reports
- Stephane Foucaud
AUCTUS ON FRIDAY - 27/06/2025
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. ...
- Stephane Foucaud
AUCTUS ON FRIDAY - 16/05/2025
AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LN)C: Recovering 75% WI of licences in Morocco – Energean has returned its Moroccan offshore interests to Chariot. As a result, Chariot now holds 75% in the Lixus Offshore and Rissana Offshore licences. Condor Energies (CDR CN)C; Target price of C$5.90 per share: Acquiring a LNG facility for Kazakhstan to deliver first LNG sale in 2Q26 – 1Q25 production in Uzbekistan was 11,179 boe/d (+6% vs. production in 4Q24). Condor ...
EGY VAALCO ENERGY INC.
TXP TOUCHSTONE EXPLORATION
SEI. SINTANA ENERGY
CHAR CHARIOT OIL & GAS
VLE VALEURA ENERGY INC.
EME EMPYREAN ENERGY
DNO DNO ASA CLASS A
PHAR PHAROS ENERGY
FEC FRONTERA ENERGY CORP
DGOC DIVERSIFIED GAS & OIL
AOI AFRICA OIL CORP
ZPHR ZEPHYR ENERGY
SENX SERINUS ENERGY
ORC/B ORCA EXPLORATION GROUP CL B
CRCL CORCEL
TAL PETROTAL (TAL)
SOUC SOUTHERN ENERGY CORP
CEQ CRITERIUM ENERGY LTD.
CDR CONDOR ENERGIES INC
- Stephane Foucaud
AUCTUS ON FRIDAY - 21/03/2025
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...
EGY VAALCO ENERGY INC.
TXP TOUCHSTONE EXPLORATION
GENL GENEL ENERGY
ENI ENI S.P.A.
ALVOF ALVOPETRO ENERGY LTD
PCL PANCONTINENTAL OIL & GAS N.L.
SEI. SINTANA ENERGY
CHAR CHARIOT OIL & GAS
7777 3-D MATRIX
GKP GULF KEYSTONE PETROLEUM LTD.
DGOC DIVERSIFIED GAS & OIL
ENOG ENERGEAN PLC
BLOE BLOCK ENERGY
AOI AFRICA OIL CORP
SENX SERINUS ENERGY
JSE JADESTONE ENERGY
TAL PETROTAL (TAL)
SOUC SOUTHERN ENERGY CORP
CEQ CRITERIUM ENERGY LTD.
PRD PREDATOR OIL & GAS HOLDINGS PLC
CDR CONDOR ENERGIES INC
- Stephane Foucaud
AUCTUS ON FRIDAY - 21/02/2025
AUCTUS PUBLICATIONS ________________________________________ Condor Energies (CDR CN)C; Target price of C$5.60 per share: Very high flow rate at bypassed zone boosts production and unlocks reserves - A potential bypassed 60 m gas pay section, identified using advanced cased-hole logging tools and reprocessed existing 3-D seismic data, was put in production over a 23 m perforated interval at a rate of 1,100 boe/d, increasing to 1,300 boe/d over the past five days as the completion fluid has been ...
SEY STERLING ENERGY PLC
MUR MURPHY OIL CORPORATION
ENI ENI S.P.A.
REP REPSOL SA
BOR BORDERS & SOUTHERN PETROLEUM PLC
PANR PANTHEON RESOURCES
BPV BAHAMAS PETROLEUM CO. PLC
SQZ SERICA ENERGY
PHAR PHAROS ENERGY
DGOC DIVERSIFIED GAS & OIL
ZPHR ZEPHYR ENERGY
CRCL CORCEL
TAL PETROTAL (TAL)
WDS WOODSIDE PETROLEUM LTD
PNOR PETRONOR E&P LTD
ITH ITHACA ENERGY PLC
Z29 029 GROUP SE
CDR CONDOR ENERGIES INC
PLSR PULSAR HELIUM INC.
- Stephane Foucaud
AUCTUS ON FRIDAY - 14/02/2025
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: New acreage in Austria increases prospect inventory with a focus on low risk, shallow gas - ADX’s acreage in Austria has been modified to include additional near-term, low-risk gas prospects, as well as high-impact, higher-risk opportunities. One focus of the 2025 program is to drill shallow, low-risk, high initial production gas prospects that can be rapidly put into production. ...
- Stephane Foucaud
AUCTUS ON FRIDAY - 31/01/2025
AUCTUS PUBLICATIONS ________________________________________ Corcel (CRCL LN)C; Target price of 1.00p per share: Restarting intervention activities at Tobias field -Intervention activities will soon restart at the Tobias-13 and Tobias-14 wells on Block KON-11, aiming to re-establish production at the Tobias field. Discovered in 1961, the Tobias field initially had an estimated 94 mmbbl of oil in place. Twelve wells were drilled, with eight producers reaching peak production of 17.5 mbbl/d. The T...
