AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: High production at Z&G. Low risk exploration drilling in Austria to start in 4Q25/1Q26 – 2Q25 net production of 303 boe/d was higher than our expectations of ~270 boe/d following a 5 well intervention programme at the Zisterdorf and Gaiselberg fields in the Vienna Basin. The programme included (1) repair of subsurface equipment, (2) clean out of a down hole sand control (3) perfor...
Genel has released its H1 2025 results. These report a further period of Tawke production for domestic sales, helping preserve the balance sheet as the company awaits a return of KRI oil exports and continues to pursue further new assets. Production has been suspended since mid-July post a drone attack, with repairs assessment ongoing and resumption of production targeted in due course. Discussions also continue positively towards resumption of KRI oil exports.
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price of £0.70 per share: AB wells deliver flow rates above expectations – Current production ranges between 4,600 and 4,800 bbl/d driven by strong performance from two new horizontal wells at Alberta Llanos (AB). AB-HZ5, onstream for ~2 weeks, is producing 1,790 bbl/d (895 bbl/d net to Arrow), while AB-HZ4, online for over a month, continues to produce 880 bbl/d (440 bbl/d net). Both wells are ou...
AUCTUS PUBLICATIONS ________________________________________ New Zealand Energy (NZ CN)C: Financial update – New Zealand has received short term loans totalling C$0.48 mm from Charlestown Energy Partners and a company controlled by New Zealand’s Chairman. The loans, which were issued with an original issuance discount of 10%. are unsecured and non-convertible, with interest payable at 15% per annum and repayment is due on August 27, 2025, The company now intends to complete a private placement. ...
Our daily digest of news from UK Small Caps 23rd June 2025 @HybridanLLP * A corporate client of Hybridan LLP. ** Potential means Intention to Float (ITF) or similar announcement has been made. ***Arranged by type of listing and date of announcement. ****Alphabetically arranged and Closing Price on prior day to Publication. Dish of the day Admissions: None Delistings: None What’s baking in the oven? Potential** Initial Pub...
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Focus on the shallow gas prospects – ADX has initiated the farm-out process for the GOLD cluster of shallow gas prospects in ADX-AT-II. This cluster includes the GOLD (A&C), GOLD (B), GRAB, and ZAUN prospects, with a combined P50 prospective resource estimate of 12.1 bcf (13.3 bcf on a mean basis). GOLD accounts for 7.5 bcf, while ZAUN and GRAB hold 2.7 bcf and 1.9 bcf, respective...
AUCTUS PUBLICATIONS ________________________________________ Panoro Energy (PEN NO)C; Target price of NOK49 per share: ~12 mbbl/d in 1Q25. Re-iterating FY25 guidance – 1Q25 production was ~12 mbbl/d, including 6,841 bbl/d in Gabon, 3,661 bbl/d in Equatorial Guinea and 1,492 bbl/d in Tunisia. Production in Gabon and Equatorial Guinea was previously reported by BW Energy and Kosmos Energy. Equatorial Guinea output was temporarily impacted by unplanned downtime at the Ceiba Cluster, but operations ...
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Genel has announced its Q1 trading update, reporting steady production sold into the local market, maintaining cash while we wait for a resumption of exports. The company also continues to look at acquisitions to diversify the portfolio, with the recent Oman country entry representing a first step here.
Genel recently released its 2024 results, completed a bond refinancing, and announced the result of its KRG arbitration. The results were in line with the January trading statement, delivering positive free cash flow from domestic market sales. Genel lost the KRG arbitration process, however Genel completed a successful bond refinancing and has a substantial cash pile meaning the company continues through 2025 with flexibility and financial firepower.
Panoro Energy (PEN NO)C; Target price of NOK49 per share: Reserves addition much larger than expected – YE24 2P reserves were independently estimated at 42.3 mmbbl (+7.6 mmbbl vs YE23, representing a Reserve Replacement Ration of 309%). This figure far exceeds our previous expectation of 34.5 mmbbl for YE24 2P reserves - an estimate that included a 4 mmbbl addition in 1H24 to counterbalance 2024 production. The higher than expected reserves addition is driven by robust reservoir performance in G...
