Rachel Birkett
- Robin Byde
- Robin Savage
Audio Note: Zeus Top Picks for 2025
Welcome to Zeus’ Top Picks 2025. Every year since 2021 Zeus analysts have selected their highest conviction UK SMID cap stocks over a one-year investment horizon. In 2024 Zeus analysts selected nine stocks across various sectors, focusing predominantly on the UK AIM market. These stocks provided an average total return of 16.3%, beating the AIM All Share benchmark by 18.7ppts*.
- Andy Hanson
- Bob Liao
- Brendan Long
- Carl Smith
- Daniel Slater
- David Seers
- John Cummins
- Rachel Birkett
- Robin Byde
- Robin Savage
Zeus Top Picks for 2025
Welcome to Zeus’ Top Picks 2025. Every year since 2021 Zeus analysts have selected their highest conviction UK SMID cap stocks over a one-year investment horizon. In 2024 Zeus analysts selected nine stocks across various sectors, focusing predominantly on the UK AIM market. These stocks provided an average total return of 16.3%, beating the AIM All Share benchmark by 18.7ppts*.
- Stephane Foucaud
AUCTUS ON FRIDAY - 29/11/2024
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of NOK51 per share: Water inflow from a small interval in Welchau deeper formation. Continuing well test up hole – Two intervals in the Steinalm formation (1452.5 m-1463.5 m and 1474.5 m-1480 m MD) 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 hig...
GALP GALP ENERGIA SGPS SA CLASS B
TLW TULLOW OIL PLC
GTE GRAN TIERRA ENERGY
GPRK GEOPARK
RKH ROCKHOPPER EXPLORATION
A2PAZ7 TETHYS PETROLEUM
OMV OMV AG
REP REPSOL SA
ENW ENWELL ENERGY
VLE VALEURA ENERGY INC.
SQZ SERICA ENERGY
PMG PARKMEAD GROUP
ENOG ENERGEAN PLC
SENX SERINUS ENERGY
AXL. ARROW EXPLORATION LTD
HBR HARBOUR ENERGY PLC
SOUC SOUTHERN ENERGY CORP
CEQ CRITERIUM ENERGY LTD.
ADX ADX ENERGY LTD
BCE BEACON ENERGY PLC
CDR CONDOR ENERGIES INC
- Daniel Slater
Rockhopper Exploration (RKH LN) - Sea Lion Navitas update - BUY
Rockhopper has released an update on its Sea Lion project, including news on development progress, updated CAPEX, and a new CPR from Sea Lion operator Navitas. In our view, this is a helpful demonstration of Navitas progressing the project, with a process to secure funding now upcoming, ahead of targeted FID in mid-2025.
- Daniel Slater
- Stephane Foucaud
AUCTUS ON FRIDAY - 18/10/2024
We have launched our new website with a revamped research portal – Home | Auctus Advisors. We’d be very interested to receive any feedback you may have. AUCTUS PUBLICATIONS ________________________________________ Criterium Energy (CEQ CN)C; Target price C$0.35 per share: Encouraging drilling results. Decreasing opex – Production to date in October is 950 bbl/d, the same level as reported on 24 September. The MGH-43 well has encountered 41 m of prospective gross sand intervals with good to exc...
GALP GALP ENERGIA SGPS SA CLASS B
EOG EUROPA OIL & GAS (HOLDINGS) PLC
MSMN MOSMAN OIL AND GAS
RKH ROCKHOPPER EXPLORATION
TRP TOWER RESOURCES PLC
UJO UNION JACK OIL
XOM EXXON MOBIL CORPORATION
ZPHR ZEPHYR ENERGY
TAO TAG OIL LTD
TRIN TRINITY EXPLORATION & PRODUCTION
WDS WOODSIDE PETROLEUM LTD
CEQ CRITERIUM ENERGY LTD.
PLSR CN PULSAR HELIUM INC.