TLW TULLOW OIL PLC
CNE CAIRN ENERGY PLC
GENL GENEL ENERGY
CAD CADOGAN PETROLEUM
DGOC DIVERSIFIED GAS & OIL
OKEA OKEA
BWE BW ENERGY
CRCL CORCEL
RECO RECONNAISSANCE ENERGY AFRICA LTD
NOG NOSTRUM OIL & GAS PLC
J4V VAR ENERGI ASA
SHELL ROYAL DUTCH SHELL
CNECN CANACOL
PLSR PULSAR HELIUM INC.
- Stephane Foucaud
AUCTUS ON FRIDAY - 10/01/2025
AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/ CN)C; Target price of £0.80 per share: Flow rate in line with expectations at AB-1. Two more appraisal wells in January - The AB-1 (Alberta Llanos) exploration well is now on production at an oil rate of 658 bbl/d gross (329 bbl/d net) with 49% water cut from 62 feet of net pay in the Ubaque. The IP rate is in line with the expectations set out in the company’s September corporate presentation (321 bbl/d net)...
ALVOF ALVOPETRO ENERGY LTD
SEI. SINTANA ENERGY
TRP TOWER RESOURCES PLC
VLE VALEURA ENERGY INC.
SQZ SERICA ENERGY
DGOC DIVERSIFIED GAS & OIL
ZPHR ZEPHYR ENERGY
CORO CORO ENERGY
AXL. ARROW EXPLORATION LTD
TAL PETROTAL (TAL)
KIST KISTOS PLC
PNOR PETRONOR E&P LTD
SHELL ROYAL DUTCH SHELL
PLSR PULSAR HELIUM INC.
- Brendan Long
Diversified Energy (DEC LN) - Initiation: Energy Optimised - BUY
We have modelled Diversified Energy over a 10-year period to assess whether the company can be expected to i) repay its debt ii) keep ahead of its asset retirement accretion, and iii) pay its dividend. We have applied futures market energy commodity pricing from the present until year-end 2027, thereafter we have inflated our energy price assumptions by 2% per annum. We highlight that Diversified Energy has hedged 52% of its production from 2025 to year and 2034 (Zeus estimates). Based on our es...
- 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
AUCTUS ON FRIDAY - 16/08/2024
AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LN)C; Target price £0.45 per share: Commencing drilling operations at high impact well in Morocco – Drilling operations have commenced on the Anchois East well (now named Anchois-3). The well has three objectives. An initial pilot hole will be drilled to evaluate the potential of the Anchois Footwall prospect, located in an undrilled fault block to the east of the main field with a 2U Prospective Resource estimate of 170 ...
A2PAZ7 TETHYS PETROLEUM
OMV OMV AG
TXP TOUCHSTONE EXPLORATION
AOI. AFRICA OIL
SEI. SINTANA ENERGY
CHAR CHARIOT OIL & GAS
PEN PANORO ENERGY ASA
DGOC DIVERSIFIED GAS & OIL
JSE JADESTONE ENERGY
I3E I3 ENERGY
SOUC SOUTHERN ENERGY CORP
NOG NOSTRUM OIL & GAS PLC
J4V VAR ENERGI ASA
IAECN ITHACA ENERGY
Hybridan Small Cap Feast - 16 August 24
16th August 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: None Delistings: Chaarat Gold Holdings (CGH.L) has delisted from AIM What’s baking in the oven? ** Reverse Takeovers: Earnz plc (EARN.L) is an AIM Rule 15 cash shell which is required to make an acquisition or acquisitions which constitute a reverse ...
- Stephane Foucaud
AUCTUS ON FRIDAY - 16/08/2024
AUCTUS PUBLICATIONS ________________________________________ Criterium Energy (CEQ CN)C; Target price C$0.35 per share: New drilling expected to start in September – A drilling rig is scheduled to be mobilized to site in August. The two-well infill program, targeting a previously undrilled section of the MGH Field, is anticipated to commence in early September with the wells expected to come on production in early November at a forecasted combined rate of 300 bbl/d. While this is a bit later tha...
GTE GRAN TIERRA ENERGY
GPRK GEOPARK
TXP TOUCHSTONE EXPLORATION
VLE VALEURA ENERGY INC.
DNO DNO ASA CLASS A
XOM EXXON MOBIL CORPORATION
DGOC DIVERSIFIED GAS & OIL
AOI AFRICA OIL CORP
ZPHR ZEPHYR ENERGY
SENX SERINUS ENERGY
I3E I3 ENERGY
CEQ CRITERIUM ENERGY LTD.