Genel Energy PLC (GENL) Genel Energy PLC: Update on arbitration regarding the Bina Bawi and Miran PSCs / Recoverable Costs Award 04-Apr-2025 / 16:40 GMT/BST 4 April 2025 Genel Energy plc Update on arbitration regarding the Bina Bawi and Miran PSCs / Recoverable Costs Award Genel Energy plc (‘Genel’) announces that it has today received from the Tribunal a copy of the Final Award on Costs ordering the Genel subsidiary, Genel Energy Miran Bina Bawi Limited (‘GEMBBL’), to pay recoverable costs incurred by the Kurdistan Regional Government (“KRG”) pursuant to the LCIA Rules...
Genel Energy PLC (GENL) Genel Energy PLC: 2025 Awards - Notification of Transactions by Persons Discharging Managerial Responsibilities (‘PDMRs’) 02-Apr-2025 / 15:00 GMT/BST 2 April 2025 Genel Energy plc (the ‘Company’) 2025 Awards - Notification of Transactions by Persons Discharging Managerial Responsibilities (‘PDMRs’) Pursuant to the notification obligations under UK Market Abuse Regulations Article 19.1 the Company granted awards over its ordinary shares of 10 pence each under the 2021 Performance Share Plan (‘PSP’) on 2 April 2025 to the PDMRs set out bel...
Genel Energy PLC (GENL) Genel Energy PLC: Bond call option exercised 01-Apr-2025 / 12:33 GMT/BST 1 April 2025 Genel Energy plc Bond call option exercised Consistent with the basis for the recent placement of a new $100 million senior unsecured bond with maturity in April 2030, Genel Energy plc ('Genel' or 'the Company') has notified Nordic Trustee A.S. that the Company will call the outstanding bond amount relating to ISIN NO 0010894330 with a maturity date in October 2025 and a fixed coupon of 9.25% per annum, at a price equal to 100% of the nominal amount. The...
Genel Energy PLC (GENL) Genel Energy PLC: Report on payments to governments for the year 2024 27-March-2025 / 10:00 GMT/BST 27 March 2025 Genel Energy plc Report on payments to governments for the year 2024 Introduction and basis for preparation This report sets out details of the payments made to governments by Genel Energy plc and its subsidiary undertakings (‘Genel’) for the year ended 31 December 2024 as required under the Disclosure and Transparency Rules of the UK Financial Conduct Authority (the ‘DTRs’) and in accordance with our interpretation of the Industry ...
Genel Energy PLC (GENL) Genel Energy PLC: Posting of Annual Report and Notice of AGM 27-March-2025 / 10:01 GMT/BST 27 March 2025 Genel Energy plc Posting of Annual Report and Notice of AGM Genel Energy plc (‘the Company’) announces that it has today posted its Annual Report for the year ended 31 December 2024 (‘Annual Report’) to shareholders together with the Notice of the 2025 Annual General Meeting (‘AGM’) and forms of proxy. The Company will hold its AGM on Thursday, 8 May 2025. In accordance with Listing Rule 6.4.1, copies of the Company's Annual Report, the ...
Genel Energy PLC (GENL) Genel Energy PLC: Successful placement of new unsecured bonds 26-March-2025 / 14:24 GMT/BST 26 March 2025 Genel Energy plc Successful placement of new unsecured bonds Genel Energy Plc ('Genel' or ‘the Company’) has completed the private placement of USD 100 million of new five-year senior unsecured bonds with a coupon rate of 11 percent per annum. The bond placement met strong investor demand across international markets and was subscribed to by a wide range of high-quality investors. Settlement of the bond issue is expected to occ...
AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LN)C; Target price of £0.10 per share: Significant power transaction highlights the value of the S. Africa electricity trading business – Etana Energy, the South African electricity trading business (49% held by Chariot) has arranged a US$55 mm guarantee finance facility through Standard Bank and secured an equity investment of up to US$20 mm from Norfund for working capital. In exchange, Standard Bank and Norfund will ho...
Genel has released its full year 2025 results. These were well trailed in the January trading statement, and today’s results remain in line with what has already been released. Going forward, we expect focus to remain on the resumption of KRI oil exports, which appears to be making some progress, while the recent entry into Oman will help add to the work programme, alongside the potential for more acquisitions.
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