AUCTUS PUBLICATIONS ________________________________________ Tethys Oil (TETY SS)C; target price of SEK100 per share: Increasing further the size of the prize/Considering Algeria – The South Lahan area on Block 58 is estimated to hold 55-523 mmbl prospective resources (P90-P10 case) with a mean case of 251.8 mmbbl prospective resources across six prospects in the Ara Carbonate. Combined with the previously disclosed prospective resources of the Fahd area in the north-eastern part of Block 58, Te...
Union Jack has announced that its West Bowlegs exploration well in Oklahoma is now expected to spud in late March. We expect a result in around ten days after spud, with the potential for swift first production on drilling success.
Union Jack has issued an update to planned activity on its West Newton asset (Union Jack 16.7%), onshore UK. The JV now plans drilling of a deviated test well in late 2024, with potential for fast-track development on success.
13th February 2024 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment obj...
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.65 per share: Operations on track – 4Q23 production was 218 boe/d as Anshof did not contribute to production during the quarter (in line with previous indications). Commercial production at Anshof is expected to restart in March after the commissioning of a permanent production facility. ADX held ~A$8 mm in cash as at YE23. Drilling at the high impact Welchau-1 well targeting between 365 bcf an...
Union Jack has announced its entry into the USA. This is initially via acquisition of a royalty interest in a number of onshore leases in the Permian basin in Texas, but alongside this there is a new industry partnership aimed at direct participation in additional onshore projects with near-term drilling.
15th January 2024 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment obje...
Union Jack has released the results of a new CPR from industry consultant ERCE for its producing Wressle field (Union Jack 40%), increasing remaining 2P reserves to a significant 2.4mmboe gross (from 0.7mmboe gross previously), including upgrade of the resources in the Penistone Flags formation from 2C into 2P. This helps validate the forward opportunity at Wressle, including the ongoing project to upgrade field infrastructure and install gas export, and potential drilling of further production ...
The front of this note takes a look at the UK oil and gas sector, why domestic production is advantageous, what the main political parties think, and what could happen going forward. The latter part contains a review of the companies in our coverage – some that are UK centric, which give exposure to the note’s wider theme, and others that are focused elsewhere.
Jet pump operations now completed and production back onstream. Union Jack has announced that production at its Wressle field (Union Jack 40%) has now resumed, post operations to support production via installation of a jet pump in the Wressle-1 well.
Union Jack has announced a successful appeal against the local authority’s previous refusal to grant planning permission for the company’s planned Biscathorpe-2 side-track well (Union Jack 45%). This decision now provides the JV with the required planning permission to drill the well, carry out flow testing, and establish long term production from the well. We now expect a period of review of options and an update on the way forward, hopefully confirming drilling of the well, in due course.
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