PLSR CN PULSAR HELIUM INC.
- Stephane Foucaud
AUCTUS ON FRIDAY - 12/07/2024
AUCTUS PUBLICATIONS ________________________________________ PetroTal (PTAL LN/CN)C; Target price of £1.50 per share: Unrestricted cash position increased by >30% during the last quarter – 2Q24 production of 18,290 bbl/d was very near our forecasts of 18.5 mbbl/d but marginally below the company target of ~19 mbbl/d. A brief river blockade impacted production but production in June was 20,555 bbl/d. All regulatory approvals for the pilot to sell 100 mbbl of production through Ecuador have now be...
GALP GALP ENERGIA SGPS SA CLASS B
A2PAZ7 TETHYS PETROLEUM
ENI ENI S.P.A.
REP REPSOL SA
VLE VALEURA ENERGY INC.
DNO DNO ASA CLASS A
DGOC DIVERSIFIED GAS & OIL
ZPHR ZEPHYR ENERGY
OKEA OKEA
TAO TAG OIL LTD
TAL PETROTAL (TAL)
PNOR PETRONOR E&P LTD
SEY AFENTRA (PREVIOUSLY
PLSR CN STERLING ENERGY)
J4V PULSAR HELIUM INC.
VAR ENERGI ASA
- Stephane Foucaud
AUCTUS ON FRIDAY - 10/05/2024
AUCTUS PUBLICATIONS ________________________________________ GeoPark (GPRK US)C; target price of US$26 per share: More favourable offtake contract in Colombia – GeoPark has signe da new offtake contract with Vitol for a minimum of 20 mbbl/d. The agreement improves GeoPark’s price realizations by US$0.15/bbl vs the current agreement. As part of this transaction, GeoPark will obtain immediate access to committed funding from Vitol for up to US$300 mm, with an option to increase by another US$200 m...
GPRK GEOPARK
EGY VAALCO ENERGY INC.
A2PAZ7 TETHYS PETROLEUM
GENL GENEL ENERGY
ENI ENI S.P.A.
PXT PAREX RESOURCES INC.
ALVOF ALVOPETRO ENERGY LTD
SNM SHAMARAN PETROLEUM CORP.
VLE VALEURA ENERGY INC.
DNO DNO ASA CLASS A
FEC FRONTERA ENERGY CORP
BP. BP P.L.C.
DGOC DIVERSIFIED GAS & OIL
CNE CANACOL ENERGY LTD
KOS KOSMOS ENERGY LTD.
TAL PETROTAL (TAL)
HBR HARBOUR ENERGY PLC
PLSR CN PULSAR HELIUM INC.
- Stephane Foucaud
AUCTUS ON FRIDAY - 05/04/2024
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$1.00 per share: Sample analysis at Welchau – Compositional analysis of a gas sample at Welchau shows 92 mole % methane, 4 mole % ethane with low CO2 and no H2S. Criterium Energy (CEQ CN)C; target price of C$0.30 per share: Growth within cashflow – The FY24 guidance reflects a self-funded development and debt repayment programme. While a reduced capital programme, we believe this is a prudent str...
- Stephane Foucaud
AUCTUS ON FRIDAY - 15/03/2024
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$1.00 per share: Very high impact exploration well encounters gas and condensate in Austria – The Welchau well (ADX WI: 75%) encountered 115 m of liquids-rich gas shows in the primary target formation (Steinalm Formation) between 1452 m and 1567 m. The deepest gas shows were encountered at a depth of 1645 m. The well has reached TD at 1733 m. The Steinalm Formation intersection in the well is in l...
CNE. CANACOL ENERGY LTD
TXP TOUCHSTONE EXPLORATION
ALVOF ALVOPETRO ENERGY LTD
CHAR CHARIOT OIL & GAS
SAVE SAVANNAH ENERGY
DNO DNO ASA CLASS A
XOM EXXON MOBIL CORPORATION
GKP GULF KEYSTONE PETROLEUM LTD.
DGOC DIVERSIFIED GAS & OIL
ENOG ENERGEAN PLC
AOI AFRICA OIL CORP
ZPHR ZEPHYR ENERGY
TETY TETHYS OIL AB
TAO TAG OIL LTD
TAL PETROTAL (TAL)
PLSR CN PULSAR HELIUM INC.
ADX ADX ENERGY LTD
IVZ INVICTUS ENERGY
UKOG UK OIL & GAS PLC
- Stephane Foucaud
Auctus on Friday - 02/02/2024
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...
