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...
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.65 per share: Oversuscribed share purchase plan – ADX has raised a further ~A$1.6 mm as part of a share purchase plan. The terms are in line with the recently announced A$4.8 mm equity raise priced at A$0.10 per share. Chariot (CHAR LN)C; target price of £0.50 per share: Extending position in electricity trading company – Chariot is acquiring 49% of Etana Energy from the Neura Group, with H1 a...
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.
Rockhopper has released its full year 2022 results. These update on the company’s funding position as it goes about achieving full funding and FID on its significant Sea Lion development project in the Falklands, and pursuing its c.EUR190m arbitration award against the Italian government.
In this audio note, Zeus’ Daniel Slater summarises the investment case for Rockhopper Exploration. Rockhopper has announced an update to its planned development concept for its Sea Lion project in the Falklands (Rockhopper 35%), which is being progressed in partnership with Navitas Petroleum. Listen to the audio note below, and read the full research here.
Sea Lion upfront development CAPEX materially reduced. Rockhopper has announced an update to its planned development concept for its Sea Lion project in the Falklands (Rockhopper 35%), which is being progressed in partnership with Navitas Petroleum. As previously indicated by Rockhopper, the main change in the new development plan is a reduction in the CAPEX required to get to first oil: this is now expected to be US$1.3bn gross, from US$1.8bn previously, and includes using a leased redeployed F...
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN) C; Target price of £0.45 per share: Good flow rate at RCE-4 – The RCE-4 well has been put in production. It has produced at a rate of 728 bbl/d (364 bbl/d net to Arrow) of 28.5 API oil with a 1% water cut from the C7-A and C7 Stringer zones over the last 24 hours. This is a similar result as at RCE-3 (24 h flow rate of 968 bbl/d gross/484 bbl/d net). As was the case at RCE-3, the RCE-4 well is also flowing na...
The independent financial analyst theScreener just lowered the general evaluation of ROCKHOPPER EXPLORATION (GB), active in the Exploration & Production industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Negative. As of the analysis date March 29, 2022, the closing price was GBp 8.80 and ...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
The independent financial analyst theScreener just awarded an improved star rating to PREMIER OIL (GB), active in the Exploration & Production industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date February 16, 2021, the...
Rockhopper Exploration recently announced that its Greater Mediterranean assets generated $10.3m revenue in 2019 as it focused on progressing with Sea Lion Phase 1 development. In January, Rockhopper and Premier Oil announced that a Heads of Terms (HoT) had been signed with Navitas Petroleum to farm in for a 30% interest in the Sea Lion project. Despite the current macroeconomic situation, the company announced that progress has been made to convert the HoT into finalised agreements. Completion ...
Two Directors at Rockhopper Exploration bought/maiden bought 205,000 shares at between 19p and 19p. The significance rating of the trade was 68/100. 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 directo...
Rockhopper (RKH) has announced that, together with Premier Oil, it has signed Heads of Terms with Navitas Petroleum to farm down a 30% interest in the Sea Lion project. The deal increases confidence that project debt financing to the joint venture can be secured successfully for Sea Lion Phase 1 of development, while Rockhopper maintains a material 30% stake in Sea Lion, and Premier 40% and operatorship. Rockhopper’s share of project costs will now be covered from 1 January 2020 through to Pha...
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