Hybridan Small Cap Feast - 14 October 2024
* A corporate client of Hybridan LLP ** Potential means Intention to Float (ITF) has been announced, or it is a rumour ***Arranged by type of listing and date of announcement ****Alphabetically arranged Share prices and market capitalisations taken from the current price on the day of publication Dish of the day Admissions: None Delistings: None What’s baking in the oven? ITF announced:*** Potential** Initial Public Offerings: 30th September 2024: Applied Nutrition, the sports nutrition, health ...
- Daniel Slater
Rockhopper Exploration (RKH LN) - Italian arbitration insurance and It...
Rockhopper has announced two updates. First, it has taken out an insurance policy against its upcoming Italian arbitration annulment court decision, underpinning a cash payment of EUR31m for Rockhopper. Second, it has disposed of its remaining Italian assets portfolio, removing forward decommissioning liabilities for the company.
- Daniel Slater
Audio Note: Rockhopper Exploration - H1 2024 results
In this audio note, Zeus’ Daniel Slater summarises the investment case for Rockhopper Exploration. Rockhopper has released its H1 2024 results. These report a significant cash position given recent receipt of an initial payment connected with its Italian arbitration, alongside providing an operational update which reiterates the Sea Lion JV’s ongoing progress towards project FID.
- Daniel Slater
Rockhopper Exploration (RKH LN) - H1 2024 results
Rockhopper has released its H1 2024 results. These report a significant cash position given recent receipt of an initial payment connected with its Italian arbitration, alongside providing an operational update which reiterates the Sea Lion JV’s ongoing progress towards project FID.
- Daniel Slater
Audio Note: Rockhopper Exploration - Forecast update and investment ca...
In this audio note, Zeus’ Daniel Slater summarises the investment case for Rockhopper Exploration. Rockhopper continues to make strong progress towards FID on its Sea Lion project, with operator Navitas reworking the development to reduce upfront CAPEX earlier this year, and now focusing on securing full funding. Listen to the audio note below, and read the full research here.
- Daniel Slater
Rockhopper Exploration (RKH LN) - Forecast update and investment case ...
We have updated our model for Rockhopper, including for the recent EUR19m arbitration cash payment. Rockhopper continues to make strong progress towards FID on its Sea Lion project, with operator Navitas reworking the development to reduce upfront CAPEX earlier this year, and now focusing on securing full funding. Taking Sea Lion towards and through a positive FID would be very positive for Rockhopper and the value of its stake in the project, and the recent arbitration monetisation provides imp...
- Daniel Slater
Rockhopper Exploration (RKH LN) - Full year 2023 results
Rockhopper has released its 2023 results, reporting ongoing development planning progress on its significant Sea Lion project, and work towards closure of its Italian arbitration award monetisation deal, which should bring in significant new cash for the company.
- Stephane Foucaud
Auctus on Friday - 26/01/2024
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.65 per share: Drilling rig on location of high impact well by the end of January – A rig is expected to be mobilised to the high impact Welchau-1 drilling location during the last week of January. Drilling is expected to last for 6-8 weeks. The total vertical depth of the well is only 1,800 m with a dry hole cost estimated at ~EUR5.1 mm. Welchau gross prospective resources have been independent...
FP TOTAL SE
EQNR EQUINOR ASA
TLW TULLOW OIL PLC
RKH ROCKHOPPER EXPLORATION
GENL GENEL ENERGY
KAR KAROON GAS AUSTRALIA LTD.
PEN PANORO ENERGY ASA
SNM SHAMARAN PETROLEUM CORP.
UOG UNITED OIL & GAS
BP. BP P.L.C.
TAL PETROTAL (TAL)
WDS WOODSIDE PETROLEUM LTD
BCOW 1895 BANCORP OF WISCONSIN INC
SEY AFENTRA (PREVIOUSLY
GTE STERLING ENERGY)
ADX GRAN TIERRA ENERGY INC.
IVZ ADX ENERGY LTD
J4V INVICTUS ENERGY
BWEFF VAR ENERGI ASA
BW ENERGY LTD
- Daniel Slater
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