GALP GALP ENERGIA SGPS SA CLASS B
OMV OMV AG
CAD CADOGAN PETROLEUM
CHAR CHARIOT OIL & GAS
EME EMPYREAN ENERGY
DELT DELTIC ENERGY
UJO UNION JACK OIL
PMG PARKMEAD GROUP
GKP GULF KEYSTONE PETROLEUM LTD.
DGOC DIVERSIFIED GAS & OIL
CE1 CALIMA ENERGY
CORO CORO ENERGY
JSE JADESTONE ENERGY
RHC ROYAL HELIUM LTD
RDSA ROYAL DUTCH SHELL PLC
TRIN TRINITY EXPLORATION & PRODUCTION
ORCA ORCADIAN ENERGY PLC
LBE LONGBOAT ENERGY PLC
NOG NOSTRUM OIL & GAS PLC
SEAPT NO SEACREST PETROLEO BERMUDA - SEAPT NO
PLSR CN PULSAR HELIUM INC.
ADX ADX ENERGY LTD
BNL BLUE STAR HELIUM LTD
- Stephane Foucaud
Auctus on Friday - 03/02/2023
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Drilling commences at Anshof-2 – Drilling at Anshof-2 has started. The well is targeting the field’s possible reserves with an unrisked NAV of A$0.23 per share. A success would open-up the 3C case with an additional A$0.26 per share unrisked NAV. Arrow Exploration (AXL LN/CN)C; target price of £0.55 per share: High flow and a new discovery at RCE-6. Larger volumes than expected a...
TLW TULLOW OIL PLC
GPRK GEOPARK
TXP TOUCHSTONE EXPLORATION
GENL GENEL ENERGY
AOI. AFRICA OIL
PEN PANORO ENERGY ASA
VLE VALEURA ENERGY INC.
MAHA A MAHA ENERGY
PMG PARKMEAD GROUP
DGOC DIVERSIFIED GAS & OIL
ENOG ENERGEAN PLC
ZPHR ZEPHYR ENERGY
WEN WENTWORTH RESOURCES PLC
JSE JADESTONE ENERGY
AXL. ARROW EXPLORATION LTD
TAL PETROTAL (TAL)
RDSA ROYAL DUTCH SHELL PLC
ATOM ATOME ENERGY PLC
PLSR CN PULSAR HELIUM INC.
ADX ADX ENERGY LTD
BCE BEACON ENERGY PLC
BWEFF BW ENERGY LTD
- Stephane Foucaud
Auctus on Friday - 06/10/2023
AUCTUS PUBLICATIONS ________________________________________ Calima Energy (CE1 AU)C; target price of A$0.45 per share: Operating update in Canada – The 3-well Pisces drilling programme has now been completed. The wells have been drilled under budget. The Pisces#10 well is already in production and the production performance is in line with the Pisces#6 and Pisces#7 wells that delivered production significantly above the typical glauconitic production curve. Peak production at these new wells is...
XOP. CANADIAN OVERSEAS PETROLEUM LT
FP TOTAL SE
EOG EUROPA OIL & GAS (HOLDINGS) PLC
GPRK GEOPARK
ENI ENI S.P.A.
REP REPSOL SA
ALVOF ALVOPETRO ENERGY LTD
VLE VALEURA ENERGY INC.
MAHA A MAHA ENERGY
DGOC DIVERSIFIED GAS & OIL
CE1 CALIMA ENERGY
ZPHR ZEPHYR ENERGY
OKEA OKEA
I3E I3 ENERGY
SOUC SOUTHERN ENERGY CORP
PNOR PETRONOR E&P LTD
CEQ CRITERIUM ENERGY LTD.
IGAS IGAS ENERGY
- Stephane Foucaud
Auctus on Friday - 01/09/2023
AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C: target price of A$0.08 per share: Funding from the Austrian Science Fund to collaborate on study at Welchau – The Austrian Science Fund will fund a scientific project in the Welchau area to better understand the geology of the area. An Environment Sustainability project will also be conducted by a group of experts funded by ADX. The project budget is A$0.75 mm to which the Austrian Science Fund will contribute A$0...
ADX ADX ENERGY
BPV BAHAMAS PETROLEUM CO. PLC
GKP GULF KEYSTONE PETROLEUM LTD.
MAY MELBANA ENERGY LIMITED
DGOC DIVERSIFIED GAS & OIL
CE1 CALIMA ENERGY
JSE JADESTONE ENERGY
AXL. ARROW EXPLORATION LTD
SDX SDX ENERGY
I3E I3 ENERGY
RDSA ROYAL DUTCH SHELL PLC
PNOR PETRONOR E&P LTD
LBE LONGBOAT ENERGY PLC
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